Demand for loans is increasing among the population, home loans are growing at an unprecedented rate, and personal loans also peaked this year. This analysis was read in a new online statistical survey by financial experts.
In 2017, the personal credit offer of the reporting credit institution was assessed at HUF 1.3 million, which represents an annual 10% improvement over the previous one. Compared to 2015, it outperformed by 30%.
- The average value of home loans is similar to 2016 amounts, but is 75% higher than in 2015.
In 2016, the retail credit market grew at an unprecedented rate. The change in the right direction is due to:
- the sharp decline in interest rates.
“Compared to a home loan maturing in 20 years, we now receive $ 13 million instead of the 8 million 5 years ago, which was available for a monthly repayment of nearly $ 83,000. Today’s 13 million is available for the same $ 83,000 in monthly installments. ”
We’ve summoned a financial institution specialist
- The increase in the average loan amount for personal loans indicates that the income of the population has increased, and the desire to lend again.
- The 75% increase in mortgage lending was also supported by the rise in property prices and the appearance of subsidized loans. eg. the Family Home Creation Discount, a consumer friendly loan, and Csok 10 + 10 also contributed.
Personal loan allocations in 2017 increased 400% year-over-year. Mortgage loans increased by 480%.
The expert is of the opinion that the fact that everyone knows what credit they have when they know their credit supply plays a role in their significant growth.
Before applying for a loan, they compare the terms of the loans
- Because of the large amount of banking offers you can discover larger differences. In personal and home loans, we can find millions of differences between the offers of credit institutions.
- The best personalized home and free use loan facility is not necessarily provided by our own bank!
According to the Daisy Bank, new home loans rose by 38% this year, an increase of HUF 297 billion compared to the previous year. Personal loans also increased by 51% to $ 142 billion.
Let’s also see the restrictions so that nobody needs to be afraid of being in debt because there are limits to over-lending. The most important of these is the “proportional installment payment”. The barrier that prevents anyone from paying more than 50% of their income. The exception is a well-earning client whose monthly income is as high as $ 400,000, who can expect a higher limit of 60%. The expert commented favorably on the limits, which protect borrowers from the risk of over-lending.
If you are interested in home loans, CSOKs, consumer friendly loans, contact our credit brokerage experts who will provide you with free professional mortgage information! Fill out the form and we’ll call you back!