Only from BHW financing, how can that be???

Hello. I am new here. I have a question, namely how can it be that we don’t get a construction loan from any bank but at BHW we do??? Regarding the details. I am a mother and receive €194 in child benefits and €483 in parental allowance and will be at home until June next year, and my husband gets €1700. And we would have a monthly installment of about €1300 to repay. We have signed a house contract with a company with a right of withdrawal regarding financing and land, and in the financing withdrawal declaration it states that if the bank of our choice does not grant us financing, we must still apply at BHW. How can that be???

Best regards and thanks in advance Jenny

You seriously wonder why you don't get a loan of 1300€ with that income? Oh dear... I hope you earn at least 2000 net after [EZ], otherwise the fun will quickly be over.

Well, that's the trick with these cancellation wordings that everyone warns about...

But seriously. You really signed a contract with an income of €1700 and a small child???

On the other hand, this is again so extreme, you might even be lucky. Because according to current credit guidelines, such financing is dubious to immoral. Without a lawyer, you won’t get out of it anymore.

And therefore again: Have you thought about what you can finance and is there a house offer with a correspondingly reasonable construction price? What kind of installment have you imagined?

No, but if you are talked into it for so long. Well, be that as it may. We only signed it because he said everything would get more expensive from 01.02. and that we would still get everything at the old price. I actually didn't want to, but he kept going on and said there is still the right of withdrawal for financing and property. Above all, I don't understand why the BHW is calculating with a salary that doesn't even exist yet. How is he supposed to get the financing through then???

On the other hand, this is already so extreme that you might even be lucky. Because according to current credit guidelines, such financing is unreliable to the point of being unethical. But without a lawyer, you won’t get out of it anymore.

And therefore again: Have you thought about what you can finance and is there a house offer with a correspondingly reasonable construction price? What kind of installment did you have in mind?

We have said from the beginning that about €1000 would be manageable but no more.