mortgage lending

The demand for mortgage loans in Romania was down more than 50% in the first quarter of 2009 compared with mid-2008, when the international crisis’ effects were not yet felt, but the demand is seen reviving this year, UniCredit Tiriac Bank retail director Zoltan Major said.

Mortgage lending in Romania will revive in less than a year as there is still a market and, in spite of the crisis, clients are still looking to buy property, Romanian Banks’ Association ARB president Radu Ghetea said Thursday.

Romanian banks can accept a higher indebtedness degree for mortgage lending as they will no longer apply the stress test, according to the central bank’s new regulations published Thursday in the Official Gazette.