Romanian Banks See Easier Conditions For Mortgage Loans, First Time In 2 Yrs – Survey

Romanian banks expect, for the first time in the past two years, a relaxation of lending standards for mortgage loans, on the real estate market, by lowering housing prices, according to a central bank survey.

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In the last three months of 2009, the demand for mortgage loans was similar compared with the previous quarter, the survey said.

Around 45% of the local lenders considered necessary to restrain the lending conditions for the consumer loans, while the need for restriction at mortgage loans dropped below 10%, according to the survey.

"The expectations for the first quarter indicate a slight relaxation of standards for the mortgage loans, for the first time in around two years," the report says.

The survey is drawn up by BNR quarterly, in January, April, July and October and is based on a list of questions sent to the first 10 lenders chosen according to their market share on the lending segment.

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