It is good news for Romanians who want to buy homes but do not fall under the First Home program, BCR reduced the minimum advance for mortgage loans in lei to 25%, and Piraeus Bank needs 20% for loans in lei and 30% for loans in euros.
BCR reduced the minimum down payment required for mortgage loans in lei, to 25% (from 35%, as it was established in May, after the law on Giving in payment and as it was until the beginning of August). The 10% down payment allows more homeowners to qualify for a mortgage.
However, this BCR reduction only applies to large cities, where the real estate market has several valuation tools, respectively for Bucharest, Cluj-Napoca, Timişoara, Iaşi, Constanţa, Craiova, Braşov, Galaţi, Ploieşti, Oradea, Brăila, Arad, Piteşti, Sibiu, Bacău, Târgu Mureş, Baia Mare, Buzău, Botoşani, Satu Mare.
Piraeus Bank Romania also “cut” the minimum down payment by 10%. This month, for a mortgage loan in lei, the minimum down payment requested by this bank is 20%, and for a euro loan, it is 30%.
If you would like more information about the villas available for sale in Bucharest, please contact the ESOP team by filling this brief form, or by phone (+4) 0722.214.171.124 or (+4) 021.528.04.40. We’ll promptly answer your inquiry!