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ABN AMRO is today announcing the results of the investigation into why employees copied signatures in revised mortgage advice reports. Frans van der Horst, CEO of ABN AMRO Retail Banking, and Wies Wagenaar, Head of Conduct, who is in charge of the inquiry, discuss the results of the investigation.
The Dutch housing market continues to match and – according to the latest data – even outperform the optimistic expectations. Nevertheless, Group Economics at ABN AMRO does not see this as a reason to adjust its forecasts, according to the new Housing Market Monitor. The bank’s economists stand by their prediction of a 5 per cent increase in house prices and number of transactions for 2017.
The number of homes sold will reach record-breaking heights in 2016. ABN AMRO’s Group Economics department expects that the increase in sales this year will outperform the already ambitious predictions, reaching 20 percent rather than 15 percent. The bank’s economists also believe that house prices will rise by 5 percent in 2016, a more rapid increase than initially expected. During the first six months of 2016, they expected a price increase of 4 percent.
ABN AMRO clients who are deaf or have a serious hearing impairment can now receive ABN AMRO mortgage advice over the webcam, using sign language. There are no additional costs for this service. ABN AMRO is the first major Dutch bank to start providing this feature.
ABN AMRO now offers clients throughout the Netherlands the possibility of conducting mortgage consultations on Sundays via webcam. ABN AMRO is the first Ditch bank to be open for mortgage advice seven days a week.
On 30 June 2016 ABN AMRO started offering interest rate averaging via Internet Banking. Clients with an ABN AMRO mortgage can now easily see how interest rate averaging will affect them personally and, if they choose to do so, can immediately submit a request for interest rate averaging.
The number of houses sold in 2016 is expected to rise far beyond the bank’s earlier forecast. ABN AMRO’s Group Economics now foresees a 15 per cent increase in residential property sales compared with 2015, while in March the economists put this figure at 10 per cent. According to Group Economics, a further 5 per cent rise can be expected in 2017.
ABN AMRO’s Group Economics department expects the number of house sales to approach the record high of 2006 next year. The bank’s economists are predicting a 10% rise in the number of sales in 2016 and a 5% rise in 2017. At the end of 2015, the economists expected increases of 5% and 2.5% respectively.
ABN AMRO’s Group Economics department predicts that the numbers of homes sold during the coming years will climb more slowly than in 2015. For 2016, the bank’s economists predict a 5 per cent increase in sales, followed by a 2.5 per cent increase in 2017. According to their calculations, homes sales increased by 15 per cent in 2015.
ABN AMRO welcomes freelancers after just one year of self-employment.
Since recently, ABN AMRO customers can make additional mortgage repayments through internet banking, without having to visit a mortgage advisor.
Group Economics at ABN AMRO expects the number of house sales in 2015 to be much higher than was initially believed. Where in July a 10 percent increase in the number of transactions relative to last year was predicted, the economists are now predicting a 15 percent rise. Group Economics has not modified its forecast of 5 percent for 2016.
ABN AMRO Group Economics expects the number of house sales to rise by 10% in 2015. This is contrary to the forecast at the end of last year, when this number was expected to stabilise. The adjusted forecast has consequences for 2016. With the number of sales expected to grow this year, Group Economics is anticipating a 5% rise for 2016.
Woonmarktmonitor
ABN AMRO’s Economic Bureau is expecting to make an upward adjustment of housing market forecasts in mid-2015. While the bank’s economists who contribute to the new Housing Market Monitor are somewhat reserved at this point, they do believe house-sale volumes and house prices will rise more in 2015 than predicted at the end of 2014.
