DSB bank faces billion euro claim: FD

The DSB bank is facing a multi-billion euro claim from home owners for extending mortgages which are far higher than the value of the home, the Financieele Dagblad reports on Tuesday.

The claim follows an investigation by tv current affairs show Nova which showed how DSB over-valued homes so that buyers could get extra large mortgages. The true value of the properties was tens of thousands of euros below the value of the mortgage, according to Nova.
Now a foundation for home owners, Stichting Hypotheekleed, says it has been contacted by over 600 people concerned about the size of their mortgages.
Director Pieter Lakerman claims there is an average mortgage gap of €75,000 and DSB is lending policy-holders nearly 150% of the value of their new home. The norm is 125%.
But DSB board member Hans van Goor said the complaint is ‘rubbish’. ‘Only one in 25,000 customers has a complaint,’ he told Nova.
The financial services authority AFM said in March that it is looking into various complaints about DSB services.

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