Renovation/Refurbishment gifted house + barn + shed + garden

Hello.

We are being gifted a house and wanted to take out a loan for the renovation/refurbishment. The barn and the shed at the house will probably not be touched at first because there won’t be enough money for that.

Is it possible to get a "regular" real estate financing loan for this?
Where on the internet can one compare loans for renovation/refurbishment?
Can the gift tax also be paid from the loan?
Can the payout to the relative for the part of the house also be paid from the loan?

We wanted to take out a loan under 100,000 euros. The amount is still uncertain.

Thanks for any help.

Of course you can get a mortgage - if the value of the house (after renovation) is sufficient as collateral and you can repay the loan. In the end, you can pay for anything you want/have to. There are plenty of people who mortgage their house for a new car :rolleyes: Besides the portals on the internet (Interhyp.... etc.), definitely also talk to your house bank. It could be that one or the other supraregional bank has some difficulties with the request.

Of course you will get a mortgage - if the value of the house (after renovation) is sufficient as collateral and you can repay the loan.

Does the value of the house count as equity for the loan? I have read on the internet so far that it is always better to bring in a lot of equity when taking out a loan because then the interest rate is not so high.

In the end, you can pay for everything you want/have to. There are enough people who mortgage their house for a new car :rolleyes:

I just read on the internet that the loan conditions state that the money from the loan may only be used for residential purposes. That is why I am asking.

In addition to the portals on the internet (Interhyp.... or similar), definitely also talk to your local bank. It could be that some of the supraregional banks have more difficulty with the request.

We (my wife and I) first wanted to get an offer from someone else before going to the local bank.