OREANDA-NEWS. June 27, 2012. The intended purpose of a home loan is usually the purchase of one’s first own home. In the wake of the economic decline, people have started to put in practice the decisions that had been shelved in the meantime, reported the press-centre of SEB.

Triin Messimas, Development Manager of Private Loans at SEB: “A quarter of the Estonian-speaking clients moves into their new home from leased premises. More than one-half of the Russian-speaking clients take out a loan in order to move out of their family home. Women are more inclined than men to start with a less risky option: leasing instead of buying and postponing the loan-taking.

Since 2010, people have also started to realise the decisions they postponed during the economic crisis: 31% of the borrowers exchange their leased apartment for their own home. Between 2005 and 2007, four per cent of the borrowers took out a home loan with the main goal of investing into real estate; since 2005 this goal has been prevalent for an average of 3% of cases.

SEB conducted the survey on home loans with a focus on loan-related issues in spring 2012. The survey covered 2118 clients who have taken out a home loan.