From today customers of ABN AMRO in the Netherlands can take out a mortgage online.
The internet plays an important role in the preparations for buying a home. A survey shows that over 70% of home buyers use the internet to obtain information before taking out a mortgage.
Hans Brinkhuis, director of ABN AMRO Mortgages, says, "We are responding to the needs of customers who wish to take out a mortgage from the comfort of their own home. This is why we are expanding our mortgage origination options. The online mortgage is in keeping with our multi-channel strategy of enabling customers to get advice from the bank and arrange their financial affairs 24 hours a day, 7 days a week."
Through the bank's website a customer can apply for an interest-only or investment-based mortgage. The customer receives a reply in his e-mail box within 15 minutes and, by clicking on the link, can open the quotation. The quotation is also sent by ordinary mail to the customer’s home address for signature. Each application is assessed against the usual mortgage criteria. Customers pay no arrangement fee and the interest rates for online mortgages are favourable owing to the self-service nature of the product.