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Building finance

Financing a property is a complex matter that requires attention to detail. Consequently you need a strong partner. Like comdirect’s Baufinanzierung PLUS building finance advice. Launched in the market in 2008 – the service established itself in a fiercely competitive market within a very short space of time. The results for 2011: financing of €465m placed, up 15% on the previous year. But it’s not just the numbers that are right. In 2011, financial magazine “Focus Money” and the Deutsche Institut für Service- Qualität (German Institute for Service Quality) awarded us first place in a test of direct building finance placed by banks for the fourth time in a row.

Transparent market overview, independent advice

comdirect’s Baufinanzierung PLUS differs substantially from the traditional property finance offered by most branch banks in Germany. We do not grant our own loans, but combine our personal advice with the independent placement of mortgage loans. Once the individual financing structure has been established, our employees search through the many products available to find the optimum financing for our customers. We have access to over 250 partners, including banks and savings banks, as well as insurance companies and building societies. We thus offer a transparent overview of the market.

It pays to compare – a small interest rate advantage means big savings

Is it worth the effort of comparing so many products these days when interest rates are historically low? Most definitely! We are generally able to place loans at rates that are up to 0.3 percentage points below the market average. At first glance, this doesn’t seem like much, but it pays off: even a slightly lower interest rate can save thousands of euros on these usually longer term loans. As the lowest interest rate is not always the best product for the individual, our Baufinanzierung PLUS team also scrutinise many details that are often overlooked. For instance, unscheduled repayments with no penalty or a combined product with a KfW development bank loan can reduce the interest burden overall and so make it significantly easier to repay the loan, but these are not available from all providers.

Virtual look over the adviser’s shoulder

What’s more, our customers can follow step by step and in real time how the terms and conditions and ranking of the best products change when the financing structure is optimised. Since spring 2011, comdirect has been offering this online live advice service – the first, and so far only, bank in Germany to do so. Via the internet, customers can see on their screens at home the very data their personal adviser is working on during the phone call. For example, how the interest rate changes if the unscheduled repayment is increased or repayment rate adjusted. The live advice service is not just available online, but is also on offer at our building finance locations in Berlin, Frankfurt/Main, Hamburg and Munich – where customers can view the screen over the adviser’s shoulder in the office. As with the telephone advice service, the building finance offices are a strong partner for property buyers and are able to guide them step by step through complex issues such as financing for a house or apartment.

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