Estonia, Financial Services, Loan, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 02:25

Estonian Kredex provides guarantee for EUR 32.5 mln worth of housing loans in Q1

BC, Tallinn, 03.05.2016.Print version
Estonian banks issued in the first quarter 524 housing loans in the amount of 32.5 million euros against surety provided by Kredex, informs LETA/BNS.

Loans for which Kredex provided surety made up 16.2% of all housing loans issued in Estonia in the first quarter, 2.6 percentage points more than in the same quarter a year ago, Kredex said.

 

At the end of the first quarter, the housing loan guarantee portfolio of Kredex stood at 39.7 million euros. During the period the Kredex guarantee was used by 235 young families in the amount of 1.9 million euros, 287 young specialists in the amount of 2.5 million euros, and two veterans in the amount of 20,200 euros. The average loan sum was 61,965 euros.

 

Housing loan guarantees provided by Kredex were used for the purchase of apartments in 85% of the cases and for the purchase of houses in 14% of the cases. The rest was used for the renovation or construction of dwellings.

 

The state-run financing institution has been providing surety for housing loans since 2000.






Search site