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Although the National Bank of Serbia recommended bankers in June to reduce the minimum share of buyers of the first apartment from 20 to 10 percent to make it easier for as many citizens as possible to have a roof over their heads, so far only one bank in Serbia has accepted this recommendation.
At most banks, as we discovered, the minimum share for a home loan is still 20 percent, while, to make matters worse, some have tightened conditions further.
– I have been raising money for years to participate in the apartment. I was very happy when the decision was made to reduce the stake, but when I finally found a property that suited me and went to the bank, I experienced an unpleasant surprise. They told me that participation did not decrease, and a similar scenario was repeated in four other banks that I visited, a story for Kurir Dragana M. from Belgrade, who says that according to her calculations, she calculated that she would pay 7,000 for a. 70,000 euro apartment. euros of participation, and now it is clear that he will need twice as much. Money that you say you don’t have.
Rigorous conditions
– Even in that bank that grants a loan with a 10 percent participation, it is required to provide a guarantor for that participation, who at the time of paying the loan is not more than 70 years old, and at the same time his solvency is affected by your loan. So, it is practically impossible to take a loan with a 10 percent share – adds our interlocutor, who says that some banks have also tightened the conditions for those with a salary of less than 120,000 dinars.
They were afraid of the crown
Zoran Grubisic, a professor at the Belgrade Banking Academy, told Kurir that the decision made by the NBS was only a recommendation, and that banks, based on the evaluation of their balance sheets and the structure of “bad” loans, as well as in risk calculations, they have the right to demand more stringent conditions.
He points out that, in general, banks would pay more to give a smaller stake, because the fees would be higher, and therefore the returns would be higher than the interest:
– However, the decision not to reduce the participation is protection against risks so as not to enter a situation of having more “bad” loans that affect its capital adequacy and affect its financial stability. The situation with the coronavirus has generated many uncertainties regarding the duration of the epidemic, economic growth, employment … It is obvious that banks estimate that they would run a greater risk if the participation fell to 10%.
National Bureau of Standards
We follow what they do
The NBS recalls that the new August measure gave banks an additional incentive to reduce the mandatory participation in loan approvals, as well as to carefully monitor the implementation of new NBS decisions in the banking sector. We do not receive any comments from the Association of Banks.
Kurir.rs/ Ružica Kantar Photo: Shutterstock
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