KredEx provided sureties for 409 home loans in first quarter
In the first quarter, banks issued 409 home loans with sureties from KredEx, in the total amount of EUR 24.3 million. Of all home loans issued in Estonia, the volume of home loans issued with sureties from KredEx accounted for 13.9% on average in the first quarter (16.4% in Q1 2014).
As at the end of the first quarter, the value of KredEx’ portfolio of home loan sureties amounted to EUR 34.6 million. In the first quarter, home loan sureties from KredEx were used by 173 young families in the total amount of EUR 1.5 million, 234 young professionals in the total amount of EUR 1.9 million, and 2 veterans in the total amount of EUR 2900.
The amount of loan taken out with a surety from KredEx averaged EUR 59,477 in the first quarter. Home loan sureties have been used most often for purchasing homes in Tallinn (35.1%), Harju County (16.6%), and Tartu (9.8%). Sureties have not been used at all on Hiiumaa, and home loan sureties have been used least in Rapla County (0.2%), Põlva County (0.5%), and on Saaremaa (1.0%).
Home loan sureties were used primarily for purchasing flats (86%) and residential buildings (12%), with the remainder involving the renovation or construction of housing.
KredEx has been issuing home loan sureties since 2000, with 27,229 households – including 16,660 young families, 10,475 young professionals, 70 tenants living in restituted houses, and 24 veterans – having improved their living conditions with assistance from KredEx during this period.