Concluding financial products with parties that work according to the execution-only principle means that those parties mediate without advice. You as a customer have sufficient financial knowledge to take out the right loan or mortgage without the intervention of an adviser and associated advisory discussions. In the case of a loan, this has been a common practice for a long time. This is on the rise when taking out a mortgage. According to research from Nibud (the National Institute for Budget Information) this will grow because consumers believe that financial advisors are too expensive, but also because they mistrust them. Execution only is the way to bypass a financial advisor.
Arrange your own mortgage? Complex case
Mortgage advisers have recently expressed their concerns about this development in the news. They wonder whether a mortgage is not too complex a product to arrange through the execution-only method. They are of the opinion that a client mainly focuses on the interest rate of the mortgage and loses sight of the associated conditions. A mortgage adviser takes into account future changes in the customer’s personal and financial situation in his calculation. With only a low interest rate you do not catch this as a consumer.
Commission costs instead of consultancy costs
Not all banks offer the option to take out a mortgage for all types of mortgage without advice.
If they offer it, they may still charge commission fees. This amount is lower than the consultancy costs that you normally pay with a mortgage, but it is not free of charge. A credit broker who offers execution only for a personal loan or revolving credit does not charge these costs.
A wrong choice mortgage can cost a lot of money. It is not easy to transfer your mortgage without having to incur high costs depending on your mortgage type and provider. Transferring a loan is always free of charge. If you have made a wrong choice? You can convert your current loan to a new one without any problems.
Close without advice
Taking out a loan on the basis of execution only is another story. Loans and loans are less complex than a mortgage. Taking out a loan without the intervention of an adviser means that you will not receive advice and therefore will not pay advice costs. Any advice calls by phone or in the office are eliminated and the customer arranges everything online himself; the application process is short.
Borrow money online
With us you can apply for a loan online. From behind your computer you can arrange the loan of your choice at the time when it suits you. To support our digital working method, we have a number of tools and extensive information on our site so that you can orient yourself well in advance to take out a responsible loan yourself. All borrowing standards that we apply are determined by law and regulations.
After you have requested a quote, you will receive the offer from our partner banks digitally in one overview. You choose the best offer from this. We then arrange for the bank to pay the loan.
The greatest risk, death, can be insured with a term life insurance policy so that your loved ones do not have to take over your debt. Using our online application form you can calculate which premium you pay for this insurance.