EANS-News: Hypoport AG
Approx. EUR100 million brokered on EUROPACE every day
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information Berlin, 12 October 2011 (euro adhoc) - The volume of transactions generated on the Europace platform in the third quarter of 2011 topped the EUR6 billion mark for the first time. The improvement in market conditions and the many years of capital investment in this platform generated aggregate growth of roughly 38 per cent compared with the corresponding period of 2010. This transaction volume of EUR6.17 billion means that the 160 or so partners that use the Europace marketplace increased the total volume of new loans brokered by 38 per cent compared with the third quarter of 2010 (Q3 2010: EUR4.48 billion). The sharp upturn in the market after the summer months also generated growth of 33 per cent compared with the previous quarter (Q2 2011: EUR4.64 billion). Uncertainty in financial markets boosts real estate and independent advisers Growth was fuelled by all three product segments. The volume of mortgage finance transactions, which is traditionally the strongest driver of growth, advanced by 27 per cent year on year to EUR4.98 billion (Q3 2010: EUR3.91 billion). "The turmoil in financial markets and the ongoing political wrangling are unsettling consumers", claimed Thilo Wiegand, the Hypoport AG Management Board member responsible for Europace, adding: "This situation, coupled with the low level of interest rates, has triggered a flight to tangible assets - primarily real estate." In this environment, products such as building finance had increasingly been used as a form of long-term funding, explained Wiegand, and Hypoport had therefore sought to sharpen its focus on this product. This approach had enabled the Company to expand its volume of building finance transactions by 40 per cent compared with the previous quarter to EUR912 million (Q2 2011: EUR650 million). This translated into growth of 192 per cent compared with the corresponding quarter of 2010 (Q3 2010: EUR312 million). Consumers proved to be slightly more reluctant to take out personal loans: the volume of transactions generated in this product segment grew by 8.29 per cent year on year to EUR287 million (Q3 2010: EUR265 million). "The total daily volume of new loans brokered via the Europace marketplace amounts to some EUR100 million", summarised Wiegand. He explained that the main reason for this encouraging level of growth - in addition to the aforementioned factors - was the renewed interest in independent advice. "Many partners on Europace are independent intermediaries that can provide their clients with the best offerings in the market because they have access to a wide range of products", concluded Wiegand. He stressed that independent brokers therefore made options available that were becoming increasingly important - especially at a time of turbulent and opaque market conditions. Further inquiry note: Michaela Reimann Group Communications Manager Telefon: +49 (0) 30 42086 1936 E-Mail: michaela.reimann@hypoport.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: Hypoport AG Klosterstraße 71 D-10179 Berlin phone: +49(0)30 42086-0 FAX: +49(0)30 42086-1999 mail: ir@hypoport.de WWW: http://www.hypoport.de sector: Financial & Business Services ISIN: DE0005493365 indexes: CDAX, Prime All Share stockmarkets: regulated dealing/prime standard: Frankfurt language: English
Original-Content von: Hypoport AG, übermittelt durch news aktuell