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Belgrade – The approval of housing loans for the purchase of the first apartment with a 10 percent stake is an incentive, a trigone and a good measure, according to the Association of Banks of Serbia (UBS).
Source: Tanjug
Photo: Depositphotos, Bombaert
It is a good opportunity for banks to see their possibilities and consequently take the risk, UBS Secretary General Vladimir Vasi told Tanjug.
The approval of such loans, which was recommended by the National Bank of Serbia this summer, was initiated by Potanska tedionica Bank, and Raiffeisen Bank also decided to take that step.
Since the second half of June, Potanska tedionica Bank has made mortgage loans to first-apartment buyers with a reduced participation of 10 percent.
In that state bank, they affirm for Tanjug that, when buying the first property on credit, the initial costs and the unique participation have often been an obstacle for clients to make such an important life decision.
They point out that it was the timely decision of the NBS that created the regulatory space to modify and reduce the required participation of this specific customer segment.
“The results after five months of implementation, measured by the number of loans received and made with a 10 percent participation, speak of a great interest in this type of product, it only confirms that the measures are very well focused and obviously give the expected results, ”said Potanska tedionica. .
As for the level of interest rates on home loans, the bank notes that it has remained the same, because the amount of the share has no effect on the level of interest rates.
Raiffeisen Bank says they have included home loans with a 10% stake in their offering, in line with the NBS recommendation, and that this home loan model is for the purchase of the first apartment only.
“We are currently processing about 15 applications for this home loan model,” Raiffeisen Bank told Tanjug.
They say the demand for home loans in general is increasing, and that it should be reflected in the growth in the number of applications for financing the bank receives.
The bank says that it can be expected that the demand for this credit model will also increase, because, as they explain, it is a credit with more favorable conditions that stimulates the purchase of the first apartment and solves an important life issue.
Regarding conditions, they point out that this type of loan requires a minimum of 10 percent of the purchase price, and that the maximum amount of the loan is determined by the solvency of the client, that is, it is determined in the same way as for the loans with a larger share.
The maximum repayment period, as they add, is 360 months, and the interest rate remains unchanged from the standard model for home loans at Raiffeisen Bank.
UBS Secretary General Vladimir Vasi says that it is good for banks to give this opportunity, but that the client himself must decide when to consider the amount of the share, the duration of the loan and the amount of the monthly fee.
He will not apply for a home loan, he explains, for a longer period of time it may mean a lower monthly payment and the client must decide if it suits him and choose the one that suits him best.
He recalled that for those who buy the first property, a refund of 10 percent VAT is still in force, and that this possibility must be taken into account when making a decision.
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