The digital revolution and the digital transformation taking place in consumer behavior have provided fertile ground for the emergence and expansion of online banks. The latter have structurally changed the banking market by calling into question the hegemony of traditional banks. Long reluctant to offer mortgage loans, 100% digital banks now use them as real calling products. What are the offers to stand out and what are the advantages of taking out a mortgage with this type of establishment?
Online banks: A growing place on the mortgage market
While only two online banks had positioned themselves on the mortgage market only a year ago, new digital players are in turn making their foray into this sector. It must be said that the advantages offered by online banks are attracting more and more customers. Whether it is the realization of online simulations, attractive financing conditions or the possibility of following one’s file online, online banks manage to stand out from their traditional competitors notably through an optimal customer journey. The “pure players” have clearly developed an ability to grant mortgage loans much more quickly and in a less complex way than their traditional counterparts.
Pure players: Even more innovative mortgage offers
It was in 2010 that the very first mortgage offer from an online bank dates. Since then, the overall offer has widened considerably and these banks are focusing above all on transparency, particularly with regard to the profile of eligible borrowers. By way of illustration, one of the current online banks requires, in order to take out a mortgage, that the applicant be employed on a permanent contract, entrepreneur or even independent and has a minimum of five years of seniority. Another 100% digital establishment makes available to its customers a bridging loan in the context of the acquisition of a main residence occurring before the resale of their current home. Obviously, other very attractive conditions explain the growing success of online banks in the field of mortgage.
Some offer rates that are among the lowest on the market and, unlike most traditional banks, do not impose a domiciliation of income with them. Pure players have thus managed to gain a place of choice in a very competitive market, in particular by offering their customers dematerialized courses from the start to the end of the subscription process. By using electronic signatures and offering the opportunity to transmit all supporting documents directly from your mobile, this “paperless” process, which comes with the support of easily accessible specialist advisers, explains the French enthusiasm for mortgage offers set up by online banks.