Sony Bank Enters Tie-up with ITOCHU HOUSING in Mortgage Loans
July 28, 2008
Sony Bank, Inc., a wholly-owned subsidiary of Sony Financial Holdings, today announced that it will offer mortgage loans in cooperation with ITOCHU HOUSING Co., Ltd. ("ITOCHU HOUSING") from July 28, 2008.
ITOCHU HOUSING will accept applications for these mortgage loans, which will be offered by Sony Bank to people who purchase newly built real estate properties sold by ITOCHU HOUSING. Borrowers who meet certain Sony Bank lending criteria will be eligible for preferential interest rates.
ITOCHU HOUSING sells on consignment newly built condominiums and single-family houses subdivided mainly by the ITOCHU Group. Capitalizing on the wealth of information and the network of the ITOCHU Group, ITOCHU HOUSING provides extensive support from marketing and planning through to sales.
Sony Bank's mortgage loans, which do not require a guarantee or group credit life insurance fees, are highly convenient. The entire loan process, from application through to contract, is conducted without the borrower ever visiting a bank branch. Even after the initial loan has been made, payments may be accelerated and the type of interest applied may be changed, all over the Internet. In this and other ways, Sony Bank will continue to enhance its mortgage loan services.
Note: This is an English-language summary of a Japanese announcement made by Sony Bank on July 28, 2008. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.
