KfW BEG funding stopped 261, 262, 263, 264, 461, 463, 464

2022-02-17 23:38:13

We have already made significant cuts and there is still room for more, but of course it would have been nice if the dream house had remained a dream house; currently everything is basically just a lousy compromise... Almost €80,000 can't just be quickly cut out...

The solution is close, cut the 2nd residential unit. Assuming you belong to all those pseudo secondary apartment subsidy grabbers. I understand the frustration, someone messed up. But that someone is neither the bank nor the advisor, so why should they have to pay for it?

2022-02-18 05:54:31

Regarding commissions, by the way, a look at the ESIS information sheet that you receive with every loan (and probably haven't read) helps. According to it, Interhyp received a 1% commission for my loans. Five-figure sums for a loan seller (also called "advisor") at the bank I can hardly imagine. But maybe one of the bankers present can help?

For a permanent employee certainly not, as the variable part is limited overall there.

2022-02-18 07:05:46

That may well be that he was actually a commercial agent. But they act completely like employees. At first, you don't see any difference.

2022-02-18 07:38:51

The house contract is signed and the building permit is now ready. The architect has only worked on KfW 55 houses in the last few months, so we fell behind, which wouldn’t have bothered us anyway...

We could even completely withdraw from the house contract because we signed this suspensive condition for KfW funding, but we actually don’t want to do that... We have already made significant cuts and everything is still possible, but of course it would have been nice if the dream house had remained one; currently everything is actually just a lousy compromise... Almost €80,000 can’t just be cut quickly...

Refinancing would certainly be an option, but probably not wise at the moment. We calculated everything so that the house is paid off with the loan; everything afterwards, garage, landscaping, etc., we fully accounted for with the grant, and if anything was left over, it would have gone directly back into the loan as a special repayment.

I understand your emotion. Currently, times are quite turbulent for new builders. At least you have your cheap loan and the building contract, hopefully with a fixed price.

Even if things get a bit rough here from time to time: why don’t you share your floor plan? Maybe the floor plan experts here can still see energy-saving potential without real compromises? To come back to the granny flat: I actually haven’t read that it is absolutely necessary. Removing it would probably save a lot. Did you perhaps plan it because of a slope? There are certainly good options to build differently and more cheaply there.

Best regards and keep your chin up!

2022-02-18 07:58:49

It may well be that he was actually a sales agent. But they appear completely like employees. At first, you can’t see any difference.

The commission is capped at 2% of the loan amount at 99.5% of banks. In 90% of cases, on the other hand, the advisor is forced to go down to a maximum of 1% solely due to the competitive situation.
You can assume again, even with a sales agent, that half of this sum ends up with the parent organization.
Either you financed 2 million or it’s not true.

2022-02-18 08:12:06

As for the commissions, by the way, a look at the ESIS information sheet that you get with every loan (and probably haven't read) helps. According to it, Interhyp received a 1% commission for my loans. I can't really imagine a five-figure amount for a loan salesperson (also called "advisor") at the bank. But maybe one of the bankers present can help with that?

For example, I get exactly 0%. It's the same for regular bankers in sales. There may be sales targets based on which an annual bonus is paid. But otherwise, mortgage advisors receive their regular monthly salary from TG 7. We're often talking about less than 4k gross.

The commission is capped at 2% of the loan amount at 99.5% of banks. In 90% of cases, the advisor is forced to go down to a maximum of 1% solely due to competitive pressure. You can assume that half of this amount goes to the umbrella organization, even for commercial agents. Either you financed 2 million or it's not true.

For intermediaries, it can also be more than 2%;). But these are not bank employees, rather employees of Interhyp & Co. or franchisees. In addition, there are the 84ers, such as at Deutsche Bank (which probably don't exist at Sparkasse and Volksbanken/RB). But they don't really get rich either:

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KfW BEG funding stopped 261, 262, 263, 264, 461, 463, 464

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