‘Can I afford this home?’ has always been a vital question to real estate buyers. The aim of the KBC Home Loan Simulation is therefore to answer this question almost instantly.
Firstly, buyers are asked to enter their personal data and other info on their planned loan. Any details the system already knows are shown. Next, the buyer gets an overview of his or her personal repayment capacity. As a result, the buyer now understands the available budget. This saves a great deal of time. It means that buyers can perform focused searches of matching properties only. Similarly, they will only negotiate with sellers of real estate that is right for them. They get fully customised details on the home loan itself, the charges and the required paperwork.
There are also a lot of benefits for the merchants who sell the real estate. They can build more expertise. This extra service also makes their platform more relevant for buyers as a one stop shop. And because all the info appears in one place, decisions are made more quickly. Buyers' budgets are more transparent. As a result, the buyers are more focused in their searches. Because they know their budget, they can make better offers.
Recent market research has shown that 25% of home buyers are not fully aware of their own repayment capacity. Time spent on unfeasible options is a major cause of disappointment to agents, sellers and buyers alike. The KBC Home Loan Simulation adds value to your platform. It does so in two ways: by giving buyers more insight into their finances and by offering specific info on available properties.
Websites, platforms, apps, (turnkey) project developers, architects, real estate agents and other providers can offer this extra service. It makes buyers instantly aware of their personal repayment capacity and optimises their time through digital support.
The API is integrated into a website, platform or software. Users can be private persons looking to buy real estate or an intermediary such as a real estate broker. This depends on the platform.
Firstly, the user selects a property on the partner's platform. The platform already knows the details of the property.
Secondly, the user enters certain details, such as marital status, income, kids, costs, the expected own assets and the term of the planned loan.
Then the user receives a customised response on the loan's feasibility that is based on the entered data. The pricing will depend on whether the buyer is also buying home insurance and loan balance insurance from KBC and his or her income is received in a KBC account. KBC will check the data and approve or reject the loan as soon as it receives the actual loan application.
The KBC Home Loan Simulation is free to all users. KBC partners can offer this service for a small monthly charge. Get in touch for more info.
In certain cases, the Belgian Financial Services and Markets Authority (FSMA) requires merchants to register as a credit intermediary. The credit intermediary qualification depends on whether the merchant wants to sell loans to complement its own products and services. It also depends on whether the credit provider is visible to the customer. To become a credit intermediary, the merchant has to meet certain requirements, such as a one-off training course and exam. Of course, KBC helps its partners to gain credit intermediary status. Merchants offering loans must also get professional liability insurance. This covers any merchant mistakes during the loan registration process. The KBC website has further information on professional liability insurance.
This KBC service calculates a home loan simulation and repayment capacity.
This KBC service enables merchants to offer financing for their customers' purchases. It allows customers to simulate their multi-purpose loan and calculate their repayment capacity.
KBC/CBC offers an easy, multi-purpose instalment loan that allows people to improve their home, buy a new car or go on a dream holiday without...
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