Job offer but temporary - what options are there for financing

Yes, you are right. Everything can be planned and compared again in detail. It is a financial and insurance broker who was recommended to us by family members and through whom we at least wanted to inquire about financing. We hope that we will get a better deal there than with the Sparkassen and Volksbanken. Yesterday was the first time I contacted him regarding the new situation. The new company also wants a quick response from me. The contract discussion is scheduled for next Wednesday.

As far as I know, only the Ing-Diba finances during the probation period, no other bank does. That was my knowledge about 2 years ago. I have no idea how it looks with a fixed-term contract. But I consider a fixed-term contract even worse than a probation period. Personally, I would never enter into financing because neither a contract extension nor a probation period always has to do with performance. You just have to not get along with each other, and the end is preprogrammed, by that I mean the personality factor.

EDIT:

Just something to think about so it doesn’t become a rash decision for you: verbally, the development was promised to us by the municipality in summer 2017. In the contract at the notary, December 2017 was assured, and in the end, with surveying and all parameters to meet the bank’s disbursement requirements for the home financing, it became July 2018. We started building a week ago.

So take your time and pay for the plot in cash and reserve a general contractor, otherwise it won’t work out to start building in 2019. If YOU were to sign now, you would be put off until late summer 2019.

It is similar for us with the appointment changes. At the beginning of this year, we were informed that we could start building around now, as everything would then be approved. Of course, we now hope that the new date for the construction road will be May 2019. The surveying of the plots took place 2 weeks ago. It is probably difficult to reserve a general contractor if I do not get financing in mid-2019 (because I will then be on a temporary contract), right? If I only get financing at the end of 2019 and can only reserve someone then, it will already be the end of 2020.

Yes, unfortunately. You just have to weigh what makes more sense. Immediately €300-€500 more salary, but an uncertain financing and construction start in 2020, or keep quiet and finance with the current salary and look around for a new employer after the house is built.

I myself was also employed on a fixed-term contract at the time of the loan agreement, since the bank does not want to see the employment contract but only the last three payslips, this was not a problem because it is not indicated there.

I am already clarifying the billing. That would of course be good for me. Naturally, the only risk left for me would be taking on financing during a fixed-term contract. But I will weigh that when the time comes. Who knows what will be going on then.