Which banks currently have good offers?

Hello!

Currently, insurers who also provide construction financing are active in the market. They also offer very good conditions. However, they select the "better" projects. That means good creditworthiness, maximum loan-to-value ratio of 90%. In other words, you need to bring some equity capital.

I can only agree with that. We also financed through a large insurance company and got, by far, the best conditions here.

However, the process also went through an intermediary (financing company of our house provider).

Regards,

Dirk

Thanks for the feedback so far!

We know pretty exactly what we want and will proceed exactly as Michalko suggests. Therefore, it does not take much time to get and compare offers from several banks, brokers, and insurers.

@HilfeHilfe
We will have an expiration of about 65%. I have already seen on some comparison portals that insurers are competing at the top. The big interest jump is from 10 to 15 years fixed interest. From 15 to 20 years, however, there is hardly any difference, which makes me tend to conclude for 20 years. Then make as many special repayments as possible instead of building savings constructions or similar.

Regards
klblb

Hello

definitely makes sense! As the 'Doc already said. Brokers are most likely to get the best offers

Hello, we also looked for an independent broker. We then took his offer >>> financing through an insurer, who simply had the best conditions. For comparison, we also went to two banks; they immediately wanted to push a building savings contract on us. That was out of the question for us. It was important to us that he made a clear, understandable offer and was not obviously working for a particular provider. We had a good feeling with him. Best regards

For us, the largest German insurer offered the best conditions for the 20-year fixed interest period. Interestingly, a financial intermediary also offered this insurer – however, their conditions were marginally worse. I think the insurer themselves already included existing insurance policies in determining the conditions.

Two financial intermediaries offered us KfW loans with a 0.30% interest rate discount.

However, we also had bad experiences with one financial intermediary. They only provided us with a regional defensive offer (with a 15-month fixed interest period, 0.6% worse than the aforementioned insurer with 20-year fixed rate). They did not even attempt to mediate with other regional providers.

That’s why I contacted another intermediary. They will be awarded the contract tomorrow. It is the same one who also offered the insurance (slightly more expensive). They found us a regional financier whose conditions are slightly worse. However, regional financiers can better assess the regional specifics (for us, cross-border commuters and job prospects in the neighboring country). In addition, they are (hopefully) more willing to compromise in an emergency. This is worth the extra 3 – 4 euros per month to us.

Hello,

I wouldn’t judge whether an intermediary is good or bad based on this. Not every intermediary (whether large or small) works with every bank & insurance company. Many banks expect you to connect to them electronically. Often, the smaller ones get left out because it’s too expensive.

But it sounds great if you’re getting such an amazing offer. Sounds like a full repayment loan over 20 years. One can also understand the insurers. They have to generate returns. If you choose only 0.6% for a German government bond and 3.0% for pure real estate financing, you’d choose the real estate financing. The guaranteed interest rates have to be earned somewhere,

Hello,

I wouldn’t judge a broker as good or bad. Not every broker (whether big or small) works with every bank & insurance company. Many banks expect you to connect to them electronically. Often the smaller ones get left behind because it’s too expensive.

Well – the point is that this broker created and sent us only one offer – precisely this defensive offer. If he had provided two more, it would have been okay from my point of view, but as it is.
Allegedly, he even has a good reputation. He was recommended to me by our general contractor, as he had received very positive feedback from his customers.

Well then. But I don’t have to be upset about it. If someone doesn’t want to make money the easy way, that’s their problem (I had already specified the desired financing method, including the fixed interest rates, fixed terms, etc. set by KfW and ISB (a state bank)).

Sounds like a full repayment over 20 years. You can also understand the insurers. They have to generate returns. If you choose only 0.6% for a German government bond and 3.0% for a construction loan, you choose the construction loan. The guaranteed interest rates have to be earned somewhere,

Full repayment - let’s wait and see. I am aiming for it – currently planning with a 25-year financing. Let’s see how the salary develops (possibly increasing the special repayment).
First expiry of an interest rate fixation – KfW = 10 years (either repayment through the building savings contract balance or extension of the remaining loan)
Second expiry of an interest rate fixation – ISB (subsidized financing from the state) = 15 years – extension of the remaining loan after (hopefully made) partial repayment
Third expiry of an interest rate fixation – bank = 20 years – expected final repayment through mature life insurance

For the extensions, each time – depending on the existing interest conditions and remaining balance – a (partial) residual financing on a variable basis is also an option.

In any case, it is a reasonable option for the insurers (just like investing in a well-known football club [neutral perspective]). Hence the tip to the original poster that the insurers could also be a corresponding alternative.

Commerzbank currently has very good offers! Until the end of February minus 0.25%. Fixed for 10 years approx. 1.90%