Borrowing money, costs money

Commission does not come at the expense of taking out a responsible loan

November 8, 2016

SP MP Merkies had asked Minister of Finance Dijsselbloem whether the current commission system for consumer credit does not provide unnecessary long-term loans and the highest possible loans. An intermediary receives commission on the personal loan or revolving credit taken out. Dijsselbloem replied that the commission system does not ensure that intermediaries take out irresponsible loans to enrich themselves with higher commissions.

The intermediary is involved in the loan for the entire term

Merkies wondered whether the commission to be received at an intermediary would act as a "perverse incentive"; the higher the loan or the longer the term, the higher the commission. This does not seem to be the case, Dijsselbloem writes in his answer. The commission bid states that the intermediary's remuneration is paid over the life of the loan or credit. In this way, the intermediary remains involved throughout the term of the loan or credit and because the full commission is not paid out after the loan has been taken out.

Have you not arranged a suitable loan? Commission expires

It is therefore in the interest of the intermediary that the loan is a responsibly concluded loan. A consumer may approach an intermediary in case of questions or problems without having to pay any costs. If the intermediary does not help sufficiently, the consumer is always free to switch to another intermediary or intermediary and transfer the loan. The commission thus expires for the intermediary. The commission will also lapse if there is a payment arrears of two months or longer with the consumer. The intermediary therefore benefits from taking out a suitable loan for the consumer, because otherwise no commission will be received. The stimulus that Merkies was afraid of does not appear to play a role.

Taking out loans with responsible and reliable employs experienced credit specialists and qualified advisers . Because we realize that taking out a loan requires financial knowledge, we advise you extensively before you take out a loan. With us, the commission is included in the loan taken out, so we take out responsible and appropriate loans in your and our interest. Do you want more information or do you have questions? Please contact our advisors .

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