Much of banks that a few months ago decided to increase the advance on housing loans up to 30-35%, now announces a reduction of the advance up to 20-25% of the total loan.
BCR announces that its strategy for 2016 is to maintain and consolidate its position as market leader in Romania and to provide accessibility in terms of loans. Also announced the reduction of the advance to 25% of the total loan amount.
This was followed by other banks like
– Piraeus Bank, which reduced the the advance from 40% now to 20%
– BRD-Groupe Societe Generale announced it would consider the possibility of reducing the advance on mortgage loans.
„We are entering into a state of normality caused by the reduction of advances. It is a sign that banks are willing to lend and get back into the market. Following the announcement BCR, certainly other banks will follow.
I expect that smaller banks will reduce the advance even more, perhaps to take it back to 15%, given that they require competitive strengths in front of big players, „said Liviu Andrei, co-owner of Alliance Finance Broker.