Landesgericht Berlin: Cancellation of the purchase of flats in the event of faulty loan financing A credit-financed purchase agreement of the Deutsche Kreditinbank AG (DKB AG) is canceled by the LG Berlin because he is in favor of the misrepresentation by the intermediary over the sum of the mont. Installment in the financial account. The plaintiff had alleged that she had been contacted by telephone to seek financial advice from her home.
The concern had been dispelled by the statement that the apartment after two years at any time lossless can be resold and that the apartment at any time without further costs zurÃ? Subsequently, the claimant and his wife signed a ready-made exclusive contract for the letting of a privately financed housing estate for a maximum price of € 180,000 with a commission of 6%.
The contract and granted the applicant and his wife a loan
Subsequently, they received a calculation example from a consultant commissioned by the DKB, in which the conditions of the “planned financing” were presented separately. The DKB took over the financing function after conclusion of the contract and granted the applicant and his wife a loan of 166,500 euros at an interest rate of 4.1% pa, a discount of 8,325 euros, a consultancy fee of 1% and a repayment of 2%.
Reason: The agents, which according to the loan agreement were also entrusted by the DKB with the explanation of the annuity loan to the claimant and his wife, had omitted only the repayment of 2% in the consultation and overview of the intended financing possibility. The complainant then demanded resignation for malice because the sale of the apartment after two years without loss is not possible, and explained the resignation because of a door-to-door business.
He had surpassed his role as a lender, brought about a dangerous situation and revealed no cognitive advantage. The DKB was convicted by the Berlin district court to reverse the purchase of the freehold apartment made by the DKB. The Court stated that the information provided by an investment broker in a “calculation of a real estate investment” over the monthly expenses of an annual fee relates to the obligations of banks not involved in the distribution transaction when the intermediary acts to initiate the credit agreement by means of this document.
If there the sum of the monthly installments is wrongly undervalued, because the repayment was not considered, and if the investor did not close the credit agreement with knowledge of the actual sum of the partial payments, there is an incorrect reference to the financing house bank opposite the borrower. This obliges BayernLB to pay damages in the form of the complete reversal of the subsidized investment.
However, the applicant must take into account all the tax advantages and investment income generated by the investment in the meantime. A credit institution is required to provide comprehensive and accurate information about the terms of the financing. In this context, the consequence of false information about the loan costs according to the Federal Court of Justice in Berlin leads to the complete claim for damages of the injured party and not only to the compensation for the differential damage.
It is assumed that a correct indication of the loan costs would not have resulted in either the conclusion of the loan agreement or the conclusion of the notarised purchase agreement. BayernLB is responsible for the misclassification; she has used the intermediary as a vicarious agent in the performance of its information obligations regarding the financing.
The tasks of the company include the misrepresentation. The Federal Court of Justice is of the opinion that the middleman acting in the scope of client, property developer or buyer models acts as an assistant in the sense of the banks not involved in the sale, insofar as his actions relate to the initiation of the credit agreement. With our specialist lawyers for banking and finance law, we look after injured investors throughout Germany.