Provision interest - loan approval before submitting the building application?

Hello dear builders,

our possible financing, mostly through the L-Bank, is as follows:

Loan 480,000

100,000 euros at 1% from Sparda-Bank (already now for the building plot) results in 250 euros monthly with 2% repayment, term 10 years

240,000 euros via Z15 loan from L-Bank with 0.5% interest and 2% repayment results in 500 euros monthly, term 15 years

140,000 euros as supplementary loan from L-Bank, term 25 years, full repayment loan, i.e. it is fully repaid in 25 years. 2.39% interest and 3.08% repayment, monthly rate 650 euros

Now I found out that for the 140,000 euros supplementary loan, starting from the 7th week after approval, 3% commitment interest is charged. That would be about 350 euros. Fortunately, no commitment interest is charged for the 240,000 euros promotional loan Z15.

Do you have any idea how this could be better managed with the 140,000 euros? I would have to get the loan approval before submitting the building application, i.e. at least 1 year, rather 1.5 years, would pass until the house is ready to move in. I can’t just apply for the remaining 140,000 euros in the middle or towards the end of the construction phase, can I? What if I would not get them then?

Many thanks!!! It is really great that you get such good information here. I am just a bit frustrated about where hidden costs are still lurking...

That is completely unusual. About 12 months, only then the commitment interest. If the L-Bank does not reduce it, get the 25 years also from Spardabank.

Yes, I will check that! Thank you. The L-Bank wants the Z15 loan to be in first priority on the property. That means Sparda would have to secure the 150,000 euros in second rank – I don't know if they will do that and under which conditions... I will clarify this and inform here for everyone interested.

Strange suggestions, honestly. Then you take that away and take this. And the L-Bank just casually worsens its security? Above all, 2.35% for 25 years, where do you get that? At the Sparda Bank?

What conditions. A dream. I could cry

We have an interest rate of 2.11% with a fixed interest period of 32 years and a loan amount of 260,000€. It is a [volltilger]. Therefore, I do not consider the [volltilger] at 2.39% for 25 years a dream.