Banks still await clarifications about the “First House programme”

The first loan contract for the “First House” programme was signed on the 8^th of July, and BRD Romania is the first banking institution which signed the first warranty convention with the Romanian state. The other credit institutions wait their turn, but not before the Warranty Fund clarifies a series of obscure points in the treaty.

The Romanian government received offers from 20 banks for credits, in total value of 1.4 billion Euros, over the maximum warranty ceiling established at 1 billion Euro. With all this, the warranty credit convention was not signed by the other 19 financial institutions. The document was sent to banks at the end of last week, but the institutions first requested a series of clarifications. One of these, say banking sources, reefers to a clause that stipulates that the state can seize a house and refuse to cover banks losses.

Persons who want to receive loans though the “First House” programme will have to pay a 5% down payment for a house of maximum 60.000 Euros or 3.000 Euros plus the difference of the acquisition price.