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“We are seeing more and more customers coming to us disappointed after talking to bank advisors,” says Adrian Wenger (49), specialist in mortgages at VZ Vermögenszentrum.
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Today, bank advisors are often well-trained salespeople. Expertise plays less and less of a role. Finally, a mortgage can also be taken out on the Internet.
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From his point of view, there is another problem in addition to the standardization of the product for the mass market: Today, mortgages are sold by providers who also arrange insurance and a moving company.
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In this case, does the mortgage provider care whether the homebuyer will make a good decision in the longer term? Or does he just want to sell his additional services?
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The retired couple want to sell their single-family home, instead they are toying with a single-storey apartment. He goes to his house bank for advice. “We had a lot of questions,” says Anton M. * to Blick. The couple do not want to read their name or that of their bank in the newspaper.
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At a meeting they wanted to clarify whether it was the right time to sell the family home. And whether they could achieve a good return on a new property. But the bank clerk has no answers to their questions. He uses a standard questionnaire to clarify your financial situation and, at the end of the conversation, gives you an offer for a mortgage. The retirees are confused and not one step further.
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Bad experiences pile up
The couple is not an isolated case, and more and more other mortgage borrowers are currently having bad experiences. “We are seeing more and more customers coming to us disappointed after talking to bank advisors,” says Adrian Wenger (49), specialist in mortgages at VZ Vermögenszentrum.
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A customer from Wil SG also wanted to clarify questions about the estate with a new mortgage because she had received land as an advance withdrawal. “But the advisor simply handed me an offer,” said the customer.
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Wenger from VZ continues: “One of our customers came to us with a huge construction project worth several million francs.” He wanted an assessment of the project with the most important key figures such as market rents in this region.
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Salespeople instead of financial specialists
The advice at his house bank came to nothing. The bank advisor explained to the customer that the construction project could not be financed. Hair-raising: At the end of the meeting, he still handed the customer an offer for a mortgage. «The customer no longer understood the world. Was the project financially viable or not? ”Says Wenger.
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Today, bank advisors are often well-trained salespeople. “Expertise is playing less and less of a role,” the real estate expert knows. Finally, a mortgage can also be taken out on the Internet. It is a standardized product with which more and more providers deserve a golden nose want.
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Mortgage for the mainstream
Tablets are also being used more and more frequently for personal discussions with bank advisors. “It works wonderfully with a run-of-the-mill mortgage,” says Wenger. But as soon as the customer’s needs deviate from the standard solution, such automated processes are no longer helpful.
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“An increasing number of customers come to us who have received insufficient advice from the bank,” says Ruedi Tanner (56), President of the Swiss Chamber of Brokers (SMK). From his point of view, there is another problem in addition to the standardization of the product for the mass market: Today, mortgages are sold by providers who also arrange insurance and a moving company.
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Question carefree packages
“Large financial institutions are building entire ecosystems around the property purchase – I find that tricky,” says Tanner. “One wonders how independent such a carefree package can still be.” In this case, does the mortgage provider care whether the homebuyer will make a good decision in the longer term? Or does he just want to sell his additional services?
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Wenger from VZ Vermögenszentrum advises mortgage borrowers: “Basically, you should always ask yourself who wants to sell you the product.” There are some test questions that, according to Wenger, immediately reveal who is sitting across from you: a salesperson or a financial specialist.
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* Name known to the editor
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This is how you expose bad financial advisersNot every customer needs the advice of a financial professional to get a mortgage. If you know something about mortgages yourself and are looking for a standard solution, it will be enough to compare the products of different providers. For residential or construction projects that require a tailor-made solution, however, a consultation with a specialist is required.
How well a consultant knows about his financial product can be quickly clarified with a few questions. “Check it out if you are offered a standard solution,” says Adrian Wenger (49), mortgage specialist at VZ Vermögenszentrum. For example, ask: What is the portability like when I retire? Or: What happens if I have to sell the home before the end of the contract? “Good consultants can also answer questions that cannot be answered on their tablet,” says Wenger. “Evasive answers are a sign of a lack of competence.” (dvo)
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