The Asturian bank will offer all kinds of real estate services to those who take out a digital mortgage.
Liberbank has begun to incorporate specialized suppliers to the real estate services technology platform it created a month ago.
The aim is that those who take out a digital mortgage with the bank will find there associated products at competitive prices, such as home insurance, internet connection or can contract the move to their new home.
The first agreement signed was with Naturgy. Under this alliance, Liberbank customers who take out a mortgage will be able to benefit from “attractive prices” for a year on all its products: electricity, gas, self-consumption, charging points for electric vehicles, as well as three months free maintenance and repair services.
“This agreement is a very important step forward in the strategy of open banking, of alliance with leaders in various sectors to improve customer service,” explains Joaquín Sevilla, general manager of Digital Transformation at Liberbank.
In terms of insurance, Liberbank’s platform is going to offer home and also life policies from Caser, the bancassurance partner of the Asturian bank.
In the coming months, the bank will seek commercial agreements with other providers, such as telecommunications operators or basic supply services, according to the bank.
These products will be accessible to those who take out a Liberbank-branded digital mortgage, either directly or through financial intermediaries such as Rastreator.
When Unicaja takes control of Liberbank, as agreed in December, the bank from Malaga will become the owner of this platform.
Liberbank has just joined the small list of Spanish banks that allow the entire mortgage contracting procedure to be carried out digitally up to the signing before a notary.
The customer can stop and start the process as many times as he/she wishes and will be accompanied by a personal manager at all times.
The platform allows simulations to be carried out with different price bonuses depending on the subscription of other Liberbank products and to visualize how they reduce the monthly payment of the loan.
The bank captures around 10%-15% of all its mortgages through the online channel.
In recent months, Liberbank has improved its internal processes to shorten as much as possible the time it takes to contract a mortgage from the moment an application is initiated.
The Asturian bank has relieved the branches of much of the work of verifying the documentation associated with these processes and this has enabled it to cut the average contracting period to 18 days. According to Liberbank, the average duration is around 28 days in the sector as a whole.
The bank maintains that this has been key to improving its good business figures.
In the first quarter of 2021, new home purchase loan production totaled €660 million, up 29% year-on-year.
Its market share rises to 6.7%, three times its share by balance sheet size.
Its 30-year fixed-rate digital mortgage charges 3.65% APR if the customer deposits a salary of more than 2,000 euros and with all the bonuses allowed: two insurance policies and contributions to investment funds equivalent to 10% of the financing requested.