Apply for a permit as a commercial real estate loan broker
service description
You would like to arrange the conclusion of real estate consumer loan contracts or corresponding paid financing assistance or advise third parties on such contracts. For this activity as a real estate loan broker, you need the appropriate commercial license.
You have a legal right to have the requested permit granted, provided there are no grounds for refusal in your person. To do this, you must be personally reliable, have orderly financial circumstances and demonstrate your expertise and the conclusion of appropriate professional liability insurance.
You must also have your main branch or headquarters in Germany and wish to carry out your commercial activities in Germany.
If you employ people who are involved in mediation or advice or who are responsible for this activity in a managerial position, they must also have proof of expertise and be reliable.
After starting your work, you must have yourself and the people directly involved in the placement or advice or those in a managerial position responsible for this work entered in the intermediary register.
The permission can be limited in terms of content and linked to additional provisions if this is necessary to protect the general public or the borrowers or is requested by you.
Permission to work as a real estate loan broker can be granted to natural and legal persons. The permission is personal, i.e. you cannot transfer a permission in your name to another person, nor can another person transfer a permission in their name to you.
Credit institutions for which a license has been granted in accordance with Section 32 Paragraph 1 of the Banking Act and branches of companies within the meaning of Section 53b Paragraph 1 Sentence 1 of the Banking Act do not require a permit. Under certain conditions (including an information procedure), real estate loan brokers who have been granted permission to broker real estate loans by the competent authority of another EU member state or EEA contracting state also do not need a permit.
procedure
In order to obtain a license as a commercial real estate loan broker, you must submit a corresponding application together with the necessary documents to the responsible authority.
- If this is offered by the respective authority, it is possible to submit an application online.
- Together with the application for permission, you can already submit an application for entry in the broker register
- The authority will check whether you meet the requirements based on your information and submitted documents.
- After checking, you will receive permission
You may only start work once permission has been granted.
requirements
In order for you to be granted permission, you must
- be personally reliable,
- have orderly financial circumstances and
- appropriate professional liability insurance (financial loss liability insurance) as well
- demonstrate sufficient expertise and
- Have your main office in Germany.
If you employ people who are involved in mediation or advice or who are responsible for this activity in a managerial position, they must also have proof of expertise and be reliable.
- Real estate loan brokers are not permitted to work as fee-based real estate loan advisors.
What documents are required?
- Identity card or other official identification document with a photo (not applicable if the application is submitted electronically).
- Proof of the application for a certificate of good conduct to be presented to an authority (Section 30 Para. 5 BZRG),
- Proof of the application for an extract from the central commercial register for presentation to an authority (Section 150 Paragraph 5 GewO),
- Excerpt from the debtor list of the enforcement court (§ 882b ZPO),
- Information from the insolvency court as to whether proceedings have been opened,
- If applicable, certificate in tax matters from the tax office,
- If applicable, certificate of clearance from the local tax office,
- Proof of professional liability insurance or equivalent guarantee,
- Proof of expertise,
- Excerpt from the commercial register for legal entities and commercial partnerships if the relevant entry is made, otherwise a copy of the partnership agreement or statutes (e.g. for the GbR).
What fees apply?
Depends on the respective administration fee schedule of the state or on the fee statutes of the bodies responsible under state law.
legal basis
What else should I know?
The brokering of loans that are not secured by a mortgage as well as the brokering of loans secured by a mortgage to companies is subject to the authorization requirement in accordance with Section 34c Paragraph 1 Sentence 1 No. 2 GewO. If you would like to arrange the conclusion of both real estate consumer loan agreements and other loan agreements, you will need permission in accordance with Section 34i Paragraph 1 Sentence 1 GewO and Section 34c Paragraph 1 Sentence 1 No. 2 GewO.
After starting your work, you must have yourself and the people directly involved in the placement or advice or those in a managerial position responsible for this work entered in the intermediary register.
Working as a real estate loan broker without the required permit is an administrative offense that can be punished with a fine. Violations of an enforceable requirement, of the requirements of the ImmVermV that are subject to fines and of the obligation to be entered in the broker register can also be punished as an administrative offense with a fine.
Applications / Forms