The provider of mortgages in Germany is always a banks. You usually use your bank where you already have your account because they can make you a better offer with better conditions. But there are also websites where you can compare different providers.
In order to clarify this question, the “Who is Who” of the real estate financiers in Frankfurt is gathered once a year. Max Herbst, owner of the FMH financial consulting and grand seigneury of the German bankers, lends the FMH Award. For the past 25 years, Herbst has been analysing the conditions for real estate loans and has regularly selected the best suppliers of the year for four years.
A total of 14 members of the Board of Directors and eight directors and department heads had been present, including Wolfgang Müller, the board of BBBank, Michiel Goris, CEO of Interhyp, or Dieter Pfeiffenberger, CEO of BHW Bausparkasse. An award will be awarded to those who, with their Baufi offer in the 50 weeks of last year, had the highest average value of their category. For comparison, Herbst analysed the conditions for loans with a collateral of up to 70 and up to 90 percent and a fixed interest rate of 15 years.
The result of the elaborate analysis: The best superregional mortgage provider in Germany is SKG Bank. The institute was able to secure the FMH Award for the first time. The subsidiary of the Deutsche Kreditbank from Saarbrücken offered its customers the most favourable conditions for financing up to 70 percent of the purchase price as well as for a mortgage up to 90 percent last year. The BBBank from Karlsruhe, which so far has been ranked among the top three every year, took the second place in the 70% loan. The Mortgage Bank was insured by up to 90 percent before the insurer Signal Induna.
The comparison shows however: intermediaries or cheap banks on site are usually more favourable. Sparda banks and PSD banks make the first place among the regional providers. The Sparda-Bank Hamburg occupies first place in loans up to 70 percent before the Sparda-Bank Berlin and the PSD Bank Nuremberg. With a 90 percent loan, Sparda-Bank Berlin had the best conditions before the Sparda-Bank Münster and the PSD Bank Nuremberg.
This was a guest article by Christian Zurstraßen