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KredEx guaranteed 524 housing loans in the first quarter

10.05.2016

In the first quarter, banks issued 524 housing loans with KredEx guarantees, totalling EUR 32.5 million. The volume of housing loans granted with a KredEx guarantee accounted for an average of 16.2% (13.6% in Q1 2015) of all housing loans issued in Estonia.

As at the end of the first quarter, the portfolio of KredEx housing loan guarantees totalled EUR 39.7 million. In the first quarter, KredEx guarantees were used by 235 young families, in the amount of EUR 1.9 million; 287 young specialists, in the amount of EUR 2.5 million; and 2 veterans, in the amount of EUR 20,200.

The average loan amount taken out with a KredEx guarantee was EUR 61,965 in the first quarter. Housing loan guarantees have been used most often for acquiring homes in Tallinn (40%), Harju County (15%), and Tartu (9.5%). The guarantee has not been used in Hiiumaa and has been used least often in Põlva County (0.6%), Lääne County (0.7%) and Järva County (0.9%).

Housing loan guarantees were mainly used to purchase apartments (85%) and houses (14%); the remainder were used for the renovation or construction of living premises.

KredEx has been providing housing loan guarantees since 2000, and in the intervening years 25,331 households have upgraded their living conditions with the help of KredEx; of those, 14,795 are young families; 10,824 are young specialists; 62 are lessees living in restituted houses; and 33 are veterans.