Interhyp

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Interhyp AG

logo
legal form Corporation
founding June 7, 1999
Seat Munich , GermanyGermanyGermany 
management
  • Vincent van den Boogert (Chairman of the Supervisory Board)
Number of employees 1,622
sales 234.2 million euros
Branch Financial services
Website www.interhyp-gruppe.de
As of December 31, 2018

The Interhyp AG is Germany's largest broker of private construction financing . The company, with headquarters in Munich was founded in 1999 and went public of 2005. Interhyp has been part of the Dutch ING Groep since 2008 and trading on the stock exchange ended in 2011.

Interhyp does not grant loans itself, but arranges offers from banks, savings banks, building societies and insurance companies. With the brands Interhyp, aimed directly to the end customer, and that is aimed at individual brokers and institutional partners Prohyp, in fiscal mediated Interhyp Group 2019 financing with a total volume of 24.5 billion euros .

history

The headquarters of Interhyp AG in Munich, Domagkstraße 34

Foundation and business model

Interhyp was founded in 1999 by Robert Haselsteiner and Marcus Wolsdorf. Both previously worked as investment bankers for Goldman Sachs , including in the interest business. Investors included 3i and Earlybird Venture Capital. Interhyp has developed into an example for companies that put established credit institutions under pressure through digital innovations.

The business model developed at the time basically still exists today: The focus is on the system-based comparison of market conditions as well as advice and the selection of suitable financing. The internet portal went online in January 2000 and is completely free for customers. The market comparison enables you to have more favorable terms, both in terms of interest rates and other parameters. Interhyp is financed through the commission that the company receives when it is placed. Not only are interest rates compared, but other conditions of the financing partners are also taken into account. In the early phase these included, for example, DSL Bank and LBBW .

Expansion and IPO

In order to accelerate its business, Interhyp also cooperated with PropertyGate, at that time one of the most important brokers of residential real estate and forerunner of real estate portals such as ImmobilienScout24 or Immowelt . In 2000, Interhyp opened up to work with brokers , property developers and other partners such as independent brokers. This formed the cornerstone for the Prohyp subsidiary . In the first financial year, financing with a volume of 300 million marks was brokered. In 2002, business more than doubled compared to the previous year, and the positive development continued in 2003 and 2004.

In order to increase the acceptance of mortgage lending via the Internet, Interhyp mainly expanded its advisory skills. To finance further growth, the company aimed to go public in 2005 . Deutsche Bank was commissioned to coordinate the project . The initial listing took place in the Prime Standard at the end of September 2005 and was many times oversubscribed. Due to the great demand from private and institutional investors, the greenshoe option was exercised. It was the most successful IPO of 2005. In December, Deutsche Börse included Interhyp in the SDAX share index .

Growth through cooperation

For the 2005 financial year, Interhyp presented record results in terms of business volume and profitability. After the company had already experimented with the first branches , it stepped up its presence on site from 2006. A second sales channel was to be established in addition to the Internet, but this still formed the core of the business through cooperation with Cortal Consors, for example . In 2007 a joint venture with MLP was set up in which Interhyp owns 50.2%. The cooperation with the financial sales consultants strengthened the business considerably. In addition to new financing, the demand for follow-up financing increased.

Takeover by ING Direct

For the 2006 financial year, Interhyp paid a dividend for the first time . This was also unusually high in the following years. Against the background of the global financial crisis from 2007 onwards , the company had to struggle with weaker demand at times. In view of the structural changes in the industry, ING Direct, a subsidiary of ING Groep , announced the takeover of Interhyp. The company was valued at over 400 million euros. After approval of the transaction by the Dutch Central Bank , ING Direct secured a majority of the shares for the first time in June 2008. In the course of this year the proportion of Dutch people rose to over 95%.

The takeover by ING Direct received positive comments from observers. In contrast, the Deutsche Kreditbank saw the independence of the advice at risk due to the competition with the direct bank ING-DiBa . Therefore, the bank initially terminated its cooperation with Interhyp, but is now one of the partners again.

