Until now, there were 3 online banks offering mortgage loans. We will now have to rely on Best Bank : the creation of Crédit Agricole is finally marketing a mortgage loan offer. Initially expected in 2016, this offer finally arrives in April 2017, a month after a similar innovation from Cream Bank , and while rumors are running about the imminent arrival of Monabanq in the mortgage segment.
A quality online mortgage offer
On a technical level, Best Bank mortgage is like the rest of the products: very well designed. The APR amounts to 1.53% (including insurance and guarantees) for a standard loan of 300,000 dollars over 15 years, when the French average is 1.45%. Best Bank is therefore in the reasonable range, even low for this kind of loan. The minimum amount is $ 80,000, and the loans are repayable over a period ranging from 7 to 25 years. No personal contribution is required, and the repurchase of credit is possible without compensation to be paid, under conditions. In addition, it is possible to take out this type of credit for any type of housing: new, old, main, secondary, rental,… there are no restrictions.
Another very positive point: Best Bank offers great flexibility. It is thus possible to adjust upwards or downwards the amount of his mentalities up to 30%, within the limit of an extension of the repayment period for 24 months maximum. This possibility is a huge chance to face financial imponderables.
Enter a very competitive market
This launch is no small task, in the midst of a very competitive market. Especially since the use of borrowing is down among the French, following the economic crises of 2008 and 2011: 25% of households are currently taking out a loan, compared to more than 50% in 2008. Between Cream Bank which offers a rate of 1.10 % for a loan of $ 200,000 over 15 years, Flagline Direct Credit which displays an APR of 1.59% for a loan of $ 200,000 over 10 years, Lite Lending Credit which offers an APR to 1.88% for 150,000 $ over 15 years,… the offer is overwhelming.
The French like to be interested above all in the financial aspect, but it is essential to take into account the advantages that frame each offer. Options, promotions, quality of the interface, care given to customer relations, availability of reception agents and bank contacts,… each offer must be studied through a prism: that of the main concerns of a potential client. The simplest is sometimes to turn to an efficient comparator, which has the advantage of synthesizing all the information available in one place.