New player enters mortgage market

The NIBC bank said on Tuesday it is entering the Dutch mortgage market with immediate effect, Nos television reports.

The market is currently dominated by the big three banks: Rabobank, ABN Amro and ING.

‘We have taken note of the demand for new players in the mortgage market,’ a spokesman told the Nos. ‘More competition is never a bad thing.’

Interest rates

For the time being the bank will only sell annuity mortgages, with a slightly lower interest rate than that offered by the three big banks.

The aim is to build the business to 5% of the market over a number of years.

NIBC, founded in 1945 to help finance post-war reconstruction, began offering savings accounts in 2008 and has €8.2bn in holdings.


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