Mortgage, Secured Personal Loans, Hardest To Get – Kiwi Finance

Bidian said nine banks that collaborate with Kiwi Finance no longer grant loans in this period, adding that currently, the downpayment required by banks for a mortgage loan is 25-50%.

Kiwi Finance head said the factors that might directly encourage mortgage loans would be a coherent anti-crisis plan drawn up by the Government, the central bank’s monetary and administrative policy, the banks’ risk policy and a convergence between real estate prices and the real purchasing power.

According to a survey conducted by Kiwi Finance, one of three Romanians are discontent with their relation with the bank, due to the lack of information on interest hikes, hidden commissions, and service quality.

Around 60% of the respondents believe the financial crisis will significantly affect their current expense budget. Half of respondents plan to make real estate investments next year, 23% plan to buy a car, while 2% have business projects.