The Dutch mortgage market, banks lose a lot of ground. Today announced a new player coming back to: Tulip Mortgages. The company starts mid-May and will provide this year to 500 million in mortgages.
It is another newcomer in a short time. The best known is Munt mortgages, but also BijBouwe, Hypo Trust and the British party Venn Partners recently entered the market.
Banks make the mortgage industry are growing closer links and new providers jumping useful in there. In 2008, 70 percent of the mortgage was taken out with a traditional bank. Seven years later, that share dropped to below 50 percent. Smaller players fill this gap.
Competition is good for consumers
That’s good for consumers, says Hans André de la Porte of Vereniging Eigen Huis. According to him, there was a chronic lack of money lenders. Traditional banks had no desire to compete. “New products can not see, and though not lower interest rates all the way.” Therefore, the interest rate was sometimes 1 percent higher than abroad, he says.
Behind the new mortgage lenders often sit investors, such as pension funds. They want a little more money than the return they can get now at the fair or at the bank.
Warning
Watch out for the newcomers, warns De La Porte. They stunt with low interest rates and as consumers look like to look at. There are other conditions that are very important, so you may have to pay a penalty if you want to redeem more money.
RTL Z
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