KfW 297 - Extend Interest Reservation

  • Erstellt am 2024-03-14 11:45:29

Häuschenbauer4

2024-03-14 11:45:29
  • #1
Good morning,

I am new to the forum and have a question regarding the KfW funding program 297.

Following situation:
At the beginning of March, we submitted all documents to the selected bank through a financial intermediary and also received a confirmation of the interest rate reservation from the KfW. The processing time of the bank was about 15 working days. Now the reservation of the KfW loan expired after 14 days (not working days), and instead of extending it, it was newly applied for.

Result: Instead of 2.43%, the current interest rate of 2.83% from the KfW is now listed in the interest reservation.

Has anyone had this case before, and is it not possible to extend the reservation?

It would be practical if the reservation remained valid at least until the bank has finished processing.

Thank you all :)
 

nordanney

2024-03-14 12:09:23
  • #2

No, the bank could have requested a confirmation = approval directly instead of reserving. Once the reservation has expired, a new reservation can be made.

From the KfW manual:
"The validity of an instant confirmation Light cannot be extended. If the validity of the instant confirmation Light has expired, a new instant confirmation Light with a new instant confirmation ID can be requested. Any number of instant confirmation Lights can be created and be valid. Cancelling a requested instant confirmation is not possible; only the validity period can expire."

The statement from KfW is final and cannot be deviated from.

File it under personal bad luck or stupidity of the customer advisor...
 

Häuschenbauer4

2024-03-14 18:25:50
  • #3
Thank you for the answer!
 

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