Archive May 2019

Online banking at Good Bank

Online banking at Good Bank has not gone smoothly because the past few years have been turbulent years for companies and institutions in the financial sector. Banks have experienced this personally and have often been the subject of discussion and discussion. Good Bank is a bank that has had a hard time. But Good Bank is a bank that has shown resilience and perhaps has come back stronger than it ever was. The bank has taken a step forward and has become a modern bank that puts the customer’s interests first.

Online is the future

Cash

As is the case with so many other things, online banking is also the future. Online banking at Good Bank is therefore well arranged and arranged. Customers can easily log in via a laptop or computer using a so-called e.dentifier. If you do not have this, it is also possible to gain access to your banking through a login code. You also need this login code if you want to manage your banking via the Good Bank app that you can download for your mobile phone or tablet.

Online banking with Good Bank

Online banking with Good Bank

Online banking at Good Bank is not only limited to computer banking. The big advantage of banking via mobile phone is that you can actually do this anytime and anywhere. After all, the only thing you need is a connection to the internet. The use of the mobile banking app is definitely recommended when you go on vacation. On vacation you do not always have access to a PC and then the app offers a solution.

 

What can you arrange via online banking at Good Bank?

What can you arrange via online banking at Good Bank?

Basically, online banking was primarily meant for checking your account balance and being able to make transfers. It is clear that these are still the most used functions these days. But nowadays, much more is possible if you use online banking at Good Bank. You can arrange the following for yourself:
* Re-application of your debit card or pin code (also from credit card)
* Have an automatically collected amount reversed that you believe the debit is not justified.
* Manage periodic payments
* Manage and take out insurance
* Adjust the standard limit of your bank card for payment or cash machine (temporary increases)
* Opening payment or savings accounts

 

Not completely

Money

This is a list that is not complete. Hereby you have to know that at this moment a number of things can be arranged online via the PC, but not yet via the app. People are working hard to make as many services as possible available via the app. This is therefore at most a matter of time. You see that online banking at Good Bank offers you a large number of benefits. It is up to you to determine whether this online banking actually suits you.

 

Have the mortgage loans changed since 2008?

How big is a development in our lending habits?

In recent years, we have heard a lot about interest rate developments, and what it means – but how much has it really changed ‘ lending habits? The total amount of the F5 loan has almost tripled in the last 10 years, whereas the fixed-rate loan is heading in the opposite direction. F1 borrowers even get money back , as their interest rates have gone down.

Here at Wealthy Loan we have taken a look at the development of the mortgage loan from 2008 to 2018. But first we look at the individual loan types. As you may already know, when you buy a home, you can borrow up to 80% of the value of the mortgage. This means you may need to fund the rest of your home with a home loan.

The mortgage loan can be taken either as a fixed-rate loan or a variable-rate loan, also called a flexible loan (F-loan). Both types of mortgages are interesting to investigate as our lending habits have changed significantly over the last ten years.

With Wealthy Loan you can compare the prices of loans, so you can get the best collection loan, car loan or consumer loan. All you have to do is fill out one application and you will receive up to several offers – totally free and no obligation!

Mortgage loan development from 2008 to 2018

money coins

The are flowing to the mortgage banks and we are borrowing money like never before. In 2018, we have borrowed DKK 2,700 billion. DKK – this is a total of DKK 600 billion. more than we did in 2008 . But the development has not been monotonous. Flexible loans only become more popular as time goes on.

Diagram of Wealthy Loan

Since 2008, the loans have changed from the fact that almost half of our money was as fixed-rate loans. Now it is almost only a third. Although we still lend almost as much money in fixed-rate loans, the percentage of total lending has fallen.

The need for a variable rate mortgage has increased. We have been particularly pleased with F2 to F5 loans compared to previous ones. These loans have increased in cash by 276% since 2008 , which means that just over a quarter of our loans are now F2 to F5 loans.

It has meant that the F1 loans have fallen in percentage terms instead. If we take a look at the amounts, we see that more money is still being lent out. Lending increased by 7%. That doesn’t sound like much, but in reality it means an increase of $ 66 billion. since 2008 .

The reason for this significant change in our lending habits can be found, among other things, in interest rate developments. Since 2008, we have seen a decline in all loan rates. Even the bond yield for a fixed-rate loan has fallen and still does. As interest rates have fallen to the lowest level ever , we have started to borrow more money.

The interest rate trend has shown that in Denmark we are moving more into low interest rates than a safe and higher interest rate.

The interest rate trend has shown that in Denmark we are moving more into low interest rates than a safe and higher interest rate.

The higher interest rate on a fixed-rate loan does not attract us as much as before. The reason is that if interest rates fall, or are as low as now, a flexible loan will almost always be the cheapest. Other costs and fees can always raise the price, but the repayment will be cheaper in a flexible loan.

The F1 loan has had the greatest interest rate trend since 2008 . Over the years, interest rates have fallen below 0%. The reason for the increase in F1 loans must therefore be found in the fall in interest rates. In fact, if you choose an F1 loan now, you will get money back . If you choose an F1 loan, on the other hand, you are dependent on renegotiating the loan again next year, and interest rates may have increased here.

Interest rates have had the greatest impact on F2 to F5 loans. We have only selected the F5 rate here, but the F2 to F4 rates are almost the same. The F5 interest rate has fallen so significantly that the today take this loan if they know that their income will continue unchanged for the next five years. It is therefore reasonably attractive to be able to renegotiate if the income should have changed, even if the interest rate should have done so.

On certain variable-rate loans, you can add interest rate ceilings should interest rates rise.

On certain variable-rate loans, you can add interest rate ceilings should interest rates rise.

This means that if interest rates fall, the interest rate ceiling does not matter and can therefore be more of an expense than a hedge. The addition of the interest rate ceiling to the flexible loans has therefore seen a decrease due to the fall in interest rates:

  • 73% reduction in variable rate loans with interest ceiling from 2008 to 2018. From DKK 319bn in 2008 to DKK 86 billion DKK in 2018
  • 99.9% decline in variable-rate loans with affected interest rate ceiling from 2008 to 2018. From DKK 214bn in 2008 to DKK 0.16 billion DKK in 2018

In order to illustrate the development of the mortgage and interest rates, all values ​​have been selected from the sources below. Based on this, we have calculated the total percentage increase as mentioned earlier.

criterion Description Source
Mortgage loan development Denmark’s total lending in each loan type is collected through Finans Danmark, which publishes lending statistics every quarter. Find Loan
Bond yields Through Finans Danmark, the historical bond rate for fixed-rate loans has been collected. The interest rate history dates back to 1997 at Finans Danmark. Find Loan
Flex-loan Interest Realkredit Danmark has a history of the cash loan interest rate for Flexlån back to 1997. The interest rate on which this study is based is paid in DKK. Drestigartos Loan

 

If you find it difficult to find a head and tail in the mortgage world, you can read more about home loans here at Wealthy Loan. We also offer free and non-binding offers from our own partners. If you send us your needs, we can adapt a home loan to exactly your current situation.