Old loan refinancing, the only business that can move retail banking market this autumn

The lower interest rates of new offers, the elimination of the early payment fee, some banks' giving up the analysis fee and the promise of a new notary tax cut are likely to bolster old loan refinancing.

Lacking new clients and coping with a wave of discontent from old clients, bankers are starting to throw refinancing offers at lower interest rates onto the market, with some banks even offering to take over more loans held by a single client and consolidate them.
However, most debtors are finding it hard to refinance old loans as the value of collateral has plunged in the past two years. Still, clients wanting to refinance loans may leave behind another hurdle after notaries public proposed to the Ministry of Justice that fees for mortgage contract authentication be cut from 0.5% from the loan value to a maximum of 100 RON.
It is as late as now that the race for clients seems to be tightening, as some lending institutions believe they are in a position to take advantage of some peers' image problems or others' inability to slash loan costs.