Follow-up financing rejected due to negative Schufa entry

  • Erstellt am 2016-07-05 14:03:40

valenci

2016-07-05 14:03:40
  • #1
Hello everyone,

I hope you can help me. The follow-up financing for our house was unfortunately rejected (negative Schufa entry). The house is worth €350k. It concerns a follow-up financing of €150k. The bank asked me to look for another bank. Unfortunately, without success, as every bank criticizes the negative Schufa entry. The negative Schufa entry has not been visible since 01.2018. From this point on, follow-up financing would not be a problem. The income is never criticized, only the negative Schufa entry. We are still looking. Hope dies last. If we should not find a bank, is the bank allowed to terminate the loan for the time being and charge us the outstanding amount? The fixed interest period expired already in March and has since been running variably at a slightly higher interest rate.

Thank you very much for your efforts.
 

Koempy

2016-07-05 14:09:03
  • #2
Theoretically, the bank can terminate your contract. But why should it do so, as long as you can pay the current installments? Have you already spoken with the bank to see if it might make sense to basically let the loan continue until 2018? How high is the [Variable Zins]? I think that if you find a bank that offers you a follow-up financing, it will come with a considerable penalty interest. But I think the best thing is if you talk to the bank.
 

valenci

2016-07-05 14:14:28
  • #3
Thank you for the quick response. The bank wants us to find another bank as soon as possible to take over the follow-up financing. I don't understand why the bank doesn't just let the loan run until 2018. After all, we always pay the installments on time. The current interest rate is about 5%.
 

toxicmolotof

2016-07-05 14:15:42
  • #4
There is initially freedom of contract. In other words, once the contract is fulfilled, no one has to participate in anything further.

What will be interesting in this context is exactly what the contract text from that time said, since the contracts in use today do not apply, but rather the agreements from that time.

What does the contract say about the term of the loan and the provision of the funds?

What does it say about the interest rate fixing and what happens according to the contract at the end of the fixed interest period?

What kind of negative Schufa entry is it?

Who initiated this entry and for what amount?
 

nordanney

2016-07-05 15:32:25
  • #5
Also take a look at the [AGBs]. There will certainly be a clause stating that the bank has an extraordinary right of termination if there is an important reason. Reasons can include a deterioration in creditworthiness - which is the case with you, as the bank interprets the negative Schufa entry accordingly.
 

Payday

2016-07-05 19:58:48
  • #6

As long as you do not fall behind with your installments, the bank does not have particularly good reasons to terminate the loan. A deterioration of creditworthiness is not an important reason if every installment has been paid on time. It’s obviously different with a new contract.

By the way, the Sparkasse does not check SCHUFA, at least ours doesn't. Despite a large mortgage, there is still nothing about it in SCHUFA today. The advisor also said back then that he does not check SCHUFA but uses other procedures. Might be worth a try. You should of course not mention the negative SCHUFA. ^^

With €150,000 on a house worth €350,000, maybe a guarantor (parents?) could otherwise step in. Selling because of less than 50% financing is really nonsense. Something really serious would have to have happened. Because of an unpaid phone bill, a follow-up financing under such secure conditions (under 50% loan-to-value) will not be refused.
 

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