Banca Comerciala Carpatica follows suit in raising mortgage down payments

Newsroom 16/05/2016 | 18:09

Banca Comerciala Carpatica increased the down payment for mortgage loans in RON from 15 to 28 percent as a result of the impact the debt discharge law could have on its client portfolio, according to Mediafax newswire.

“The decision of the bank is absolutely necessary to maintain the conditions of prudence and competitiveness as a result of the impact that legislation may have on the portfolio of customers, but it is also a necessity of adjustment of credit supply to the new legislative framework by adjusting lending policies,” according to the bank .

All of the top 10 banks have already made the move, with Banca Transilvania being the latest  in increasing requirements to 20 percent for first time homebuyers who apply for a RON dominated loan with an equivalent value of up to EUR 125,000 and about 25 percent for those who do not meet first time buyer requirement.

Other banks that have already taken this decision were Raiffeisen Bank, Bancpost, Intesa Sanpaolo Bank, Garanti Bank, BRD, Alpha Bank, CEC Bank and BCR.

Natalia Martian

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