Real estate buyers in Germany have to meet higher requirements at some banks when granting loans.
Because of the enormous inflation rates and the worse environment for residential real estate in the rise in interest rates, financial institutions are taking a closer look, as a dpa survey of large banks and credit brokers shows.
Banks also accept higher living costs for interested parties.
"Due to the sharp rise in inflation, driven in particular by high energy prices, we had to adjust our minimum requirements for living and management costs as part of the credit rating," said a spokesman for Deutsche Bank.
Cost plays an important role in how much free income potential buyers have and their creditworthiness.
However, an increased rejection rate is not observed.
Commerzbank announced that it does not approve every loan request.
"Increased financing costs and the cost of living mean that it may not be possible to meet every financing request."
The credit broker Interhyp is observing that customers are choosing a longer fixed interest rate given the tougher environment.
In the first six months of 2022, it was 14.1 years on average after 13.2 in the first half of 2021. Buyers brought 159,000 euros in equity, a year ago it was 129,000 euros.