Fortis loses mortgage market share

Financial services group Fortis has lost considerable mortgage market share because of the ongoing price war, the Financieele Dagblad reports on Tuesday.

According to Bas Millenaar, spokesman for the Hypotheker mortgage brokers, Fortis had 8.7% of the mortgage market in 2007, compared with 11.2% in 2006. Rabobank and ING have managed to increase their market share, the paper states.
New entrants to the market such as Bank of Scotland (2.7%) GMAC (2.8%) and Argenta (2.1%) have only made marginal inroads. GMAC has stopped selling mortgages in the Netherlands because of the credit crisis.

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