Refinance existing loans with a construction loan

Could be at least. But something like that a good financial advisor would say immediately.

Right. But only if the property would have to be financed as well!

The property has already been purchased! See above

Yes and? What did I calculate wrong? Don’t tell me there is still an additional financing for that?

The property has already been purchased! See above

The bank calculates: Value of the house + value of the land = total value From this, they deduct a discount, usually 15 - 20%. You are left with 490k. You want 466k, which results in 95%.

General information about you:


• How old are you? 41 and 47
• Are there children? 7 and 14
• Are children planned? no
• What do you do professionally? Mechatronics technician and media designer
• Are you employed, self-employed, retired, housewife, househusband, etc...
• How many hours do you work? 40h and she 30h
Income and asset situation:

• What income do you have (net)? 4100
• How much child benefit is there? 408
• Other transfer payments such as parental allowance, sick pay, etc...? Care allowance for the children 860, maintenance 420
• How much equity do you have?
• How much equity do you want to invest in the house project? 10000


House price house with 10k buffer and 10k for kitchen 399000
Outdoor facilities lump sum 20k
Additional construction costs lump sum 20k
Car loan 148 monthly with remaining debt 11000 which still runs for 6 years
Consumer loan 316 monthly with remaining debt 16000 which still runs for 5 years
Plot was purchased in 2012. Valued by the bank at 155k
House is a city villa with 188sqm and 52sqm solid garage

Outdoor facilities and incidental costs are already set too low. I would estimate ancillary construction costs at a minimum of 60,000 for the house price.

Loan-to-value ratio too high. Very simple.
440k house costs + 155k land + 18k equity/EL = 613k minus 20% safety discount = 490k
Loan 466k thus 95% loan-to-value ratio

Financing at the limit - I told you so

Wrong.
466k plus 155k plus 18k