When do my mortgage payments start?

In Germany, you only start repaying your mortgage as soon as the entire loan amount has been disbursed. If you are buying a new build, the payments are typically made over seven instalments, from start to completion according to the progress of the construction. You will start paying interest from the day you take the loan. The first part of the costs will typically be paid out of your own savings, from the day of the notary onwards you will start receiving the first invoices - first the real estate broker, then the property transfer tax, then the notary, followed by the first instalment. Typically, each instalment will require you to send a purchase order to the lender, who then disburses the instalment one payment at a time.

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