Z15 loan experience? What to consider?

Hello everyone,

who among you has experience with the Z15 loan.

We want to build a house including land for 500,000 EUR. We have 40,000 equity and a condominium of about 120 sqm (market value about 150,000 - 200,000) with a remaining debt of 80,000 EUR which we do not want to sell. At least not immediately.

I spoke with the L-Bank and found out the following.

Maximum living space 175 sqm (with 3 children)
A study could count as usable space
Equity 8.5% of the construction sum, rest own contribution minimum 6.5%. Then the L-Bank has the first priority in the financing.

Subsidy amount 270,000 EUR at 0.5%, the rest must be financed through the bank.

How do you assess the financing? Is it possible to find a bank that will finance about 200,000 EUR as a second priority or is it practically impossible to get relatively good conditions?

Unfortunately, that won't work.
The subsidized loan is only granted if there is no adequate residential property owned yet.
Adequate for the L-Bank is 90m² for 4 people, for 5 it might be 100-105m².

Regarding your last question: No, you won't find a bank for that.
You would have to cover the remainder with the supplementary loan from the L-Bank, but that problem won't arise anyway.

not quite. We are lucky there. We currently live in Bavaria. And then we will move to BW. Therefore, it is not relevant for us. (Statement advisor LB)