Unicredit announces a new mortgage product that will be launched “pretty soon”. In a scenario of sharp decline in sales, Piazza Cordusio has studied a new product that aims to stimulate demand by giving greater flexibility especially in terms of long-term management.
“Demand is low. Sales have decreased by less than half in the last 12 months”, noted the CEO Federico Ghizzoni who studied the counter-moves to deal with the 50% drop in mortgage applications due to the crisis, noting that the bank has an interest in grow in this segment. “We have brought the managers of the branch networks to Milan – explained Ghizzoni – We have increased the annual objectives in terms of disbursement of mortgages. We want to achieve these goals and we find it difficult to do so. For this reason, we have given incentives for branches to be more attentive. Also, we are trying to come out with new and much more flexible products. Not only on rates but above all in terms of managing the loan over long periods”. According to the bank, there are no particular criticalities in Italy in terms of mortgage disputes: "Fortunately, Italians are honest mortgage payers".
