Internet bank Bunq will be the first bank challenger in Europe to provide mortgages, the bank confirms Monday after news from the FD .

The bank of founder Ali Niknam already has her first 100 million worth of real estate transactions on the balance sheet.

To be active in the mortgage market, the internet bank entered into a partnership with Nationale-Nederlanden (NN).

A daughter of NN will be responsible for the selection. Bunq wants the majority of mortgages to be covered by the NHG guarantee (310,000 euros). This is a guarantee on mortgages for owner-occupied homes with a purchase price up to the average house price. Moreover, Bunq wants potential buyers to bring their own money.

In order to switch to mortgage lending, Bunq first had to obtain permission from De Nederlandsche Bank. This makes it the first European internet bank to provide mortgage lending.