Bancpost drops down payment on mortgage loans

Bancpost, one of the top ten banks in Romania, has decided to increase the maximum indebtedness accepted to 70% of a monthly net income, and finance up to 100% for the acquisition of buildings, after its own individual lending norms were approved by the NBR. At the same time, the bank will drop the down payment required for real estate financing. Bankers therefore continue to battle over retail clients, coming up with increasingly more attractive offers, even though most news points to the worsening of the economic climate and the increase in lending risks. Most banks that have their own approved norms have chosen to finance up to 100% of the acquisition value of buildings and agree to 65-75% indebtedness for their clients pressured by competition. Bancpost was among the few important players that did not have its own norms approved and therefore had to apply the NBR’s norms, which are more restrictive.