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KfW loan for new construction: How to achieve energy-efficient construction! What to do if banks reject funding applications?
KfW modernization loan for climate-friendly construction projects
For energy-efficient construction projects, the KfW Bank grants state loans on favorable terms. The funding can probably be used until the end of 2023.
There should be up to €150,000 per climate-friendly residential building. Some banks are opposed to these loans and want to issue in-house loans. The following article shows what you can do.
What is the KfW modernization loan?
KfW provides funding to encourage the construction of energy-efficient buildings. The cheap loan can be particularly worthwhile for private individuals!
The construction of buildings according to the so-called “Efficiency House 40” standard is supported. The energy requirement of the property should be a maximum of 40% of the requirement of a conventional house and must not fall below set limits for greenhouse gas emissions. Additional financial support is available provided the “Sustainable Building” quality seal is also met. Applications can be submitted by investors, companies and also private developers. The effective annual interest rate is comparatively low depending on the term. It should be noted that interest rates are dynamic.
You can get an overview of the current interest rates on the KfW website:
Bank rejects KfW loan
Since the loans are not granted directly by KfW, they have to be passed on to end customers by the banks. The application process is carried out through banks where the applicants are customers. The house bank checks whether you have creditworthiness or whether you can arrange the KfW loan. However, this process involves additional effort for the banks.
For this reason, it is often preferable to offer and arrange an in-house modernization loan. The planned house construction or renovation will be more expensive. Consumers in particular are turned away for various reasons such as a lack of security or too high a mortgage. However, it is worth remaining persistent and seeking legal advice in an emergency. The banks may be pressured to pass on the KfW loans.
What can I do for my KfW loan?
The actions of various banks have already been criticized by consumer protection associations in the past. Therefore, it should be checked in each individual case why the bank rejects the funding application. The conditions under which KfW supports construction projects must be determined by energy experts, among others.
If all the requirements are met and the reasons for rejection listed by the bank are not tenable, it makes sense to hire a lawyer. Together we will check your legal options to get a KfW modernization loan, if necessary through legal proceedings.
Attorney Hermann Kaufmann provides comprehensive advice on the subject “Rejection of KfW loan” available as a lawyer: please feel free to contact us!
Advice on the KfW loan
Is your bank having problems granting KfW loans? Would you like to apply for a KfW loan for a new building or a KfW modernization loan and just can’t get it through? We’ll take care of your matter!
For personal advice, you can reach us by phone at 04202 / 638370. You can also contact us directly by email at info@rechtsanwaltkaufmann.de.
The information contained in this article is for general information purposes and does not apply to any person’s specific situation. They do not constitute legal advice. In specific individual cases, this content cannot replace individual advice from specialists.
An individual consultation with an attorney is recommended to assess your specific situation and develop a tailored approach.
Questions and answers on the topic KfW loan new building:
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What is the KfW loan for new construction?
The KfW New Construction Loan is a means by the federal government to enable climate-friendly construction and to promote energy-efficient construction projects through affordable loans. Builders can receive up to €150,000.
- Am I entitled to the KfW modernization loan?
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How do I proceed if the bank causes problems with the KfW new building loan?
In each individual case, it must first be checked whether your construction project is eligible for funding. If, after careful examination, there are no valid reasons why the bank refuses funding, legal action can be taken.
More on the topic of KfW modernization loan:
Sources on the subject of KfW Loan 153:
2024-02-29 13:05:38
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