NIBC Direct launches mortgages in the NetherlandsPress Release -
NIBC Direct, part of NIBC Bank, today announces the launch of residential mortgages in the Netherlands. Sold through three high-street mortgage providers - De Hypotheker, De Hypotheekshop and Huis & Hypotheek - the mortgages offer the distinctive NIBC Direct mix of simplicity, transparency and competitive interest rates.
The launch of mortgages is the latest step in the successful expansion of NIBC Direct, which has grown strongly since it began in 2008. It now serves more than 300,000 customers in the Netherlands, Belgium and Germany and has total savings of EUR 8.2 billion. NIBC Direct also offers brokerage services in Germany.
The NIBC Direct mortgages are 100% annuity mortgages, under which borrowers are rewarded for making repayments. Customers are charged a lower interest rate every time they move into a lower interest class (loan-to-value category), without having to wait until the revision date of their interest rate. This does not apply to NHG customers, who pay the lowest rate right from the start. This honest, transparent model is fully in the NIBC Direct spirit of "what you see is what you get".
Michel Kant, Managing Director of NIBC Direct, says: "Offering mortgages is a logical step in the expansion of our retail business. Our annuity mortgage is a first move into the mortgage market. We sell the product via financial advisors because in this changing regulatory environment, we believe it's important our clients receive the right advice from professionals with specialist knowledge in mortgages. NIBC Direct mortgages offer our trademark combination of simple products, no small print and competitive interest rates. Adding mortgages to our product portfolio perfectly fits NIBC Bank's ambition to further expand its consumer activities. NIBC Direct will continue to look for simple products that best serve its clients."