Bafin warns against false recommendations for follow-up financing – and gives these tips

Bafin warns against false recommendations for follow-up financing – and gives these tips
home

Many homebuyers have reached their financial limits.

(Foto: E+/Getty Images)

Düsseldorf When homeowners look for help in Internet forums on how to secure their follow-up financing because of the sharp rise in construction interest rates, they find advice such as the “bonus tip”: Owners should suggest a revaluation of their own property at the bank, including their own expert opinion, in order to get better interest rates to obtain.

But caution is called for with these tips, explains the financial regulator Bafin. The Bonn authority went on the offensive this Wednesday to provide clarification with a view to incorrect advice such as the “bonus tip” and has published its own recommendations.

Under the current Bafin boss Mark Branson, the supervisors want to get more involved as consumer advocates and point out undesirable developments in the financial sector. The financial supervisors give these tips for follow-up financing:

1. Beware of social media recommendations

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