Mobile app for Totalkredit
A practical and accessible solution to help you get a quick overview when buying real estate.
Challenge
A big part of the adult Danish population has a mortgage loan, and it’s typically the greatest financial obligation of our lives. At the same time, we feel uncertain in the process of loaning, and get a feeling of “this is not something I have an understanding of”. And strictly speaking: It doesn’t interest us. In fact, few of us are passionate about knowing anything about mortgages. However, it is important to decide how much we want to loan, for how long and how we weigh the different pros and cons of the different types of mortgages. In the loaning situation, we are typically left with mixed feelings of inadequacy and an expectation of a protracted and complicated process – a process which has great significance for our future economy.
The challenge is to create a digital service that will be experienced as simple, and enables ordinary, adult Danes to make competent choices, without first having to pass the great mortgage loan exam. A service that is experienced as simple and easy. A service that people without financial knowledge want to use.
Solution
Miracle developed an app that delivers a brief overview if you are about to buy a home, but also if you already have a mortgage loan. You can easily calculate the costs of a loan for a new home with different types of mortgages. You can also check your mortgage loan, if you already have one. Perhaps, you may refinance your mortgage to a different type of loan. It is also possible to search for the home of your dreams directly through the app, and get suggestions for financing. The solution retrieves data from the Den Digitale Tinglysning (The Digital Registration), houses for sale, NemID and integrates into the calculation services of Totalkredit. A solution that requires communication of complex material, UX, security regarding data privacy and security regarding accuracy.
In fact, the solution states unusually high demands on design as Totalkredit co-brands the medlemspengeinstitutter they work with. Thus the app manages Look & Feel across companies.
About
Most of Totalkredit and Nykredit is owned by the association Forenet Kredit. The purpose of the association is, among other things, to ensure Danish homeowners and companies access to financing across Denmark now and in the future.
Meanwhile, Forenet Kredit has made a clear strategy – the association’s income from the ownership of Totalkredit amongst other activities should benefit the customers. This is for instance why you as a customer at Totalkredit can earn KundeKroner (CustomerCoins).
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