One in five consumers prefers to take out a mortgage 100% online

The younger generation is the most open to fully digital mortgages

Eindhoven, 29 February 2016 – Nearly one in five Dutch citizens would prefer to take out a mortgage completely online, without any intervention of an intermediary. This was one of the findings of the survey carried out by Hyarchis, specialist in content and online collaboration solutions. With the help of research agency Markteffect, Hyarchis asked more than 1100 Dutch consumers whether they found this an interesting option. The majority of those surveyed were wary of this new approach; 54% said that taking out a mortgage completely online did not appeal to them.

Male vs female, young vs old

The survey revealed a large number of significant differences. Consumers in the age group 18 to 34 years are more open to taking out a mortgage completely online (22%) than people aged 50 or older (14%), and more men are interested in this approach than women (24% and 11% respectively).

Serge Leclercq, Sales Director at Hyarchis, has this to say about the survey findings: “The figures show that young consumers—the group most likely to take out one or more mortgages—are those most open to a fully digital mortgage application process. These figures are a clear signal for mortgage lenders to take a good look at their own processes. Customers want to take centre stage in the services they receive. For the younger generation in particular, this means having influence over and insight into the mortgage process. Mortgage providers and intermediaries often have their front office well arranged. However, to cooperate online with customers at every step along the way, the mid and back-office processes must also become fully digital. This is the challenge of today.”

Report

You can learn more about this survey in the research report “Ready? Set. Go! Online samenwerken met klanten: Is de financiële markt futureproof?” [Ready. Set. Go! Collaborating online with customers: is the financial market future-proof?]. You can download the report here. A special mortgage appendix has also been published, which you can download separately here.

 

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