A fair consultation is not always a matter of course. The customer often relies on the professional competence and honesty of the building loan advisor. Many consultations are often only in the interests of sellers or consultants.
It is always the customer who is left behind! For this reason, it is advisable never to go unprepared for a consultation. The better prepared a consultation, the more precise the result will be for your building loan.
Prepare for a fair consultation
Make a list of your assets. Find out how much equity is immediately available to you for your building loan. It is also important for the future that assets that you can raise in the medium or long term. These include, among other things, soon expiring investments or savings accounts.
It is also important to know what it costs to buy or build your property. Take important cost factors into account. These include incidental purchase costs, costs for renovation or modernization. Don’t calculate too tightly.
The management costs of your future property often go unnoticed. The running costs of your property do not always correspond to the costs of your current lease. Some of the additional costs must be borne by the owner and cannot be passed on to the tenant. It is therefore very likely that the running operating costs of your own property are usually higher than if you live for rent.
Make a checklist of your living expenses. This makes it easy to determine how much money you have available for your building loan and the management of your own home. Do you have irregular incomes? You should not take this into account. This income should be better used for special repayments. Set a clear goal. When should your building loan be paid? This should definitely be before you reach retirement age. Get an overview of current building rates.
The fair consultation for your building loan
Before you start the consultation, point out to your adviser that your offer is based on anonymity! If you make a building loan request anonymously, this credit request is not saved. This means that they remain undetected if they obtain further building loan offers from other banks. This leaves your scoring untouched!
Get comprehensive advice on government funding for your construction loan. State-subsidized loans from Good Credit-Bank, Bau-Riester or regional support programs can significantly reduce your construction loan rate. If you attach great importance to interest rate security, you can also ask for a building loan with an extended rate fixation.
You have the option of fixing the fixed interest period to 15, 20 or 25 years. Even if the building loan becomes a little more expensive as a result, it gives you higher interest rate security for a longer period. At the same time, your building loan is paid faster with higher interest rates.
For fixed interest rates, it is important to know how high your remaining debt is at the end of the loan term. Let your building loan advisor do the math. Clarify exactly when and on what date your building loan is paid.
Ask your building loan advisor whether there is a possibility of a special repayment. At the same time, you should pay attention to how much your building loan is more expensive.
What is the rate for your building loan? What happens if the building rate rises to 7% after the interest rate is fixed. Get your mortgage loan rate calculated exactly here.
Let your building loan advisor draw up a precise financing plan. This includes the monthly construction loan installments and the remaining debt development throughout the loan term. Clarify which documents the bank still needs from you.
Ask for alternative construction finance. Which financing models are suitable for you. A combination of bank loans and building society contracts or similar is often useful. Let us explain exactly the advantages and disadvantages of alternative financing.
Building loan tip fair consultation
Better safe than sorry! Have all offers checked by the consumer advice center? You can be sure that you will receive independent and reliable advice on your offers. If you have decided on an offer, make a second appointment with this bank. Clarify further details about your building loan.
Get a building loan commitment from the bank before signing your property purchase. And the moral is? Only if you are well prepared and know what is important can you expect a reasonably fair consultation? Only those who negotiate with the bank on an equal footing have a real chance of a fair consultation !!!