After more than a month since the “First Home” scheme should have kicked off, the 19 lenders who made public their participation in the scheme haven’t yet signed all the required conventions. Aurel Saramet, chairman and managing director of National Credit Guarantee Trust (FNGCIMM), outlined to Wall-Street the current situation of “First Home” program.
17 banks of the 19 who expressed interest in the scheme, signed the conventions
Until mid this week, a month since the First Home scheme should have been up and running, only 17 banks signed the necessary conventions with the Small-Business National Credit Guarantee Trust.
“Until last night (e.n – August 4), 17 banks signed the conventions with the Trust and were authorized to disburse loans under the scheme, and the remaining two are due to sign the papers soon”, Aurel Saramet, chairman and managing director of FNGCIMM, told Wall-Street.
Initially, 20 banks expressed interest in participating in the government’s stimulus measure. But later on,ING Bank pulled outon discordances with the provisions set forth in the conventions. ING Bank said it would soon launch a lending product similar to those under the scheme.
Guarantee fund approved 148 applications, 30 pending
Although a number of lenders said the number of “First Home” loan applications has risen sharply, the Guarantee Trust received only 178.
“Up to now, we received 178 applications for state guarantee for loans under the scheme, of which 148 were approved and 30 are still pending”, said Aurel Saramet.
If in the 148 applications submitted, the clients had requested the maximum guarantee, of 60,000 euros, the Trust would have already exhausted 8.88 million euros of the total government stimulus of 1bn euros.
Why did banks refuse to sign the convention?
The first bank that disbursed a loan under t
