Sony Bank Enters Tie-up with PanaHome in Mortgage Loans
April 20, 2009
Sony Bank, Inc., a wholly-owned subsidiary of Sony Financial Holdings, today announced that it will offer mortgage loans in cooperation with PanaHome Corporation ("PanaHome") from April 20, 2009.
Subject to meeting certain Sony Bank lending criteria, Sony Bank will provide its mortgage loans with preferential interest rates to customers who purchase newly built or refurbished homes from PanaHome, as well as people who already live in real estate properties built or sold by PanaHome. Customers who purchase newly built or refurbished homes will be able to apply for Sony Bank's mortgage loans through PanaHome. Those who refinance their mortgage loans will need to apply from Sony Bank's service site.
As a housing company of the Panasonic Group, PanaHome provides a wide range of services, including detached housing construction, urban development through the sale of condominiums, home remodeling and real estate transactions. PanaHome helps customers live more comfortable and pleasant lives by proposing highly advanced eco technologies and after-sale services.
Sony Bank's mortgage loans are extremely convenient, because the entire loan process, from application to contract, is conducted without the need to visit 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 via the Internet. In these 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 April 20, 2009. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.
