The second largest lender in Romania, BRD, has decided to increase the down payment for the mortgage loans in euro with a maturity of over 25 years to 50% of the property price.

For the loans in euro due in less than 25 years the down payments amount to 25% while for those in lei the down payment is 15%.

In general, the loans in euro with a maturity of 25 years have a small share in the local lenders portfolios.

BRD may have taken this measure as a protest against the new law on mortgage loans, which is currently debated in the Parliament. The law, which has stirred protests among local banks, allows the mortgage debtors to get rid of their debts by giving the mortgaged assets to the banks.

editor@romania-insider.com