14.11.2007

A mortgage credit growth of 75 per cent is expected close to Christmas and New Years's, and consumer loans will rise 50 per cent. The reason for the expected rush is that banks offer promotional conditions for loaning credit and lower the interest by about 0.05 per cent, according to research by Credit Center.

Usually during the winter season, the conditions are less strict in order to attract clients, for example the lowered or zero bank tax. The expectations are that, in November and December, the loan volumes will be high, like in July and August when money is loaned for holidays or repairs.

Young Bulgarians between 25 and 35 lend most of the bank credits, Credit Center research shows. The amount preferred is in the range of 60 000 to 80 000 leva. In October, the mortgage credits are 5 per cent more than in September.