What would be good conditions?

Good morning everyone,

I am new here and would like to ask you for a brief assessment.

We plan to buy a house and renew a few things. It should not be a major renovation since the house is generally in good condition.

Overall, we have provided the following values to the bank:
Total requirement €290,000
Own work €20,000
Equity €140,000

Loan amount €130,000

Net salary per month he €3,000, she €4,000, although this salary will soon disappear, in the future probably around €1,500, one child

The amount should be completely repaid in 20 years. We do not want a building savings contract or similar but a simple annuity loan without much fuss.

What do you estimate, what conditions would be good here? What rate should we expect?

Best regards

Salary per month he 3,000 €, she 4,000 €, although this salary will soon be discontinued, in the future probably around 1,500 €, one child

Gross or net?

all net, added it above

When it comes to salaries, definitely go for 10 years. A completely normal annuity loan. Then you get an interest rate of about 1.2%. You can calculate the installment yourself. In any case, I would agree on at least 3% repayment plus 10% special repayment.

With a fixed interest period and term of 20 years, it should be possible to keep it under 2%. Indication from the cooperative sector ;-)

Interest approximately 1.1 to 1.2 fixed for 10 years. 8% initial repayment results in about €990 installment and a remaining debt of €20,000.

Are you sure the place is that cheap? :)

Otherwise, congratulations on two decent salaries in an apparently structurally weak/affordable region.