Piraeus Bank lowers down payment on mortgage loans, three months after approval of debt discharge law

Newsroom 03/08/2016 | 16:25

Piraeus Bank Romania, owned by Greek Piraeus group, accepts a minimum down payment of 20 percent for mortgage loans and real estate investments in RON and 30 percent for the loans in euros.

The lender moved to lower the down payment it had increased after the approval of the debt discharge law, which allowed mortgage loan clients to give up the ownership right over the property that constitutes the credit warranty.

In May, the bank had requested a minimum down payment of 30 percent in for loans in the local currency or euros for a period lower or equal with 15 years and 40 percent for loans of over 15 years. Until then, Piraeus Bank had a down payment minimum request of 15 percent.

Piraeus Bank Romania has been operating prese the Romanian market for 15 years, serving over 300,000 clients.

Also BCR accepts now a down payment starting from 20 percent for mortgage loans, but only for big cities, after it had increased this limit to 35 percent in May.