Nordea Bank Lietuva opens first housing loan consultation centre

Nordea Bank Lietuva opens Lithuania's first specialised housing loan division in Banginis shopping plaza in Vilnius.

"The country's appetite for housing loans is still on the high induced by changing attitudes towards borrowing. The consumer should realise that a loan is not something unusual. A Nordea housing loan is as common as shopping in a supermarket; therefore we desire to reduce the path towards obtaining a loan and to simplify the procedures, to let alone the lending terms. Nordea Bank Lietuva has always been known as a bank offering virtually the best terms on the market," says Raimondas Rapkevičius, Nordea Bank Lietuva Retail Banking Manager, commenting on the opening of the new division.

The idea of a loan as a commodity is rapidly spreading worldwide, with similar divisions being opened in neighbouring countries. Here the client can find out about the lending terms, fill out an application form and receive an answer from the bank providing details on granting the loan.

In addition, the new division will issue new payment and credit cards and provide necessary information. In other words, the bank's new division will provide all services except cash transactions.

According to the management of Nordea Bank Lietuva, this is one more step towards satisfying customer needs. Reaching out to potential clients, Nordea destroys the stereotype of banks being highly arrogant and hardly accessible institutions. We want people to view us as their advisors or managers and guardians of their finances. A specialised division will enable us to remove all barriers between the client and the bank through open human communication," Rapkevičius says.

He adds that they intend to invite representatives of the most prestigious real estate agencies to provide people interested in housing loans with specific and detailed information about flats or houses that are for sale or simply to advise them on housing options.

This innovation on the banking market was launched in Banginis shopping plaza, which opened at the end of last year and includes Senukai home improvement centre along with a broad assortment of specialised shops selling finishing materials and household appliances.

Should this business model pay off, plans are to open similar divisions in other cities as well.