Which mortgage lender makes the best deals? That is the question that we wanted to answer with our practical test of mortgage lenders. To do this, our test subjects conducted a total of 131 consultations with banks and credit brokers. The result is sobering: Only four banks made mostly good offers.
Why the practical test is worthwhile for you
Only four providers are good
Only four out of 19 banks and credit intermediaries in the test achieved the quality rating Good. Here, our test customers usually get a financing concept that is suitable for them with low interest rates and clear customer information.
Recognize mistakes in advice
The providers were often wrong when it came to their financing proposals. Sometimes the loan wasn’t enough to finance the house purchase, sometimes the customers couldn’t afford the loan installments, other times the loan was too expensive. Our test shows which provider failed where.
Counseling checklist
Weaknesses in banking advice can be compensated for with good preparation and follow-up. Our checklist will help you with this.
Magazine article as PDF
After activation, you will receive the magazine article from Finanztest 2/23 for download.
All test results for practice test construction financing
Find good providers
The test included banks and credit brokers, regional and national providers. You can see which providers are included in the test results before you activate it.
After activation, you can see how the 19 providers performed in the test in the test points quality of the offer, customer information and accompanying circumstances. The judgments in all subgroups such as “Suitability for the customer” and “Cost” are also displayed.
Lack of advice costs customers dearly
Our real-world mortgage lending test shows that the bank’s advisors are often unreliable. Too often the loan amounts were too high or too low, the monthly installment did not fit or the interest rate was simply too high. Defects that quickly cost customers dearly. In extreme cases, a loan can cost up to 100,000 euros more from one provider than from another provider.
Borrowers should therefore prepare well for the interview at the bank. Our monthly mortgage interest rate comparison and our free mortgage lending calculator will help.
Advisory tests are among the most complex projects at Stiftung Warentest.
Conducted over 130 test calls
For our practical test of construction financing, we conducted six or seven consultations with 19 banks, nationwide a total of more than 130 consultations. We evaluated up to 100 pages of log sheets and loan offers for each case. All seven offers received from only one provider were good. He is the test winner.
