How did the idea for Engel & Völkers Finance originate?
In 2014, I was approached by Engel & Völkers licence partners from Berlin because they noticed that their clients had to wait a long time to get an appointment with their bank to obtain home financing. We realised that we can offer our clients support in this area as well. In order to provide the best possible service to our clients, where everything comes from a single source, we therefore decided to establish a home loan division.
What did it involve and what challenges did you face?
All in all, the challenges were not that big. This is also due to my many years of experience in the financing sector. After all, I’ve been working in this sector for 18 years. So I had the best network I could wish for right from the start. The biggest challenge was most certainly finding good mortgage consultants. And because we are looking to expand, we are always on the lookout for competent employees.
What service does Engel & Völkers Finance offer its clients?
We want to help clients obtain the best financing offer. We can find the ideal offer for our clients from a selection of over 400 banks. We then negotiate the conditions, interest rates and payment terms in consultation with the client.
How exactly does home loan financing work?
First of all, we contact the banks to discuss the client’s requirements, concerns and goals with regard to the financing. Then we negotiate the terms and conditions for the client associated with this type of loan. This includes interest, unscheduled repayments and the loan term. We negotiate this with the bank. Then we present the best offers to the client. The client then decides which bank to use. Once the loan agreement is ready, we present it to the client and provide a comprehensible and detailed explanation of the contractual terms.
Another advantage for the client is that we can obtain offers without influencing his credit rating. Normally, obtaining credit offers is associated with a worsening of the client’s credit rating. With us, this is not the case.
In a nutshell: we are there for our client right from the start – from the moment he makes the decision to buy a particular property to the disbursement. Of course, we also provide follow-up support on request.
Is this service also available for properties not marketed by Engel & Völkers?
Of course! Even if the client purchases a property from the portfolio of another real estate company, we can still help him with the financing.
What successes have you achieved since Engel & Völkers Finance was established in 2014?
Until last year, Engel & Völkers Finance consisted of only three employees. But even with this small team, we were able to provide loans totalling 100 million euros. This is an enormous sum considering our size.
The most recent growth is that of our team: we now have ten mortgage consultants working for Engel & Völkers Finance. One of our main objectives in 2019 is to build up a team of 40 consultants so that we are able to offer our service to even more clients.
Why should clients choose Engel & Völkers Finance?
In my opinion, the most important reason is that clients can take advantage of an all-round service from a single provider. We handle everything for our clients. On request, we also work hand in hand with the tax consultant of the client, so that the client does not need to worry about obtaining the necessary credit reports.
Ultimately, we handle everything to do with the financing, allowing the client to fully focus on the property or prepare the move.