Loan for house purchase - experiences?

Good afternoon everyone,
I would like to know if any of you have experience buying a house with a loan, because our bank is currently not granting us a loan (although we have no ongoing obligations, there are old negative Schufa entries) and we have received a really great offer that we can basically afford, meaning we can also pay it back.

I came across the provider xyz-Kredit, which I have never heard of before, but which offers an overview page with customer reviews, where various ratings and individual customer statements can be found.

I would like to know who among you has also bought a house on credit and if anyone knows of another good loan provider?

Best regards

The recommendation can already be derived from your nickname:

"WenigGeld" = little house. In this case, it probably means that you will not be able to finance your "really great offer." You are currently being granted "no loan," which surely does not happen without reason. There is surely a story behind the "negative Schufa entries." Possibly the bank is quite glad that the liabilities have (finally?) really been repaid.

I do not know you personally nor your situation, but the focus on a provider – as mentioned above – speaks volumes to me.

Normally, a rather nasty insult would be itching to be written here, which surely turns out a bit milder. Additionally, recommendations to avoid this high level of debt when buying the bargain might possibly not matter to you at all. ;)

Talk to the local bank and explain your situation. If the bank doesn’t agree, wait a bit if necessary – [Schufa entries] will disappear again. You can throw the customer reviews in the trash... they are also from the provider’s website. I would avoid that and try to get back on your feet – save equity and then take the step.

Hello,

I can only urgently recommend that you stay away from any providers who advertise loans or credits without a Schufa inquiry or report to Schufa.

As a banker who worked over 15 years in a branch, I have often witnessed what happens when the bank rejects a loan (mostly economically unfeasible and/or negative Schufa) and the customer then ends up with such providers.

Out of pure altruism, these providers offer their "loans" in the very rarest cases. These providers are not "newcomers" and know exactly which clientele (please don’t take this personally – it’s not meant badly) mostly comes to them.

They usually charge royal fees for the associated risk through corresponding interest rates and risk surcharges.

I still shudder when I think of a customer to whom I had to deny a loan because he simply could not afford the installment and also had numerous negative records with Schufa. The next day he was back to me, proudly presenting a loan contract for the desired amount with one of these providers.

At a time when we (as a "normal" bank) offered such installment loans at 6.00% interest, his interest rate amounted to 18.00% p.a.!!!

Unfortunately, it happened as expected; after only 6 months, the loan provider initiated foreclosure due to lack of regular installment payments – our customer lost his car (which had been financed), his apartment (he could no longer pay his rent due to the account garnishment) and in the end his marriage also broke down because of this misery...

If a bank rejects a loan or credit, there is (in most cases) a reason for this – even if it is not understandable to the customer.

A rejection is not made for fun or to annoy the customer – if the loan or credit were feasible, the bank would gladly make an offer to the customer – banks can hardly earn their money as easily as with a long-term loan or credit.

I know it is hard when you yourself are affected by such a rejection, but I share the opinion of : Try again to have a constructive conversation with the bank, let them explain the reasons for the rejection completely objectively, and ask under what conditions a loan would be possible.

A personal inquiry at Schufa can also help you to get an overview of the negative entries and their remaining duration at Schufa.

As already wrote: these entries are not stored forever.

Regards,

Dirk

A personal request to Schufa can also help you get an overview of the negative entries and their remaining duration at Schufa.

As already wrote: These entries are not stored forever either.

Regards,

I can only fully agree with the post by .

Regardless, I recommend that you request your data/status from Schufa.
If there is actually something listed that is wrong or incorrect – contact the provider in question for clarification.
Keep in mind – every purchase on credit from a mail order company, every credit card (and possibly also a payment default here) is reported to Schufa. To my knowledge (but I am not sure), telephone contract providers (mobile phone contracts) also report – so if you have ever concluded such a contract here and (for whatever reason) the contract was not paid or otherwise failed, this can lead to a negative entry in Schufa.

I see it the same way! Especially when buying a house, you should definitely be able to rely on a trustworthy financing partner and not turn to just any random provider from the internet. And as was correctly stated, if you don’t get a loan approval from your bank, there’s surely a reason for that. Then, theoretically, you still have the option to talk to another bank about a loan. Mortgage interest rates are currently relatively low. But as I said, I would definitely stay away from a shady loan with fake customer reviews. But common sense should tell you that.