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EFG Eurobank joins state-subsidised housing loan programme
Belgrade,
10 January 2006
Director of the National Service for Housing Loan Insurance Aleksandar Jovic said today that in 2005, this institution approved around 1,500 housing loan contracts, with the total value of €40 million, and it plans to approve another 3,000 contracts within the government programme in 2006.
Aleksandar Jovic, left, and the Managing Director of EFG Eurobank Stavros Ioannou
Author:
Tanjug
At the signing of the contract between EFG Eurobank and the National Service for Housing Loan Insurance, Jovic said that additional three billion dinars will be set aside from the government budget for subsidising housing loans.
He recalled that the newly-adopted Law on Mortgage will enable citizens to mortgage the flats bought with the help of state-subsidised loans as collateral to secure the loan, adding however, that the implementation of this law will take at least six or seven months.
Greece's EFG Eurobank is the tenth bank to sign the contract with the National Service for Housing Loan Insurance, and it will grant loans upwards of €10,000, with a 25-year repayment period and two types of interest rates.
For euro-indexed loans, the nominal interest rate will be 7.45% with the annual effective interest rate of 8.02%, and for Swiss-franc-indexed loans 4.75% and 5.08% respectively.
He recalled that the newly-adopted Law on Mortgage will enable citizens to mortgage the flats bought with the help of state-subsidised loans as collateral to secure the loan, adding however, that the implementation of this law will take at least six or seven months.
Greece's EFG Eurobank is the tenth bank to sign the contract with the National Service for Housing Loan Insurance, and it will grant loans upwards of €10,000, with a 25-year repayment period and two types of interest rates.
For euro-indexed loans, the nominal interest rate will be 7.45% with the annual effective interest rate of 8.02%, and for Swiss-franc-indexed loans 4.75% and 5.08% respectively.
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