At the start of 2016, more mortgages were closed through the major banks. Homeowners who relocate or relocate in particular opt for the traditional top.
Fewer mortgages via large bank
The time that almost 3 of the 4 mortgages were taken out via a major bank has long been behind us (end of 2011). Last year, the joint market share of Rabobank, Good Finance and Goodbank fell to 46%. For the first time, less than half of the mortgages were closed by the traditional top.
Competition on the mortgage market is fiercer
The big banks have gotten more competition from new entrants on the mortgage market. With a low mortgage interest rate, these price fighters quickly grab market share. At the same time, the banks received stricter capital requirements imposed by the regulator, making it more difficult for them to compete on price.
Revival of the big banks?
It is striking that the market share of the 3 major banks grew again in the first quarter of 2016. This appears from an analysis of market researchers IG&H. They see that homeowners who take out their mortgage or move house are more likely to opt for a large bank. In addition, this group is growing strongly.
Popular with refiners and transferers
In the first quarter of 2016, the lender processed 50% more transfers than in the same period last year. 36% more homeowners have also moved house. These refiners and transferers more often opted for a large bank. According to IG&H, traditional banks fit better with this target group, the situation of which is often more complex. Banks, for example, can provide more tailor-made solutions and often still offer old mortgage products.
New lenders remain
This does not mean that the new lenders are already returning. The market share of the so-called control parties remained stable until the beginning of 2016. Many of these new entrants are institutional investors who invest in the Dutch mortgage market through a control party.
Starters opt for cheap and simple
These new lenders attract relatively more starters. These new homeowners do not have an old mortgage and are required to pay off the mortgage interest deduction. This fits perfectly with the simple mortgage products of the new lenders. In the meantime, investors get value for money, namely a good return and a low risk.
Expand success formula
The control parties are expected to further expand their formula for success. The low mortgage interest rates in combination with the improving housing market offer plenty of opportunities for this. The control parties are not hampered by the stricter capital requirements of the regulator.