Beleihungsausläufe

Beleihungsauslauf is a term used in real estate finance to describe the loan-to-value ratio of a property loan. It expresses how heavily a property is financed by debt by comparing the outstanding loan amount with the Beleihungswert, the collateral value used by the lender to assess the loan.

Calculation and basis: Beleihungsauslauf = (outstanding loan amount / Beleihungswert) × 100. The Beleihungswert is determined by the bank or regulatory framework and is often lower than the market value of the property to provide security for the lender. The ratio can be updated if the property is revalued or the loan balance changes.

Usage and significance: The Beleihungsauslauf informs credit risk assessment, loan approvals, and capital allocation. A lower ratio signals more equity in the property and typically corresponds to lower risk and potentially more favorable loan terms. A higher ratio indicates greater leverage and may lead to higher interest rates, stricter amortization requirements, or additional collateral conditions. The concept applies to individual loans as well as portfolios and can influence risk management, pricing, and securitization decisions.

Typical ranges and variability: Values depend on jurisdiction, lender policy, and property type. Residential real estate often permits lower ratios, while commercial or specialized financing may allow higher Beleihungsausläufe, subject to risk controls and covenants.

Example: If a property has a Beleihungswert of 500,000 euros and the outstanding loan is 350,000 euros, the Beleihungsauslauf is 70%.