No equity, good income, financing feasible?

We also want to buy and renovate a house. From experience, I can say, for example, that the Sparkasse calculates as follows for 2 people + child in a house with approximately 155 sqm living space:

Household flat rate for 3 people + 1 car = €1490/month
Operating costs of the house = €310/month

resulting in €1800 that are already gone. Then the monthly fees for the loan are added.

we can't really compare much with other banks because we have to be glad if any bank finances at all, since the unsecured portion is already very high.

Big mistake! In ANY case, get offers from several banks or from an independent financial advisor... The house bank is not the bank that likes you very much and therefore gives you loans when no one else would... The house bank is simply the bank where your parents opened an account for you 20-30 years ago and where you have stayed out of convenience, even though other banks have better conditions...

The house bank is simply the bank where your parents opened an account for you 20-30 years ago and where you have stayed out of convenience ever since, even though other banks have better conditions...

I can agree 100%

Hello,

I wanted to keep you updated. Currently, it looks like we are still waiting for a response from the bank. Meanwhile, we have a house as collateral, which is valued at €360,000 (as estimated by the bank). There is still a debt of €180,000 on it, but nevertheless, there is €180,000 available as security. The bank we are waiting for said that we either have to provide additional collateral or equity of €40,000. We actually have the security now through the house. Of course, it is only second priority because €180,000 still has to be paid, but that shouldn’t really matter in this case. Allegedly, we will get an answer this week whether it will work out.

In the meantime, we also went to another bank, BHW. They were crazy. They actually wanted me to obtain a BWA profit and loss statement from my current employer and even the EKST2010. Of course, I politely declined. Hello? I want a loan and not my employer. If they want to know something about him, they can just check the Creditreform. The company has existed since 1979 and always posts good numbers; the fact that it is my parents’ company shouldn’t matter here. Many children work in their parents' business, possibly to take it over someday. So I found it quite outrageous to demand such documents from us. What do you think? Will the house bank agree? And don’t you also think what the BHW wanted was outrageous?

Completely normal what BHW demands. You have been working in the family business for a month and your fiancé has only been with the employer for just under a year. Then there is the fact that your salary is not that generous. Of course, the bank needs more information to assess their risk. That should also be in your interest.

mh, I don't know....if I were employed elsewhere on a permanent contract and without a probationary period, the company would laugh at me if I said I just want a BWA and the EKST2010 from them....no employer in the world would give that to you....and I don't think 3340 net is little. my fiancé meanwhile earns 240 net more. we meet all the requirements banks want, no probationary period, permanent contract, good income, no further debts, because those are all gone in the meantime, we sold our cars and we have good security instead of equity. over the last few years we've acquired quite a bit of what you need for a house. for example kitchen, other furniture and that's why we simply don't have equity. i don't understand the whole thing.