Prima pagină » English » Total Costs In „First Home” Program, 42%-49% Lower Than Mortgage Loans – Romanian Fin Min

Total Costs In „First Home” Program, 42%-49% Lower Than Mortgage Loans – Romanian Fin Min

Romania's Finance Minister Gheorghe Pogea on Monday said some offers of the 20 banks for the “First Home” program were below the limit imposed by the government, thus the total costs will be 42%-49% lower than for mortgage loans.
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29 iun. 2009, 15:51, English

"I could say that many of the banks’ offers were below our offer, so that (…) the competition will only serve the citizen’s interest," Pogea stated.

The total value of the offers is of EUR1.46 billion.

The 20 banks taht submitted offers are: BCR, BRD, Raiffeisen, CEC Bank, Alpha Bank, Volksbank, Banca Transilvania, Bancpost, Banca Romaneasca, Piraeus Bank, Leumi Bank, ATE Bank, Intesa San Paolo Bank, Credit Europe, OTP Bank, Unicredit, ING, Emporiki, Millenium Bank and Garanti Bank.

The minister said that the program might become operational by July 15.

According to Pogea, any Romanian can buy a house with only EUR3,000 down payment.

The government has recently launched a program to guarantee loans to build or buy a home. The guarantee, offered by the guarantee fund for SMEs, will amount to EUR60,000 at most and will be granted to the people buying their first home and who did not previously benefit from a mortgage loan.