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Mortgage loans might be harder to obtain

After three months of relative relaxation, Romanian bankers might have tougher requirements in the pipeline for all retail loans and particularly for those intended for property acquisition, reveals a survey conducted by the National Bank of Romania, based on a questionnaire sent to the major ten players on the credit market.

Bankers who expect tougher lending terms in Q2 outnumber 40 pct those who expect laxer terms. BNR analysts said that the banks' responses further point to housing prices going up, but expectations of Q2 evolutions are less exuberant, which would justify predictions of tougher mortgage standards. As for consumer credits, the net share of the banks that anticipate tighter financing conditions is just 20 pct. Bankers' expectations of consumer credits in Q1 also pointed to more severe approval requirements, but upon the three months running to end, BNR found that a relaxation had actually taken place. On the other hand, Q1 expectations for laxer real estate acquisition loans were transposed into practice. According to BNR analysts, the relaxation of requirements for real estate loans occurred on the background of intense competition and positive evolution of economy, whereas in the eurozone tlending standards kept to a tightening trend. As far as demand for credits is concerned, bankers further have positive expectations, especially for real estate financing. According to data for Q1, demand for credit cards and mortgage consumer credits exceeded expectations by far, whereas sales of mortgage loans - although on the rise - were below the anticipated level. Sursa: http://www.rompress.ro

Tags: loans mortgage expectations bnr