“We can see signs of a loan demand thaw. The volume of refinancing applications part of the campaign carried out by BCR was double our estimates, which proves there’s massive interest among clients,” says Stefan Coroianu, head of retail products.
The bank has registered applications for home equity refinancing loans worth EUR25 million over the past month and a half, with the average value of a loan is of around EUR30,000. This means that over 800 clients applied for loan refinancing in June and July.
Refinancing home equity loans allow for the consolidation of several debts into a single loan, with clients paying a lower monthly installment than the cumulated value of all previous loans.
“An interesting trend is the rising number of clients holding unsecured loans who choose to refinance them through a home equity loan because of the better costs,” Coroianu says.
(English version by Catalina Apostoiu, editing by Loredana Fratila-Cristescu)