8.6 C
New York
Friday, June 9, 2023
Home Challanger banks ASR expands cooperation with bunq after 400% growth of mortgage portfolio

ASR expands cooperation with bunq after 400% growth of mortgage portfolio

ASR Asset Management provides bunq with a mortgage portfolio worth 300 million euros. 

Read also: Exclusive: Interview with Scott Gordon – Founder & CEO at Kard

This portfolio consists of 65 percent NHG mortgages. The remaining 35 percent has no NHG coverage.

NHG is a scheme, which guarantees the mortgage on properties worth up to €310,000 against events such as death, divorce, or unemployment.

Dutch challenger bunq is offering mortgages since July as a part of its new partnership with a third party broker.

This option enables bunq’s users to remove boundaries associated with obtaining a mortgage, thus encouraging people to become homeowners. The challenger bank is diverting around €100m of its user’s deposits into a new real estate fund.

“Our users indicated that they wanted to help others obtain a home. We listened to this and started investing in mortgages,” Bunq CEO Ali Niknam explained the collaboration. 

ASR and Bunq already worked together in the form of bond portfolio management.

Bunq also claims to have experienced the fastest growth ever in the first half of this year. The bank saw user balances increase by 50 percent to 633 million euros in the measurement period.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Sprinque Secures $21 Million Debt Facility to Fuel Expansion Across Europe

Let's delve deeper into this exciting news and explore how Sprinque plans to leverage this debt facility to solidify its presence in the European market.

The Rapid Growth of India’s Neobanking Market: A Digital Revolution

This article explores the factors driving this growth and the future prospects of the neobanking sector in India.

FinTech Giant Stripe Sets Its Sights on the Credit Game

In a surprising move, Stripe, the leading FinTech company known for its robust payment processing platform, has announced its entry into the credit industry.

Responsible Lending in Today’s Economy: A Guide to Sustainable Financial Practices

In this blog post, we will delve into what responsible lending truly means in today's economy and explore its significance in promoting long-term economic stability.