Questions about the financing offer

And you both want to take more or less the whole month off?

Calculate how long it will take you to clear out the old apartment (and possibly renovate it), how long it takes to tear up all the floors in the house and then lay them again, and how long you will probably need to tape everything off and paint. The kitchen will probably take at least a whole day to install (rather two).

Since the floors are only on one level, it should be doable in one month. I myself come from a craft/trade background and have done this before. And besides that, we have a circle of friends who are also skilled in crafts. I also already have experience with kitchen installation.

We are aware that it will take some time and that it certainly won’t be done with just weekend work.

On the other hand, you will have more space than before afterwards and could still carry out some work even after the move.

I had completely forgotten that a kitchen doesn’t count as a personal contribution, but other valuable measures (floors and painting) should certainly be included, right?

GinTonic:

The offer for the repayment loan comes from the DSL Bank. The building society savings contract is from BHW.

And yes, we have to mortgage 100%.

We haven’t decided yet, that’s why I asked here. I lean towards option 1 without a building society savings contract. My girlfriend leans more towards option 2 because she wants to take as calculable a risk as possible.

GinTonic:

The offer for the amortization loan comes from DSL Bank.
The home savings contract from BHW.

And yes, we have to finance 100%.


We have not decided yet, that is why I asked here.
I tend towards option 1 without the home savings contract.
My girlfriend prefers option 2, as she wants to take on as calculable a risk as possible.

Funny! It's exactly like with us. But DSL Bank didn’t offer us such a low interest rate. How did you come to this bank? What do the banks say about you having so little equity?

How high can your monthly burden be? Do you have children?

Spackling, painting, floor coverings, including tiles, exterior paving work are classic, valuable do-it-yourself tasks. Installing a kitchen as well, because it actually saves money. Ikea charges us, for example, 891,- for it. To have or not to have.... The advantage of doing it yourself is also that you can sometimes get the materials cheaper than through companies. For example, there is always someone on Ebay Classifieds selling paving stones cheaply. Finding leftover tiles for a guest bathroom also always works. Set tiles at 30 per sqm without tiles. Floor vinyl 35 sqm in a new build without material. Spackling Q2 5,- per sqm with mass. Wall paint including primer, two coats 6,- per sqm including material. Staining roof overhangs twice with Konsolan plus one coat of insulating paint, two working days 1.5 people, 24 hours times 30,- euro plus material. About 10 l Konsolan and 5 l insulating paint. Paving prices are said to be 100,- euros per sqm laid including material. Karsten

Funny! It's exactly like with us. But the DSL Bank didn't offer us such a favorable interest rate. How did you come to this bank? What do the banks say about the fact that you have so little equity?

How high may your monthly burden be? Do you have children?

They were offered to us by an independent advisor.
We are trying to achieve a monthly burden for the installment of about 1200 EUR.
Therefore, of course, we are also trying to do quite a bit ourselves.
He was able to get the interest rates by outsourcing a part (€17,000) to the Investment Bank SH (according to his statement).

We do not have children yet.

With the relatively low equity, we have had no problems with the banks so far.

The whole house is not supposed to be renovated either.
It is only about floors in the upper floor and probably painting all interior walls.
Nothing needs to be done on the outside for the time being.

What is interesting for us at the moment is only to find the best financing.

These were offered to us by an independent advisor. We are trying to achieve a monthly payment for the installment of about 1200 EUR. Therefore, of course, we are also trying to do quite a bit ourselves. He was able to achieve the interest rates by outsourcing a part (17,000 EUR) to the Investitionsbank SH (according to his statement).

We do not have any children yet.

With the relatively low equity, we have had no problems with the banks so far.

The entire house is not to be renovated either. It only concerns floors on the upper floor and painting probably all the interior walls. Nothing needs to be done outside for the time being.

For us, it is currently only interesting to find the best financing.

Ah, so you only have offers so far, no real loan application yet. For us, problems started from that point on. After examination by the bank, the advisor could no longer maintain his offers as they were.

We excluded own contribution.

I am surprised that you can get the 17 thousand at such a good interest rate. Here we are at 6%.

Is the Investitionsbank something special?

Good luck finding the loan, we are close to giving up as we are not getting what we imagine and want.

What remaining debt remains on your annuity loan? After how many years?

Right, so far we have received financing proposals.

That doesn't sound good. Now we probably have to think about it as well?

So far, we have relied heavily on the advisors to stick to the conditions.

The residual debt after the 20-year fixed interest period is 136,427 EUR.

I'm just failing with the calculation at the moment.
If I calculate with 6% interest, which is quite possible, I always end up with a rate around 1300 EUR. Which would probably blow our finances and, against this background, the variant with the [Bausparer] would be more attractive.
However, the advisor always talks about under 1000 EUR.
That of course confuses me.