By Virginia Kimbouropoulou
The acquisition by the Bank of Greece of the first license for mediation in the issuance of a mortgage was announced today (Tuesday 31/5) at an event by the management of IMS.
IMS FC (Individual Mortgage Solutions) is essentially a mortgage broker. That is, he is a mortgage consultant for individuals who wish to obtain a mortgage loan from a regular commercial bank. As a company, IMS emphasizes that it offers immediate and free assessment of a customer’s creditworthiness, while providing complete information on every legal obligation and technical detail to the borrower and advice on issues that arise during the process until the signing of the loan agreement. At the same time, it shapes the customer’s profile to its advantage, offering a “banking education” framework.
The company currently manages more than 3,000 loans, with an approval rate of over 90%. Last year, the company handled 9.4% of mortgage disbursements made by four systemic banks. Forecasts for 2022 state that mortgage disbursements will reach 120 million euros, while within the next five years, IMS aims to increase its market share to 15%. In the first four months of 2021, mortgage disbursements reached a total of 184 million euros. In the corresponding period of 2022, they increased to 348 million, according to official data of the four systemic banks. That is, they almost doubled. IMS brokered € 34 million of that. The many years of experience and specialization of IMS in the field of mortgage offers to its clientele a “one-stop-shop” service.
IMS, after its licensing by the Bank of Greece, is the first and only so far credit intermediary in the country and the largest partner of Greek banks in the mediation for the issuance of a mortgage loan, without any direct or indirect financial burden for the borrower. .
During the information event, Mr. Kyriakos Kampouris, Partner at IMS, pointed out: “We simplify the time-consuming and complex bureaucratic process of issuing a mortgage, presenting and analyzing impartially all available options. So, our customers can be sure that they choose “The most advantageous financing solution. Our main goal is to upgrade the way loans are disbursed, minimizing the physical presence in bank branches.”
The event also mentioned the profile of the average customer of the company, which concerns, as Mr. Kambouris stated, “middle to high incomes” and an age group of about 35-45 years old. On average, IMS targets annual revenues of around 25-30 thousand euros. The company’s fee comes purely from the credit institutions after the approval of the loan, and concerns 1-2% of the disbursement amount.
As for the spread of this service in the country, it is a fact that it is not particularly known what exactly the role of mediation in a mortgage is, in contrast to countries such as the USA, whose mortgages have been made at a rate of 80% by this way. Also, in Greece some additional issues may arise. For example, for the evaluation of a loan, one of the criteria concerns the property that is mortgaged, which, in the case of Greece, can cause obstacles either due to age or due to unclear property titles. So an additional goal of the company is to make the service further known to the Greek public.
Source: Capital
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