Expansion of the branch network

In 2011, the Interhyp founders moved from operational management to the supervisory board. The general meeting resolved to squeeze out the remaining shareholders, and trading in Interhyp shares on the stock exchange ended. Under the leadership of ING Direct, Interhyp primarily pushed the expansion in the area. In the course of this, the company tested, among other things, a new design of its locations. Through the combination of digital and stationary sales, Interhyp gained further market shares in 2014 and 2015. 2016, 2017 and 2018 were also record years for the company. Most recently it made a name for itself with the internationalization of the business.

Jörg Utecht has been CEO of the Interhyp Group since 2017. In 2019, Stefan Hillbrand was appointed Chief Financial Officer .

organization

legal form

Interhyp AG is a stock corporation under German law . It was entered in the commercial register on June 7, 1999 . The share capital amounts to 6,593,525 euros, divided into registered shares. Its object is the brokering of loans, insurance, equity and pension funds as well as other products and advice on this, as long as it does not involve activities that require approval under the Banking Act . It may undertake all actions and measures that directly or indirectly serve the business purpose. The permits required by the trade regulations are available.

management

The Interhyp AG Management Board includes Jörg Utecht ( Chairman ), Mirjam Mohr, Marcus Fienhold and Stefan Hillbrand. According to the statutes, two board members or one board member together with an authorized representative are authorized to represent . The Interhyp AG supervisory board consists of six members. It is chaired by Vincent van den Boogert, who is ING's Chief Executive Officer in the Netherlands.

owner

Interhyp AG belongs to the Retail Germany division of ING Groep and is wholly owned by ING Deutschland GmbH. This in turn belongs to ING Holding Deutschland GmbH, whose sole shareholder is ING Bank NV. The most important subsidiaries of Interhyp AG are Prohyp GmbH (100%) and MLP Hyp GmbH (50.2%). Hausfinanzberatungsgesellschaft mbH (100%) is not operational.

Services

Interhyp

Interhyp logo

Interhyp compares offers from over 400 lenders. There are several calculators on the website that can help you decide between buying or renting, for example. The company's core business consists of arranging financing for the construction of new or purchasing existing properties, as well as follow-up financing. The spectrum ranges from classic annuity loans to subsidized residential Riester loans . Modernization of real estate can also be financed through Interhyp.

Customers have the option of making inquiries online or offline and are advised through both channels. Interhyp is present at over 100 locations nationwide. These are own branches or branches of independent commercial agents. Interhyp has been rated positively on several occasions, including by Focus Money as “fair mortgage lender” and Euro as “best mortgage lender”.

Prohyp

Prohyp logo

Prohyp operates a platform for brokering construction financing and is active both for individual brokers and for nationwide financial distributors. There are four different partner levels: Classic, Premium, PremiumPlus and Professional. The maximum commission per case is between 1.0% and 2.55% depending on the respective partner level.

In recent years, the company has made a significant contribution to the growth of the entire Interhyp Group. It currently has six locations in Berlin, Düsseldorf, Frankfurt, Hamburg, Munich and Stuttgart.

criticism

In the early years, observers criticized the incomplete consideration of government funding, which is now guaranteed.

In 2013, Finanztest criticized Interhyp's website offering prospective customers the prospect of excessive credit. The company had expected a fixed interest rate over five years and one percent repayment , which was not sufficient. Finanztest praised the fact that Interhyp reacted on the day the test was published and adjusted its website.

Web links

Commons : Interhyp  - collection of images

Individual evidence

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  63. ↑ Interhyp attacks in the area . In: Börsen-Zeitung . February 14, 2012, p. 4 .
  64. ↑ Mortgage lender tests pilot concept in Gladbach . In: Rheinische Post . November 11, 2016, p. 16 .
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  71. ↑ Michael Flämig: Interhyp is rehearsing internationalization . In: Börsen-Zeitung . February 28, 2019, p. 2 .
  72. ↑ Ulrich Schüppler: Interhyp board of directors is repositioning itself. In: Immobilien-Zeitung. January 24, 2017, accessed February 15, 2018 .
  73. ↑ Stefan Hillbrand changes to the Interhyp board as CFO. In: Property Magazine. March 1, 2019, accessed March 14, 2019 .
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