According to Szczurek, the vulnerability is determined by the higher impact of the increase of ROBOR (Romanian Interbank Offer Rate) on the instalments and the higher exposure given that the minimum down payment required is 5%, while the rest is represented by the loan.
ING Bank was the first lender which decided to increase the down payment required on mortgage loans contracted through First Home program from 5% to 10% due to the decrease of the state guarantees for old apartments from 50% to 40%. The down payment required on standard mortgage loans stands at 15%.
ING Bank holds a market share of 8% within First Home program, Szczurek said.