Next week could see the first mortgage credits with low or even zero down payments and personal credits with an increased degree of indebtedness become available on the banking market. The developments come as the NBR (The National Bank of Romania) is preparing to approve the internal lending norms of a bank. So far eleven banks, which are already heavily involved in granting credits to individuals, have sent the new norms of relaxed lending (adapted to the various client profiles) to the National Bank, which must validate each individual norm. Florin Georgescu, first-deputy-governor of the NBR, in charge with supervising commercial banks, announced on Tuesday that one of the 11 banks might get the approval this very week. The decision would allow the bank to start granting mortgage credits with a minimum down payment in the case of clients with a good credit track record, as well as to accept a higher indebtedness level for clients with higher incomes. The approved bank could have a significant competitive edge over other banks until their norms are validated, given the high expectations that have developed on the market.
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