Bancpost's alternative to “First Home”

8 mar 2010 Autor: Ciprian Botea

Bancpost, a top ten bank on the market, is trying to attract its clients with a euro-denominated mortgage loan with a fixed interest starting from 7.95% in the first three years and unemployment insurance. The interest rate adds a quarter of a percentage point if the loan exceeds 70% of the housing unit price. The bank also comes with a RON-denominated loan offer, with a fixed interest rate of 12.25% per annum in the first three years. The granting fee stands at 2% of the loan value and the early repayment one at 3.5% of the paid sum. After the first three years, the loan carries a variable interest made up of the six-month EURIBOR plus a 6.25% margin for euro loans, and six-month EURIBOR plus 3.25% for RON. The interest margin also goes up, by 0.25%, if the value of the loan exceeds 70% of the mortgaged asset's acquisition price. The bank's representatives had previously stated they hoped for a two-digit increase in the loan portfolio this year, mainly relying on home loans on the retail segment.