150,000 Romanians have asked banks so far to delay their mortgages

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Banks have received so far around 150,000 requests from clients to delay payment of their mortgages.

The Government’s emergency ordinance that allows Romanians to ask for the postponement of their mortgages for the next 9 months has come in force early this week.

Since Monday, when the GEO has been published in the Official Gazette, 150,000 Romanians have filed requests to the bank to have their mortgages suspended, which means 10% of the total bank loans granted in Romania.

Florin Dănescu, the executive president of the Romanian Banks Association, said there were customers who had asked for the delay of their mortgages for a shorter period of time than 9 months.

“Some clients considered a longer delay of the mortgages would load them unnecessarily for the next period”, he said.

Moreover, the bank official revealed there were Romanians who had decided to not ask for a delay anymore after they had seen the new timetable.

Dănescu explained that the delay of the mortgage payment is coming in force from the moment of the request not from the moment of approval, which has a 15-day deadline.

He added the banks’ phone lines are overloaded by the calls, while urging Romanians to also send their applications for delays online, through e-mail.

He added that those who want their mortgages delayed must write an affidavit to argue that they have been directly or indirectly affected by the COVID-19 crisis.

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