A rejection of the loan application is no reason to give up the home forever. The credit history is obliged to delete the entries after a certain time.
Increase opportunities on the real estate loan.
Anyone who behaves impeccably, has at the latest after a few years again a faultless credit history information and requires no real estate loan despite credit history more. As this can also significantly reduce interest rates, future borrowers may well be optimistic about the future.
The time that elapses can also be used to save equity. In this way, borrowers improve their negotiating position significantly.
Are there real estate loans without credit history?
Real estate loans without credit history are granted by foreign providers to Germans. Above all, Switzerland, Liechtenstein and Japan are often promising targets for people who need a debt-free loan because of the low interest rates.
Since the credit history is only active in Germany, entries of the borrowers there are completely irrelevant. However, this does not mean that there would be a debt-free real estate loan without a credit check. Banks abroad also check exactly whether a loan would pose too high a risk. If you do not have a regular income of at least € 2,000 you will not have a chance to get a loan there.
What to look for in foreign real estate loans?
Foreign real estate loans without credit history are much better than their reputation suggests. Nevertheless, borrowers should never forget that there are dubious providers in the market. Therefore, interested parties must always study offers and fine print in detail and discuss with an independent person who is familiar with financial contracts. Only in this way dubious offers and overpriced loans can be excluded.
As long as there is no financing commitment, borrowers should not sign contracts. This applies especially to residual debt insurance and term life insurance. Of course, no insurance should be completed otherwise. If this is compulsory, especially if there is no commitment, it is usually dubious intermediary of loans without credit history.
On the other hand, it is normal for intermediaries to demand a placement premium. However, this is only due at the time of the conclusion of the contract. Advance payments should never have to be made when arranging a real estate loan without credit history. Borrowers should also pay attention to transparency in pricing. A good broker calculates his utility costs with the brokerage premium and never surprises his customers with additional costs.
A special feature are also special foreign currency loans. Once the loan amount is fixed in the contract, not in euros, but in the local currency, it is almost impossible to speak of a normal loan without credit history. Instead, it is much more of an investment opportunity that offers great return opportunities, but at the same time has a high risk. Anyone who does not know what he wants to do with such a contract should therefore insist that the loan-free loan is given in euros.