OREANDA-NEWS. April 18, 2011. Bank SNORAS, while strengthening its positions in the housing loans market, raised the financed part of the obtainable housing up to 95 per cent. In addition, SNORAS has also reduced the housing loans interest rates in litas and euros, and presently they are calculated from 3.55 per cent. During this year the bank expects to double the volumes of the issuable housing loans, reported the press-centre of Bank SNORAS.

“We see positive prospects in the housing loans market, since the residents, while reacting to the economic situation, manifest more boldness in their search for housing. Although people's interest towards housing was felt last year, however, their desire to purchase it was suspended by the careful evaluation of their financial possibilities. This year the residents already assess their possibilities and situation in the real estate market more optimistically; therefore, the bank has made a strategic decision to strengthen its positions in the housing loans market. The increased financed part of the purchasable housing and the competitive interest rates being offered both in litas and euros should facilitate the possibility for the residents to obtain the housing,” states Deividas Sipaila, the director of Bank SNORAS Sales Department.

According to D. Sipaila, within the first quarter of this year, in comparison to the appropriate period last year, Bank SNORAS issued almost twice as more housing loans to the residents. The growing interest was conditioned by the market stabilization and the forecast growth of the real estate prices.  

Bank SNORAS increased the financed part of the housing from 80 up to 95 per cent. The lower interest rates for the loans were determined by the bank's interest margin which was reduced by more than 30 per cent.

Bank SNORAS offers the possibility to fix the interest rates for 5 years to the residents who want to safeguard themselves from unexpected increase of the base interest rates. Bank SNORAS has also provided the customers with the possibility to postpone the loan repayment for 1 year.