Jean Des Esseintes bvba endorses the code of conduct of the Professional Association Van het Krediet (BVK)
We would like you to have a carefree feeling about our services to you. Jean Des Esseintes bvba therefore endorses the code of conduct as drawn up by the Professional Association Van het Krediet (BVK) with the aim of:
– strive for balance in the allocation of loans to individuals
– make every effort to prevent over-lending to the consumer.
10 principles for responsible loans and loans
Principle 1: Clarity, clarity and transparency
- Mortgage brokers ensures that the information about products is clear, not misleading and user-friendly from the point of view of the borrower.
- Advertising messages are unambiguous.
- The consumer has a clear point of contact and knows what steps to take in the event of complaints.
Principle 2: Correct Pricing
- Mortgage brokers gives consumers clarity about the costs of the products (interest rates and costs).
- In the cases where this is applicable, mortgage brokers will communicate the standard APR (Annual Cost Percentage) or the OJR (Corresponding Annual Interest Rate), so that the consumer is able to compare the goods properly.
Principle 3: Service to the Customer
- Mortgage brokers provide the client with financial guidance by teaching him the principles of budget management and by warning him of the possible consequences if he should default on payments. We are the only broker in Belgium to give you an advice summary so that you can read things through again in plain language. We also commit that we have offered the most appropriate solution and product for you.
- Mortgage broker helps our customers to find the solutions that best meet their needs.
- Mortgage Brokers informs borrowers about the dangers of excessive indebtedness, connected with consumer credit or mortgage credit, on the basis of clear rules of conduct (brochures and websites).
- Mortgage Brokers works with experienced and competent staff for credit sales, closing credit and managing payment arrears, and where necessary we provide appropriate staff training.
Principle 4: Confidentiality
- Client data is treated confidentially by Mortgage Brokers within the limits of the law and its obligations (eg: credit risk center and legal authorities).
- In accordance with data protection legislation, customers can exercise their right to access and, if necessary, improve the data related to themselves. They also have the right to object to the use of that data.
Principle 5: Customer satisfaction
- Mortgage Brokers gives consumers access to all information about complaint handling procedures and to the contact details of the Ombudsman.
- Mortgage brokers register all customer complaints and respond immediately.
- Mortgage brokers check customer satisfaction at regular intervals.
Principle 6: Credit cycle management
- Mortgage brokers act in accordance with a predetermined credit policy that covers all aspects of the credit cycle:
1. customer acceptance;
2. screening the loan portfolio;
3. risk prevention;
- Based on the information obtained from the potential borrower and from other sources, Mortgage Brokers checks:
1. with due respect for privacy and in accordance with data protection regulations, whether the individual potential borrower has the possibility to repay the credit in question with his / her income;
2. whether that repayment capacity will continue to exist in the near future, despite his / her current debt burden.
Principle 7: Collection of Data
- Mortgage brokers sets standards for customer identification.
- Mortgage Brokers collects the accurate and relevant information about the borrower that we need to estimate whether or not they will be able to meet their financial obligations, both internally and externally.
- The lender has the right to check the information provided by the potential borrower for accuracy and completeness.
Principle 8: Credit risk assessment
- Our credit risk assessment and credit portfolio analysis models are systematically based on:
1. credit rules and / or scoring models;
2. the available budget, which examines the extent to which the client will be able to meet his financial commitments in the future, taking into account his foreseeable income and expenses;
3. accurate and reliable estimates on a professional basis of the value of the home in the case of home loans.
- Mortgage brokers will be particularly careful when it comes to products with initially a fixed interest rate and / or with later interest rate increases, and in particular with regard to loans with a variable interest rate.
Principle 9: Risk prevention
- Mortgage brokers follow a structured approach so that the credit and fraud risks associated with current agreements can be noticed and mitigated.
- Mortgage Brokers immediately contacts the customer who is not making a payment, to find out the reason and to look for suitable solutions.
- In the event of unforeseen life events or other important changes in the borrower’s living conditions, Mortgage Brokers will investigate requests to adjust / change the repayment scheme. In such a case, the borrower will be informed of the financial consequences and the legal implications of a possible change in the credit conditions.
Principle 10: Debt counseling
- Every credit decision is based in particular on the calculation of the remaining budget. This is a tool for the potential borrower in determining his borrowing capacity, taking into account, among other things, the amount of the loan, the term and the repayment arrangement.
- Mortgage brokers provide the borrower with all reasonably expected assistance to facilitate the handling of the loan.