Withdraw from construction financing without immense compensations?

Good evening.

The following problem:

I have signed a construction financing agreement for €270,000 and would now preferably like to withdraw from it. None of the money has been drawn yet and the commitment interest is to be paid from May.

Now my question is, can I somehow withdraw from the financing without paying an enormous non-utilization fee? If not, how high would the compensation be approximately?

Regards

that is surely stated in the [AGBs]?!

We have a 14-day right of withdrawal

Yes, that is stated in the terms and conditions, but nothing about the amount. And maybe there is a way to avoid or reduce this.

Wir haben ein 14 Tägiges Rücktrittsrecht

Unfortunately, the 14 days have already passed.

... is the mortgage already registered in the land register? Maybe... I also don't want to ask directly what happened... it probably doesn't come down to "no more desire to build".... maybe a stroke of fate at the bank is a reason for them to let you off leniently? But you seem to be wasting your time, if the commitment interest is due in May, you signed in November?

After the cancellation period has expired, a "normal" exit is not possible. The bank has refinanced the loan and the prepayment penalty is the result of the damage the bank incurs. Have your bank provide a detailed calculation. This should then be reviewed by an independent party - calculation errors in favor of banks still happen frequently.

I only see an "exit from the contract" without a prepayment penalty if the contract contains formal errors. For example, in the case of a faulty cancellation statement, ... Have the contract reviewed by a lawyer specializing in banking or contract law. Maybe something will be found and you will get away with minor damage.

If not, it will probably be quite expensive. Without the complete contract data, it is not possible to say how high the prepayment penalty will be. It's a rather complex calculation.