Mortgage for house construction with 200,000 including land, experiences

Hello,

I am still new here and would like to ask something about mortgages.

I am planning to build a house in Germany in 2010 and will also need a mortgage and want to know how it works with German banks.
Is it absolutely necessary to have equity? Or a building savings contract?
The gross salary will probably be important. I have no partner.

I am planning to build a house for about Euro 200,000 (including a plot of land of max. 400 m2). I don't have much own funds. Gross salary Euro 43,000 per year. In Holland it is possible to get financing about four to five times the gross salary.

Since I will be working in Holland, I also pay taxes there and can get about 40% of the interest back. Will banks take this into account?

Hope you can inform me a bit.

Regards.

Hello

Financing is always a tricky matter, because since the financial crisis banks are no longer so easily persuaded to hand out money. You definitely need equity capital and the more the better. Or an equivalent value such as a piece of land or a life insurance policy.

Friseur