Wüstenrot Bausparkasse, Fidelis and REMCI Finance cooperate

Wüstenrot Bausparkasse, Fidelis and REMCI Finance cooperate 150 150 Haggie Partners

Wüstenrot Bausparkasse AG strengthens its mortgage offering with B2B credit default insurance from Fidelis Insurance Ireland DAC.

At today’s prevailing real estate prices, many (young) buyers or builders hardly have the necessary equity to contribute another 20-30 percent of the total costs from their own funds – in addition to the purchase or ancillary building costs of approximately 8-15 percent. Moreover, from the point of view of the bank’s internal risk management, the discrepancy between the purchase price and the determined mortgage lending value is particularly pronounced in Germany. “A credit default insurance optimises both aspects and ultimately leads to a lower-risk product range,” says Simon Crone, Chief Underwriting Officer at Fidelis Insurance Ireland DAC.

The German mortgage market has been booming for several years, because owning a home is very popular among people. “We are very pleased to start the partnership cooperation with Fidelis Insurance and REMCI Finance and thus increase our sales power in mortgage financing,” comments Stephan Müller, Head of Sales of Wüstenrot Bausparkasse AG, on the cooperation, which is designed for the long term.

“Credit default insurance also expands the product range in mortgage financing and optimises the lenders’ earnings opportunities,” add Anke Lämmerzahl and Thomas Ehrhardt, managing directors of REMCI Finance GmbH, which is brokering the partnership and will manage it in the future. The company acts as a link between insurer and policyholder.

Ludwigsburg, June 24 2021.