Romanian lender BCR has set aside almost EUR 20 million for the financing of the program “Prima Casa 4” (First House) which translates as 3.5 percent of the total founds that the bank had for the fourth stage of the governmental program “Prima Casa” worth EUR 600 million.

BCR exceeded half of this year, the threshold of EUR 1 billion of credits granted under the program “Prima Casa”. During the program, young families can benefit from preferential conditions and mortgages with low interest available through the program “Prima Casa”.

As part of the fourth stage of the program, loans of EUR 38,000 are available, decreasing compared to the first stage of the program, when EUR 41,200 was on offer to borrowers . The average value of the own contribution of customers to purchase their first home was 10 percent, according to BCR.

Romania’s government-backed program “First house” (Prima casa) started in summer 2009.

Ioana Toader, ioana.toader@romania-insider.com