Belgrade – Approval of housing loans for the purchase of the first apartment with a share of 10% It’s an incentive, a trigon, and a good measure, according to the Serbian Banks Association (UBS).
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This is a good opportunity for banks to see their options and take risks, UBS Secretary General Vladimir Vasi told Tanjug.
The approval of such loans, recommended by the National Bank of Serbia this summer, was first initiated by Potanska tedionica Bank, and Raiffeisen Bank also decided to take such a step.
Since the second half of June, Potanska tedionica Bank has been granting housing loans to buyers of the first apartment with a 10% reduction in mortgage rates. Share.
In this state-owned bank, they tell Tanjug that when it comes to buying their first real estate on loan, the upfront costs and participation itself have often been an obstacle for customers to make such an important life decision.
They note that it was the timely decision of the NBS that created the regulatory space for modification and limitation of the required share of this particular customer segment.
“The results after five months of implementation, measured by the number of loans received and disbursed with a 10% share, show a great interest in this type of product, only confirming that the activities are very well targeted and of course deliver the expected results,” said Potanska tedionica.
As for the level of interest rates on housing loans, the bank notes that it has remained unchanged because the amount of the share does not affect the interest rate.
Raiffeisen Bank reports that it has included housing loans with a 10% share in its offer in line with the NBS recommendation, and that this housing loan model is intended only for the purchase of the first apartment.
“We are currently processing approximately 15 applications for this home loan model,” Raiffeisen Bank told Tanjug.
They argue that the demand for home loans is generally increasing, which should be reflected in the increasing number of financing applications that the bank receives.
The bank claims that it can be expected that the demand for this loan model will also increase, because, as they explain, a loan on more favorable terms stimulates the purchase of the first apartment and the solution of an important life issue.
As for the conditions, they state that this type of loan requires a minimum of 10 percent. Purchase price, and the maximum loan amount is determined by the customer’s creditworthiness, i.e. it is determined in the same way as for loans with a larger share.
The maximum repayment period, they add, is 360 months, and the interest rate remains unchanged compared to the standard Raiffeisen Bank mortgage model.
UBS General Secretary Vladimir Vasi says that banks should provide this option, but the customer should decide for himself when he takes into account the amount of the stake, the duration of the loan and the amount of the monthly installment.
He will not apply for a housing loan – he explains – for a longer period it may mean a lower monthly installment and the client should decide if it suits him and choose the one that is more suitable for him.
He reminded that for those who buy the first property, there is still a 10 percent refund. VAT and that this possibility should be taken into account when making your decision.