Auto banks are at least not the first point of contact for a building loan. The business activity of the automotive banks in the automotive sector appears to be too one-dimensional.
You can always find very cheap real estate financing at car banks.
The coup is that these are often not even awarded by the financial institutions themselves.
Which car banks grant loans for house building?
In Germany, almost all well-known car banks offer mortgage lending or are at least active in the area of real estate financing.
Two models are predominant: Agree bank, for example, grants the corresponding building loans on its own. The Spin bank, on the other hand, arranges contact with a financer for the loans. It does not act as a lender itself.
Why do car banks issue a home loan?
In part, the car banks use the financing to broaden their own assets. Building money or real estate loans are very safe, as there is a real equivalent of the loan. Due to the long term of the loans, the banks also have income security for decades.
Another possibility is that the car companies already own a large real estate division.
This applies, for example, to Cream bank and Agree bank, who also act as landlords in the locations where the plants are located.
Third, there is a trend among auto banks to become ‘normal financial institutions’. The business areas are constantly expanding.
You can also get daily and time deposits here, for example. This is based on the observation that many people still do not bother to compare loans, but instead handle all financing through their house bank.
How good is a loan from car banks compared?
First of all : It is absolutely advisable to carry out a comparison for home financing yourself. How good this is depends on your personal requirements. Those who have a strong credit rating will appreciate a loan with a long fixed interest rate for the building rates more than people who depend on paying the lowest possible rates.
In general, however, it can be said that car banks offer good to very good conditions and, above all, are flexible. If you make your own comparison for a home loan, you should therefore make sure not to hide it.