Avanza launches mortgage loan at 1.99 % interest up to 50 % of the property’s value
The new mortgage loan is an offering within Avanza Private Banking, for customers with more than SEK 3 million in savings. The loan is offered on the basis of a 3 month interest rate linked to the repo rate plus 0.99 percentage points. Loan amounts are granted up to 50 percent of the value of the property and between SEK 1 million and a maximum of SEK 10 million per borrower. The mortgage will be launched tomorrow, on November 14th. The interest rate refers to the effective interest rate as of November 14th, 2013.
”Our new mortgage loan is targeted to customers who do not need to borrow large amounts. By focusing on this smaller group, we can deliver a better, less expensive and more flexible mortgage solution. Hopefully our loan could be the first step towards opening the rigid mortgage market to new ideas and lower prices”, states Martin Tivéus, Managing Director at Avanza Bank.
”The ambition with our new mortgage is to create additional value for an important customer segment, while at the same time using our excess liquidity more effectively. We have a maximum lending capacity of SEK 1.5 billion so, first in, first served”, continues Tivéus.
The customer can, at any point in time, deposit and withdraw funds, based on the granted loan amount, without a new application or credit assessment. In this manner, the customers can decrease the size of their mortgage when they have excess funds, instead of just depositing them in a normal savings account for which the deposit interest rate is lower than the interest rate on their mortgage.
For further information please contact:
Martin Tivéus, Managing Director
+46 70 861 80 04
martin.tiveus@avanzabank.se
About Avanza Bank:
Avanza Bank is an Internet bank founded in 1999. The Parent Company, Avanza Bank Holding AB (publ), is listed on the Stockholm Stock Exchange. Avanza Bank’s vision is that as a customer you will have more money in your pocket than if you banked with other banks or institutions. The services include, amongst other things, saving in shares, funds, savings accounts and a strong pension offering. Avanza Bank has more than 300,000 customers and more than SEK 100 billion in savings capital. This is equivalent to approximately 2 percent of the Swedish savings market. Avanza Bank is the largest in terms of the number of transactions of Swedish banks on the Stockholm Stock Exchange. During the last three years Avanza Bank has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: www.avanzabank.se
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