Loans

National Bank (NBG) is launching a mortgage program for young people in an attempt to respond to their increased housing needs, but also to mobilize the mortgage market, which is sluggish due to low demand.

As of Monday the obligation of credit managers to put into operation the special digital information platform for borrowers to provide personalized information is in operation.

The Ministry of National Economy and Finance established this obligation in order to improve the provision of services to borrowers and to effectively deal with communication difficulties.

The Bank of Greece is establishing a ceiling on the issue of new mortgages to prevent excessive lending.

Governor Yannis Stournaras has decided to set a maximum loan limit in relation to the value of the property and a maximum limit for servicing the debts from housing loans in relation to the total income of the borrower.

Greece continues to have the worst performance in household credit, registering a consistently negative rate, which was -1.7% in January against a 0.3% increase in the eurozone, according to a report published on Thursday by DBRS Morningstar, focusing on the "slow production of new mortgage loans."

Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion. This unprecedented figure, revealed by the Bulgarian National Bank, marks a remarkable 18.77% increase from the previous year, fueling optimism within the property market.

Italian debt recovery company doValue, which is also active in Greece, plans to diversify its sources of revenue beyond non-performing loans, its CEO said on Friday, after it reported a €19 million net loss for 2023.

Banks are responding to the climate of caution among households as regards taking out a loan with new cuts in mortgage rates, in a bid to spark the interest of potential new buyers. They are also extending, until the end of the year, the interest rate freeze in force since last May for existing borrowers.

The governor of the Central Bank of Cyprus has dispatched crucial correspondence to banks and credit repurchase companies shedding light on the strategy for restructuring nonperforming loans (NPLs) and navigating credit risk management.

The Bank of Greece, in cooperation with lenders, is establishing limits on mortgage amounts in relation to the commercial value of the property and the monthly installment to be paid by the new borrowers.

It was decided that the Hellenic Corporation of Assets and Participations (EESYP), widely known as Hyperfund, was to be established in August 2015 as part of the agreement with the country's European lenders for the 86-billion-euro loans of the third bailout agreement.