Romanian lender Banca Transilvania ups down payment for mortgage loans

Romanian lender Banca Transilvania has increased the down payment for mortgage loans. For people who buy their first house and will access a loan of up to EUR 125,000, the down payment will grow from 15% to 20%. However, depending on the currency and the guarantee type, the down payment can reach up to 30% of the loan’s value. Banca Transilvania has thus joined the other local lenders that have increased the down payments for mortgage laws after the giving in law payment was passed. The law allows mortgage debtors to discharge their debt by giving the mortgaged assets to the bank. Local banks thus face higher risks when granting mortgage loans, which prompted most of the big lenders to come up with more restrictive lending terms. editor@romania-insider.com