Credit talks: “Your wife does not matter”

How do the proposals of a regional bank, a building society and an online bank for a home purchase differ? A credit conversation with Baufinanzierern sometimes shows abyss.

To secure the best possible terms, he wanted to talk with different possible providers. He went to a regional bank that advertises its local roots. A building society that prides its great seriousness. And, as a mediator to find an online bank, which boasts the best conditions among hundreds available.

“The credit you can afford”

The good news first: All consultants were very friendly. That could be because everyone wanted his interest and fees. can not be established reliably that. But certainly, financing would at least be a crash failed: that of building society.

The company’s representative was, in legal terms, independently, that lives on its financial statements. For the conversation, he had reserved one hour. He asked about the purchase price, shareholders’ equity and the net income of the potential borrower. The “expert” added to add the child benefit for three times the father and beamed his opponent a second later on “. The credit you can afford”

What he did not ask the income of the wife was. That was frightening because the father would have paid without the income of almost half of his monthly net amount of interest and principal to the building society. After all golden rules of mortgage lending which is way too much, after all, the apartment must still heat and the fridge waiting to be filled! In the head of the father, the alarm bells were ringing. but unfortunately only in his. When he nachschob when the opportunity that his wife also has a part-time position, he learned: “Your income would be enough even alone because your wife does not matter anymore.”

A bad deal

After 45 minutes, the representative of building society presented an offer which consisted of a single block: a redemption-free loan that will be replaced by a then ripe for assignment savings agreement after about ten years. Over the entire period counted, the borrowing rate was about 3.1 percent. The first sounded not bad. But was it. The word “Riester” did not take the “consultant” once in the mouth. So he concealed a triple family man those 100 euros in funding per month, due to him for about the next 20 years. After all, was the “expert” consistent: His commission of more than 2,000 euros, he also did not mention.

The online bank built in the financing, after all, a loan from the Reconstruction Loan Corporation, which lends for energy-efficient houses 50,000 euros to 1.8 percent. The Riester subsidy was offered in the two-hour meeting only on demand, the mixing rate was at the end of about 2.8 percent.

The financial question: Looking for long-term security

More convincing, however, the bank: two consultants rayed equity and monthly revenue and expenditure of all family members. They also examined whether the parents are against life risks such as disability adequately insured. The offer came a week later, the KfW loan, repayment-free loans and a savings agreement with Riester subsidy. Nominal interest rate just below 2.5 percent, no interest rate risk. The contracts have now been signed, but the initial shock is still deep practice. The psychologically important stage of processing continues.