A fast credit approval becomes ever more important with the fight for the own dwelling for buyers. Whereas waiting for this used to take several days or even weeks, customers should now be able to obtain a mortgage from the credit broker Dr. Small the decision on the financing of their dwelling now immediately can receive.
This "Fast Lane" for private customers was realized by Europace AG, together with two supraregional financing banks and the Dr. Klein Private Clients AG. Long processing times for loan applications are a problem for many buyers, because they repeatedly lead to a real estate purchase not being completed despite sufficient creditworthiness, because another applicant can present the seller with a financing commitment more quickly. This time pressure on those willing to buy is increasing not only in metropolitan regions, as the housing market has developed into a seller’s market in recent years.
Double time advantage for buyers
"In some cases, it simply takes too long for prospective buyers to find out whether their construction financing will materialize," also says Michael Neumann, CEO of Dr. Klein Private Clients Ltd. Together with its sister company Europace and two partner banks, Dr. Small therefore the ‘OneClick Sofortkreditentscheidung’ to the consumer. Prospective buyers reach their goal more quickly – because the property valuation and the credit check take place digitally and automatically. Real estate buyers have a double time advantage: For an immediate evaluation of the property, they first need only the expose of the apartment they want to finance. This means that they no longer lose valuable time in advance compiling all the documents such as land register excerpts or living space calculations. An online process also eliminates the need to wait days or weeks for the bank to check creditworthiness. This means that the loan decision can be made within a few hours.
Automation sets new standards
The move from mere digitization to consistent automation of processes sets new standards in the industry : Until now, prospective buyers used a "financing confirmation" from their bank to prove their solvency to the real estate seller. Even if this confirmation is available in some cases quickly: It is usually given only with reservations. Key data on the property, which are necessary for its valuation – and thus for the loan decision – are not taken into account. The instant loan decision with OneClick works completely differently: Here, the property valuation is included from the outset and, thanks to the use of intelligent technologies, is automated and extremely fast. In this way, potential buyers receive an immediate and binding loan decision in a form that has never been available before.
Personal consultation remains important
Dr. Klein is the first financial broker in Germany to offer its customers this innovative solution to give them a decisive advantage in the race for the coveted property. "The new technical possibilities inspire customers and agents alike, but expressly do not replace personal contact," emphasizes Michael Neumann. "Customers who need a very quick credit decision also attach great importance to the personal advice provided by our specialists. Finally, for most people, real estate financing is the largest investment of their lives and involves important issues."