News
Who is most active on the mortgage market?
13.07.2010
Younger borrowers, namely those between 18 and 25 years, in June, to only 1.4 percent of all users of the mortgage loans in the country. The larger percentage deductibles, which guarantees a high level of security is a problem for those users and leaves them in the shadow of the mass average buyer of properties. The number of granted mortgage loans is growing, but their average rate last month fell by over 16%. This study shows the Credit Center.
Customers want smaller amounts for two reasons - lower property prices and the use of a smaller percentage of external financing. Although there were initial positive trends to improve the economic environment, people have worried about financial stability in the short term and prefer to take the opportunity to acquire a new home with minimal risk.
The average amount withdrawn in June mortgage is € 30,480. The ratio of EUR / BGN loans remains withdrawn in favor of the euro.
The most preferred loans again were those of between 10,000 and 30,000 euros. They represented more than half of all loans withdrawn. Loans between 30,000 and 50,000 euros took nearly 30% of borrowers and 11.8 percent of them are drawing between 50,000 and 70,000 euros. Requests for larger amounts permanently reduced. The main reason for this are the problems that some of the wealthier Bulgarians met with management of business lately.
In mostly small regional cities to buy housing at a price between 20 and 30 thousand, often for loans that are being drawn in size from 10 to 15 thousand euros. This means a monthly contribution of 160 to 250 BGN for 20 years - an amount quite affordable for mainstream Bulgarian households. Customers quite rightly think that will be able to handle coverage of these amounts, even temporarily lose their jobs. In comparison, only two years ago the average size of mortgage loans reached € 44,000, which represents the monthly installments of about 650 Euro for a period of 20 years.
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