Property in Romania

No Down Payment For Romanian Citizens


Romania’s Central Bank, or BNR, decided to allow natural persons to access credits without asking them down payments that used to worth 25% of the sum for the real estate credits and 30% for the consumption credits.

The decision was made Friday, by BNR’s Managing Board. BNR published at the end of last year a draft for regulating the credits assigned to natural persons, in order to eliminate some restrictions, as the obligatory down payment worth minimum 25% of the value of the dwelling or construction, for real estate credits.

BNR also gave up requesting the natural persons warranties worth 30% of the value of the loan, for consumption credits.

The BNR norms established two years ago in order to eliminate some risks were considered inefficient by many financial analysts, especially that the banks found variants to avoid restrictions for the consumption credits.

BNR also gave up requesting the natural persons warranties worth 30% of the value of the loan, for consumption credits.

The BNR norms established two years ago in order to eliminate some risks were considered inefficient by many financial analysts, especially that the banks found variants to avoid restrictions for the consumption credits.

Date posted: March 3, 2007