Demand for “First Home” declines

Demand for loans granted through the “First Home” scheme has
dwindled over the past few weeks, with the Guarantee Fund receiving
around 100 applications, compared with 200 in the first half of
September. Therefore, despite the lower costs, clients remain
reserved when it comes to engaging in a 25-30-year-long laborious
project – the acquisition of a home. “Over the last two-three
weeks, we noticed a relaxation. The average is now 100 applications
per day. Clients probably slowed down their pace, there was
probably no more advertising. We are also expecting answers from
banks,” said Aurel Saramet, president and general manager of the
SME Credit Guarantee Fund, the institution that provides state
guarantees to banks for the “First Home” scheme. When the programme
was launched, developers slightly reduced prices on new homes, so
as not to exceed the 60,000-euro maximum limit. In mid-September,
the Fund received around 200 applications a day, only two months
from its launch, compared with a then-anticipated rate of 50
applications a day. Since the start of the programme in July, the
Fund received over 5,000 applications, more than 4,700 of which
were approved. “We can meet demand,” Saramet now says. In times of
heavy demand, bankers complained that the file processing had
extended to a few weeks, from the five working days provided for in
the collaboration agreement.