Refinance existing loans with a construction loan

There is an update from ING. The existing loans will no longer be redeemed by ING but must be done by us. This means that the funds were always disbursed in advance and then the loans had to be redeemed by the borrower. However, this has not worked as intended in recent years and the money was misused. So the bank now says that they will no longer do this. Which is completely stupid because I could provide proof that it was redeemed and you can also see that in the Schufa. Banks are sometimes really stupid.

I think I gave the wrong value for the house earlier. Not 399000 but 426000.

Yep, you did. Then please don’t be surprised that the numbers are being thrown at you

and the money was misused. So the bank now says it won’t do that anymore. Which is totally stupid because I could provide the proof

You can only provide the proof once ING has given you the money to pay off. That means ING has no security that you actually do it. So ING would basically have to pay off your loans directly. But that is already too far removed from the technical mass processing and therefore probably won’t be done.

Yep. That's how I see it too. We don't fit into the scheme f and that's why they're being obstructive. It's also funny that their household calculation includes the installments of the existing loans even though they are supposed to be paid off. It doesn't add up at all and that's why it's red. The same applies to Allianz. Apparently, they now have the same system as ING. If we refinance the loans now into a private loan from DSL over 10 years, we get the green light from ING again. Unbelievable...

Tip: ING sometimes simply makes mistakes in the evaluation. Then only personal contact of the advisor with ING helps, preferably at the supervisory level.

But then you do have a way, so you can calculate. Private loan for the old debts. What does your burden look like for the loans, plus kitchen financing? Calculate with your numbers, and then take a second scenario with additional costs of €30,000 to €50,000. How does it look? Then you know more and compare it to your income. For example, how long will there be child benefits, maintenance, and others? When will the children leave the house? And do you need the size, or is 150m² also sufficient? When do you want to have everything paid off?

Tip: ING sometimes just makes mistakes with the evaluation. The only help then is personal contact between the advisor and ING, preferably at a supervisory level.

He called there and spoke with an advisor. I will encourage him to ring again one level higher. Thanks for the tip