LLB allowing online extensions to fixed-rate mortgages

From now on, LLB mortgage customers will also be able to extend their existing fixed-rate mortgages online, the bank writes in a press release. This is dependent on the customer being able to use the LLB’s online banking service. The procedure can be completed in a matter of click, LLB states. “For us, the option to arrange extensions online represents an optimal addition to our existing product offering and can further strengthen our position in the Liechtenstein mortgage market”, comments Manfred Pfammatter, Head of Corporate Clients & Mortgages at LLB, in the press release. LLB is also the first bank in Liechtenstein to offer a service of this kind, the press release explains further. LLB customers interested in extending their fixed-rate mortgage will receive information relating to potential conditions and mortgage terms via LLB’s e-banking service, LLB writes further in the press release. The bank then offers the customer an interest rate equivalent to the selected conditions and mortgage term, with the mortgage agreement subsequently concluded directly online. According to the press release, the bank continues to offer initial mortgage advice mostly in direct contact with the customer. However, in the view of Edi Zorc, Head of Retail and Corporate Banking Liechtenstein, the new online service seeks to “fulfil customer requirements for rapid, straightforward solutions”. As part of its digitalization strategy, the LLB also intends to further expand its online banking services in future.