Mortgage loan

Lower rates expected to give boost to home sales

Home sales are expected to receive a boost following state-lenders' decision to slash interest rates, according to representatives from the sector.

After the Central Bank's decision last week to reduce the key policy rate by 200 basis points, three state-owned lenders, namely Ziraat Bank, Halkbank and Vakıfbank, this week cut interest rates on loans, including housing loans.

Two-thirds of Slovenian households loan-free in 2020

Ljubljana – Just over one out of three Slovenian households (36%) had at least one loan or instalment purchase to repay last year, excluding mortgage on their home, and about half reported making just as much to make ends meet without having to borrow or saving anything, according to a report by the Statistics Office.

BNB Set to Restrict Mortgage Loans

The Bulgarian National Bank has taken a decision to restrict mortgage lending. The Board of Directors has decided to increase the capital buffer for banks' risk loans from 0.5% to 1% from 2021. The measure aims to ensure that vaults have sufficient reserves to cover losses on non-performing loans. As a rule, the buffer is increased when it is necessary to "cool" a large increase in credit. 

Interest-free property funding legislation enters into force

Turkey's new regulation governing the interest-free funding market for housing and car sales took effect as it was published in the Official Gazette on March 7.

The Turkish Parliament approved the legislation last week, clearing the way for a possible boom in a system that has already drawn around 300,000 customers keen to avoid sky-high interest rates.

Pages