Land value too low - therefore no approval for construction financing

So the bank had called. They want more equity because the difference between the standard land value and the house is too large. They consider the risk too high that the house will not be sold in the event of a foreclosure. We are supposed to try with the regional banks. They themselves have inquired with the appraisal committee.

I can understand that. You can't have everything.

But the attic conversion is not free. It also costs money, which has to come from somewhere

Yes, I agree.

Or have you found a financer?

No. A financial advisor is coming on Monday. Then we'll see.

This problem will then be faced by all banks because the BelVO sets very tight limits there. So every appraiser will come to a very similar value.

And again: the land value still has NOTHING to do with the house. It is totally irrelevant. The final (mortgage) value of the house does not match the construction costs (the purchase price) of the house. Not the land!!!

How do you come to the conclusion that these are discount prices? The provider offers 130K for a normal house of 100sqm. For each enlargement, it costs us 1000€ per sqm. That is normal for a standard price, right?