When it comes to mortgage lending, hurry is announced. Many builders and buyers want to quickly get their financing up and running. They are looking for their house bank, hoping to receive an immediate loan commitment. Hardly is this before, it will not be long until the loan agreement is signed.
However, such an approach is not smart. Nobody should sign a loan agreement before obtaining and comparing several financing offers from different banks. In particular, the outlook for lower mortgage rates speaks in favor of the comparison. Often there is the chance to finance cheaper with another bank. Even small interest rate differentials can lead to a huge savings due to the high loan amount and the long term.
Not only because of the possible interest rate advantage, a mortgage lending is recommended. There are other reasons why prospective borrowers should first seek and compare financing offers.
First, there is the feasibility of financing. The house bank does not always give its blessing. For some projects there is an increased risk that the bank will refrain from lending. Some banks are cautious, especially for holiday real estate and listed property. A very similar topic is mortgage lending without equity. It is possible, but not accessible by any financial institution. Some builders and buyers therefore have no choice but to look around the market comprehensively.
For which banks the best feasibility is guaranteed, can not say flat rate. Every mortgage lending is different, which is why it is best to examine the entire market. So there are the greatest opportunities to find the right financing partner.
Possibilities of financing
The next point in favor of a comprehensive mortgage lending comparison is the possibility of tailor-made financing. Each borrower provides his own and thus individual requirements for his financing. But not every bank can meet these requirements. However, there are sometimes considerable differences between the options available to individual banks. A targeted comparison can be used to determine which financing offers best suit the borrower.
The spectrum of design options is ready. A very typical example is the special repayment. Although many banks give their customers the option of special repayment, this is usually relatively limited. However, some people would like to have more room for maneuver because, for example, they have a performance-related income and thus, in good years, have the opportunity to make major special repayments. For other borrowers, it may be an advantage to be able to adjust the repayment installment or to include subsidies.
Try us – over 400 banks in comparison
Many people believe that bids from ten to twenty banks are being sought in a mortgage lending comparison. However, today’s options are more comprehensive. Our independent advisers are able to solicit and evaluate financing offers from more than 400 banks and building societies. This offers tremendous potential for minimizing the cost of financing while optimally adapting the loan to individual needs.
Take this opportunity too. We will gladly check free of charge and without any obligation how to optimize your mortgage lending and attract attractive conditions. We look forward to your inquiry.