SEB Bank is­sued 2% more mort­gage loans than a year prior

Baltic News Network - - News -

In the first six months of 2018, SEB Bank has is­sued EUR 64.6 mil­lion in mort­gage loans to pri­vate per­sons, which is 2% more when com­pared to the same pe­riod of 2017. 46% of loans were pro­vided in co­op­er­a­tion with Al­tum guar­an­tees to fam­i­lies or young spe­cial­ists, as re­ported by SEB Bank rep­re­sen­ta­tive Jeļena Kon­tusa.

Most loans were is­sued to as­sist with hous­ing af­fairs: ap­prox­i­mately 14% of loans were is­sued for hous­ing ac­qui­si­tion and 4% for house con­struc­tion. Since the be­gin­ning of the year, SEB Bank’s to­tal credit port­fo­lio has in­creased by 2.7%.

«Buyer ac­tiv­ity is recorded the high­est in Riga and its sur­round­ing ter­ri­to­ries for both the num­ber of ap­proved loans and size of those loans. 80% of all al­lo­cated fund­ing went there. Across re­gions ac­tiv­ity is the high­est in Jel­gava, Liepaja, Ogre, Valmiera and Sigulda. Res­i­dents pur­chase apart­ments more of­ten on the sec­ond-hand mar­ket. 15% of apart­ments are bought in new project build­ings. In ad­di­tion, for the sec­ond con­sec­u­tive year we have no­ticed ris­ing de­mand for pri­vate homes,» says SEB Bank board mem­ber Ar­nis Ška­pars. Around 45% of loan-tak­ers are aged 30-40 years. Ac­tive loan-tak­ers are men aged to 40. In the age group older than 40, how­ever, women are more ac­tive. The av­er­age age of loan-tak­ers us­ing Al­tum guar­an­tees are 28-30, ac­cord­ing to data from SEB Bank. «Un­til now loans with Al­tum sup­port have formed 40% of the to­tal vol­ume. How­ever, this year Al­tum loan vol­ume has in­creased to 46% this year. Sup­port for young spe­cial­ists also plays a ma­jor role in this. Since the be­gin­ning of the year, around 540 loans with Al­tum sup­port worth more than EUR 33 mil­lion have been pro­vided to clients. 83% of them were pro­vided to fam­i­lies, whereas 17% were pro­vided to young spe­cial­ists. Ac­tiv­ity was the high­est in Riga in this cat­e­gory as well. High ac­tiv­ity was recorded in Liepaja, Jel­gava and Ogre,» Ška­pars con­tin­ues.

More and more peo­ple con­sider pick­ing credit pay­ment in­sur­ance to en­sure safety of their fi­nances. Such in­sur­ance so­lu­tion was picked for 70% of hous­ing loans is­sued this year.


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