Practice · Case studies

Blog: Difficult financings — how Olga finds what banks decline

Self-employed, non-residents, fluctuating income, residence abroad — three real cases and how they were solved.

The most frequent message I get reads: “Our house bank declined. Can you help?” Usually I can. Here I explain why — and what I do differently.

What banks classify as “difficult”

Banks work with assessment models built for the average client: employee, German income, domestic residence, a fixed salary. Anyone who falls outside this pattern often gets a rejection — not because the credit standing is poor, but because the model can’t process the situation.

The most frequent constellations I handle:

Self-employed and freelancers — high income, but fluctuating. Banks look at the last 3 tax assessments and often take the average or the worst year.
Non-resident taxpayers with residence abroad — EU or non-EU, the conversion right, no German SCHUFA equivalent.
Foreign-currency income — salary in CHF, GBP, USD, AED. Many banks apply a blanket 20–30 % discount.
Cross-border commuters — residence in Germany, employer in CH/AT/FR. Legally complex, few banks know their way around it.
Several existing financings — anyone who has already financed properties counts as higher risk, even when the cash flows are positive.
Short employment — under 2 years with the current employer, probation period, fixed-term contract.

My approach: submission before enquiry

The decisive difference between a good and a poor outcome lies not in the figures — but in how the story is told. Banks see hundreds of applications a day. Whoever submits a well-prepared file gets a decision. Whoever leaves gaps gets queries — or the rejection before the first conversation has even happened.

What I do before every submission:

Build a complete income picture — not just payslips, but the overall asset situation
For the self-employed: results of the last 3 years + current business analysis (BWA) + confirmed orders
For income abroad: clarify the conversion methodology with the bank in advance
Complete property documents — land register, declaration of division, energy certificate, tenancy agreement
Choose the bank for the enquiry that is open to this constellation — don’t ask all of them

Three real cases

Case 1 · Self-employed

IT consultant · Hamburg

Fluctuating income, three rejections

Annual profit: €180,000 (Y1), €95,000 (Y2 — project break), €210,000 (Y3). Three banks declined because year 2 was too weak.

Solution: proof of the order pipeline + a letter explaining the break + submission to two specialist institutions that assess freelancers systematically differently.

Result: financing at 3.85 % for €350,000, 20 years.

Case 2 · Non-resident, Dubai

German abroad · AED

UAE residence after removal from the risk list

Purchase price €480,000, equity €180,000. Standard banks decline a UAE residence. Since the EU removed the UAE from the risk list (June 2025) there are more options.

Solution: three banks that have financed UAE clients since 2025, proof of income converted to EUR at the official rate + a 3-month average.

Result: financing approved at 4.1 %.

Case 3 · Cross-border commuter, Basel

Residence Freiburg · CHF

Cross-border-commuter law assessed wrongly

CHF salary, conversion-right issue ruled out because residence is in Germany (no non-euro-country problem). But many banks don’t know the cross-border-commuter tax law and assess it wrongly.

Solution: only banks that know cross-border-commuter cases.

Result: financing at 3.72 % for €280,000.

What I cannot do

I am honest when a financing is realistically not feasible — poor SCHUFA, too little equity for the property, proof of income that isn’t available. But “the house bank declined” is not a verdict. It is the start of the search.

Olga Nikushkina
Mortgage financing specialist · §34i · Since 2016

FAQ on this article

Frequently asked questions

Can I get a mortgage as a self-employed person?

Yes — but choosing the bank and preparing the documents correctly is decisive. Three years of self-employment and complete tax records are the minimum requirement. I know the banks that systematically treat the self-employed well.

The house bank declined — are there still chances?

Usually yes. A house-bank rejection is not a universal assessment — it is the decision of that one institution with its standard criteria. Other banks have other models. My job is to find the bank whose model fits your situation.

How long does a difficult financing take?

From experience: 4–8 weeks from the first conversation to approval. For simple cases 2–4 weeks, for complex ones (residence abroad + self-employment) sometimes 10–12 weeks. Important: complete documents at the start — that saves the most time.

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