Non-forced property sales made via home in which a loss is accepted

As part of the investigation into Danske Bank’s debt collection system, we discovered a practice whereby Danske Bank negotiated agency fees with all real estate agents except for home, which is part of the Danske Bank Group, in connection with property sales that customers agreed to in order to repay debt. This practice, which existed from 2013 to 2019, may have resulted in some customers paying too high agency fees to home.

Customers affected and information to them

We are examining a group of around 2,000 customers, who may be affected by the practice and may therefore have paid too much.

Numbers below updated 30 June 2021

Approximately 2,000 customers may be affected

1,300* customers informed about potentially being affected
*Reduced by 150 in June based on updated analyzes.
The remaining customers potentially affected are not yet informed because it e.g. are closed estates.

About 800 customers are not affected

Timeline 

  • May 2021-  customers not affected by the issue begin to receive information about this
  • Nov. 2020 – We begin to inform potentially affected customers

    In November 2020, Danske Bank begins notifying potentially affected customers of the issue by letter and via danskebank.dk. We also send out a press release.

    Read more (Danish)  

  • Sept. 2020 – Information to relevant authorities

    Danske Bank provides a full written account of the debt collection case to the Danish Financial Supervisory Authority (DFSA), which includes the voluntary deficit sales agreements via home.

    Read more

  • July 2019 – Danske Bank stops the practice

    Danske Bank stops the practice. Today, we have procedures that ensure that we treat all real estate agents equally, including home.

  • March 2019 – The issue is identified and an internal review is initiated

    As part of the investigation into the debt collection case, it is discovered that Danske Bank does not negotiate fee proposals from real estate agent home, while fee proposals from other real estate agents are negotiated. To assess the scope of the problem, an internal review is initiated to understand the problem.

Want to know more?


Customers

Are you or do you think you are affected by the issue?

We will contact affected customers directly.

Find help on danskebank.dk