Dutch bunq is said to have become the first European challenger bank to offer mortgages, entering the mortgage market through a silent partnership.
The partnership will enable bunq users to become homeowners, removing boundaries traditionally associated with obtaining a mortgage.
bunq claims to be the first challenger bank to actively divert around €100m of its users deposits into a new real estate fund.
“To many people, owning a house is an important step in experiencing true freedom,” said Ali Niknam, CEO and founder of bunq. “We are proud to be a part of that great feeling!”
While bunq boasts about its new mortgages offering being the first of its kind, it is not the only challenger bank to have poked around with mortgages.
For instance, UK rival Revolut signed a deal with online mortgage broker Trussle back in 2017. The partnership would give Revolut customers direct access to Trussle’s mortgage broking service, which searches thousands of products from lenders to find the most suitable deal for a borrower.
Similarly, in July 2019, Mojo was said to be trialling a feature that would help Monzo customers remortgage more easily.
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