Is it possible to prefer external financing (retrospectively) over equity?

Good evening!

I need an explanation from professionals and will ask my question best based on an example:

Assuming I build a house for 800k euros, contribute 300k euros of equity for it, and borrow the rest (500k euros) from a construction financier. From December 2020, the first installment is due to the bank. From then on, an increased interest rate on undrawn capital must also be paid to the bank. Although the construction is already advanced, I have so far only had to pay the 300k euros of equity. In December, the house will probably not yet be finished (also due to delays in the "critical" Corona phase). However, it is expected that by then at least 550k euros will have been paid. Now I wonder which variant will apply from December:
Either: Will the bank say: Well, tough luck, you have only drawn 250k euros from us so far. For this amount, you pay the agreed interest, and for the other 250k euros, you pay the increased penalty interest from now on?
Or: Can I say: Dear bank, invoices amounting to 550k euros have been received so far. Please release the full 500k euros now, and we will pay the regular interest on this amount accordingly. Thus, I still have 250k euros of equity available.

Thank you very much for a brief clarification whether I have to expect variant 1 or may look forward to variant 2.

Have a nice evening,
David

Please pay the agreed interest for this.

You always have to do that for paid-out amounts.

and for the other 250k euros please from now on the increased penalty interest?

You do not pay penalty interest, but a commitment interest. This reflects the refinancing/liquidity costs/equity backing etc. of the bank.

Thank you very much for a brief information whether I have to expect variant 1 or may look forward to variant 2.

Only the bank can give you an answer to this question. The answer from my bank in 99% of the cases is that contracts must be adhered to = variant 1.

I only know it this way, that the installments only start flowing once a loan has been fully drawn. After a conversation with the bank, you can also have a relatively large amount paid out as an advance. With that, you could at least pay only the regular interest and not the commitment interest for that part.

Correct, advance payments are made if the overall risk/constellation is suitable. A commonly used option in new construction. Just have a conversation with the bank.

Ask the bank, there are always exceptions, but I think option 1 will be the one. The bank is not responsible for the delay.

Thank you very much for your information. That helps. I will contact the bank and seek an open conversation.