To buy the house of your dreams or to transform your apartment into a cozy nest, a mortgage or mortgage is often necessary.
If in the past it was necessary to push the door of a bank, today this is no longer the case thanks to online banking.
If doing everything without leaving home seems tempting enough ( 2 out of 5 Belgians say they are ready to take the plunge), is it really more advantageous to go through an online bank?
What are the advantages of taking out a mortgage loan online, and are there any disadvantages?
This is what we will explain to you!
Online banking and mortgage loans: the advantages
Simplicity above all
This is the first advantage and the one that makes many French people more and more tempted by online mortgage loans.
It is certain that the simplicity of an online application is attractive.
In a few clicks, indicating some information, you have all the information in front of you.
You don’t have to be an IT expert to apply for a mortgage online.
But above all, you do not have to travel, to make an appointment with an advisor with all that this implies.
As for the supporting documents, you just need to scan them but you can also send them by mail.
A quick answer
Online, you can simulate your mortgage credit.
You will get an answer in principle within seconds.
This allows you to see if you meet the conditions for obtaining such a credit or not and therefore not to waste your time if this is not the case.
More advantageous rates?
It is on this point that online banks are putting themselves forward over traditional banks.
The rates are indeed most often more advantageous but not only. Management fees, administration fees or even insurance costs are much more advantageous than in a so-called traditional bank.
An easier loan to obtain?
Most often yes, but it must be recognized that this is not the case for all online banks.
Some are indeed more demanding than others, particularly in terms of income.
But for the vast majority of online banks, it is easier to get a mortgage there.
Customer service at your service
Just because you want to get a mortgage loan online does not mean that you will be on your own, quite the contrary.
Advisors will be there to guide you and answer your questions throughout your process.
Online banking and mortgage credit: the downsides
No possibilities to negotiate
When you go to a traditional agency to meet with an advisor, you have the opportunity to negotiate the terms of your mortgage loan with him.
With an online bank, you can’t negotiate. The rate, for example, is firm and non-negotiable.
A lack of advice
Taking out such a loan represents an important commitment and often for a long period.
Even though appointments with advisors are long and tedious, they allow you to ask whatever questions you can think of.
This is not the case with an online banking.
Even if more and more of them have professional and responsive customer service and are available at longer time slots.
Choosing the right online bank
They are more and more numerous and choosing between a particular online bank is not easy and can take time.
In order not to lose any, the best is to consult a comparison of banks online.
So is choosing an online bank worthwhile for a mortgage?
Yes, if you do not want to have an advisor dedicated to your file, if you do not want to spend hours meeting in a traditional bank and of course, if you want to obtain a loan at a preferential rate.
Otherwise, if having an advisor in front of you is important and essential, online banking may not be the best solution for you.