Local lender Banca Transilvania has reduced the down payment for mortgage loans to 15% of the acquisition price, but only for loans in local currency (lei).

For other types of loans, the down payment starts from 20% based on the currency and the guarantee type.

In May, Banca Transilvania announced that it would increase the down payment both for loans in lei and euro due to the introduction of the giving-in-payment law. The down payment for loans in lei went up to 25% whereas the down payment for euro-denominated mortgage loans rose to 30%.

Most of the local lenders came up with similar measures after the law was introduced, in May this year. A few months later, however, they started reducing the down payment again.

editor@romania-insider.com