Loan Tender For Mortgage LendingFinance
In the past week, Immobilienscout 24 has launched an interesting web project on mortgage lending. Under the independent portal “My mortgage lending” you want to give potential borrowers such as builders, buyers and follow-up financiers the opportunity to publish their own tenders on the Web. Lenders can apply for these tenders or submit their terms and conditions to interested parties.
The underlying idea is simple
Instead of those interested in the search for the right real estate financing and spend a lot of time, the spit is just turned around. Banks and financial intermediaries submit their financing offers, from which the interested parties can select. In order to protect the interested parties, the offers are kept anonymous: Potential lenders see only the framework data on the sought financing, for which they can make offers and submit. Interested parties decide themselves later with whom they want to get in touch.
The search for financing is extremely attractive
Basically, this form of search for financing is extremely attractive: a comparatively low effort makes it possible to encounter a large number of loan offers. However, the model also carries certain risks. In the end, the loan providers can advance with comparatively many offers to the customer. It may be possible to lure with financing offers linked to certain conditions, such as the additional completion of real estate insurance.
On the second view, such financing is usually much more expensive – and perhaps the “reputable” providers offering exclusive financing will be pushed into the background more quickly because of the not so good interest rates.
It still remains to be seen how this offer will be received and what benefits it offers the prospective customer. It may well be worthwhile to make a request as an interested party – in addition or independently to contact other banks and agents, but still remains to be recommended.