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Mortgage credit market to re-launch within about one year

The Romanian mortgage credit market is expected to witness a re-launch in about one year, both for the clients and the commercial banks, Romanian Banking Association (ARB) president Radu Grastian Ghettes told a seminar on the developments in the real estate market, on Thursday.

'Romania has a lagging mortgage credits market, which is currently slowing down, but I expect the Romanian mortgage credit to be invigorated soon, within round one year,' said Ghetea, adding that Romania has potential in this sector because it is still far from the weight of the mortgage credits in Europe.

Romania's Central Bank (BNR) announced the partial alteration of the lending requirements and removed the stress test as inessential for the lending scoring, in Jan, this year.

The alteration has the mortgage credit particularly in view, BNR Governor's adviser Adrian Vasilescu said on the occasion.

BNR Administration Board decided that based on thorough analyses, the lenders have the opportunity to calculate a bigger indebtedness for the borrowers, in case they guarantee for the loans with high quality real estate properties.

 

Sursa: http://www.rompress.ro

Tags: mortgage market credit bnr

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