Mortgage loan
Lower rates expected to give boost to home sales
Home sales are expected to receive a boost following state-lenders' decision to slash interest rates, according to representatives from the sector.
After the Central Bank's decision last week to reduce the key policy rate by 200 basis points, three state-owned lenders, namely Ziraat Bank, Halkbank and Vakıfbank, this week cut interest rates on loans, including housing loans.
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Turkish state lenders lower interest rates
Turkey's state lenders - Ziraat, Halk, Vakıf - announced a drop in interest rates of corporate loans by 200 basis points, following the Central Bank's decision.
The Central Bank cut its policy rate by 200 basis points last week to 16%. The rate will be implemented as of Tuesday.
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Two-thirds of Slovenian households loan-free in 2020
Ljubljana – Just over one out of three Slovenian households (36%) had at least one loan or instalment purchase to repay last year, excluding mortgage on their home, and about half reported making just as much to make ends meet without having to borrow or saving anything, according to a report by the Statistics Office.
BNB Set to Restrict Mortgage Loans
The Bulgarian National Bank has taken a decision to restrict mortgage lending. The Board of Directors has decided to increase the capital buffer for banks' risk loans from 0.5% to 1% from 2021. The measure aims to ensure that vaults have sufficient reserves to cover losses on non-performing loans. As a rule, the buffer is increased when it is necessary to "cool" a large increase in credit.
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One in two household survives on loans each month
Almost one in two Greek households is forced to cover daily needs by borrowing. The financial crisis of recent years and the pandemic of job suspensions in several sectors of the economy since March 2020 have created a suffocating barrier for households, leading them to borrow so that they can survive.
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How Do Foreigners Buy Real Estate in Serbia?
Housing loans are approved even to non-residents, but with slightly higher interest rates than to Serbian citizens.
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Interest-free property funding legislation enters into force
Turkey's new regulation governing the interest-free funding market for housing and car sales took effect as it was published in the Official Gazette on March 7.
The Turkish Parliament approved the legislation last week, clearing the way for a possible boom in a system that has already drawn around 300,000 customers keen to avoid sky-high interest rates.
Banks have frozen loans of €28.4 bln
Banks and servicers are in a race against time to reach settlement agreements over nonperforming loans and suspended loan tranches in a bid to stem the impact of the pandemic crisis, according to Finance Ministry data.
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‘Gefyra 2’ to have criteria established
The criteria for the state subsidy program for business loans taken out by companies battered by the pandemic will be discussed in conference calls the Finance Ministry will have with European Union officials next week.
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Staikouras confirms plan for businesses
Finance Minister Christos Staikouras confirmed on Saturday that the government intends to expand the loan repayment tranche subsidy program for mortgage holders, known as "Gefyra" (Bridge), to businesses.
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