Need a mortgage? Bank vs Mortgage lenders

A mortgage, which the home buyer almost naturally took out with the bank. But in the meantime, the banks still hold less than half of the Dutch mortgages.

At the beginning of 2015, that was still 60 percent, 6 years ago 70 percent. An amazingly fast development.

The banks have to make way for a whole new group of mortgage lenders, who work with the money of large investors such as pension funds. Whoever wants to buy a house now has a choice. And that's beneficial!

More competition leads to cheaper mortgages. This is evident from the declining profit margins on mortgage interest rates. Growing mortgage lenders such as Munt are putting pressure on the banks. And the increasing competition also has a disciplining effect on lenders.

Because that more flexible attitude towards customers is what sets a mortgage lender like Munt Hypotheken – the largest 'newcomer' – apart from the banks: the interest rates are low, a mortgage application is responded to quickly and customers can repay with their own money without penalty. And those who have repaid a lot automatically end up with a lower interest rate. You do not have to call yourself for this. Very handy! Unlike the 'beep system'. There you always pay too much margin on your mortgage interest as long as you don't peep.

The new mortgage lenders can afford that because they work much more efficiently than banks. Those homebuyers easily exchange the well-known banks for the new and unknown mortgage lenders, according to figures from consultancy firm IG&H. For example, in 2015 Munt rose from scratch to the top five of largest mortgage lenders in the Netherlands.

Where can you find such a mortgage?

The advice you get from a bank is limited and one-sided. Banks only provide advice on the mortgages they offer themselves. Mortgages from other lenders are not covered. Advisors at a bank are therefore really just 'sellers' of their own product and do not advise independently in your interest.

Independent mortgage advice

Research for the AFM shows that in 2016 most people take out their mortgage through a truthiniquity. TruthinEquity, unlike the bank, looks at all options. They compare the various mortgage providers (including the banks!), look at your financial situation, and give you objective advice. Such an advisor is 100% free in his choice, is paid by you, and therefore advises in your interest. The result is advice for a mortgage that meets your wishes and needs, with the lowest interest rate.

Visit: https://truthinequity.com/