There is a pronounced competition in the real estate loan business. The banks are therefore increasingly looking for ways and means to differentiate themselves from their competitors and thus to become even more attractive to potential customers. However, aspiring borrowers should not overstate the peculiarities.
For example, ING-Diba recently introduced so-called video legitimacy. This is an alternative to the Post-Ident procedure – after all, applicants must first prove to the bank that they are also the persons they impersonate. The peculiarity of video legitimacy is the advantage of not having to go to a post office, instead the ID is held in a webcam.
While such novelties may sound appealing to some budding borrowers, they should not primarily decide which provider to fund. After all, real estate financing is about a lot of money. Builders and buyers absorb on average around 170,000 euros – with such large amounts, interest rates are the key to keeping the cost of financing as low as possible.
Ultimately, video legitimacy is just one example of many. For example, there are still many people who prefer to finance their home bank. The local proximity to the bank gives them a feeling of confidence.
However, this trust is often overrated, because even direct banks work reliably and impeccably, after all they are subject to the same banking supervision. It makes more sense, therefore, to focus on the conditions. Even minor interest differential can have a huge impact and result in significant sums of money being saved over the years.
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