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The volume of housing loans with KredEx guarantee increased by 29%

04.08.2015

In the second quarter banks issued 540 housing loans with a KredEx guarantee totalling 32.1 million euros. Whilst the housing loan market has grown 22.77% compared to the same period last year, the volume of loans granted with a KredEx guarantee has increased by 29.3%. The volume of housing loans granted with a KredEx guarantee made up
13% (12.4% in Q2 of 2014) of all housing loans issued in Estonia.

As at the end of the second quarter, the portfolio of KredEx housing loan guarantees totalled 36 million euros. In the second quarter a KredEx guarantee was used by 250 young families in the amount of 2 million euros, 288 young specialists in the amount of 2.32 million euros and 2 veterans in the amount of 11,280 euros.

In the second quarter, the average loan amount made with a KredEx guarantee was 60,996 euros. Housing loan guarantees have been used most often for acquiring a home in Tallinn (35%), Harju County (17%) and Tartu County (8.8%). The guarantee has been used least often in Hiiumaa (0%) and Põlva County (0.7%).

Housing loan guarantees were mainly used for the purchase of an apartment (83%) and a house (17%); the remainder was used for renovation or construction of living premises.

KredEx has been providing housing loan guarantees since the year 2000, starting from which 24,099 households have upgraded their living conditions with the help of KredEx, out of whom 14,088 are young families, 9922 are young specialists, 62 are tenants living in houses returned to their owners and 27 are veterans.