Mortgage loan sales slowed down in autumn despite the easingsigns issued by several banks that came up with promotionaloffers.
The total amount of mortgage loans in October climbed by almost 23meuros, double the September level, but also by three to four timesbelow the growth pace registered during the summer months, NBR datashow. In late October, banks held mortgage loans worth 28.1m RON(6.59bn euros) in their portfolio.
Bankers say they still have clients for loans, but most of them donot ask for new loans, but want to refinance their old debts, whichdoes not reflect in the total volume given that the money stays inthe system and is just moving from one bank to another.
Many banks started aggressively promoting refinancing loans byinterest and fee cuts after Ordinance 50 came into effect.Moreover, many banks eliminated the credit file analysis fee forrefinancing loans.
The slower increase in the amount of mortgage loans is exclusivelyaccounted for by the smaller number of released loans, consideringrepayments are almost non-existent.
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