"We have set a ceiling"/ Sejko: The loan that citizens can take to buy a house is limited

The Bank of Albania has limited the credit that citizens can take out to buy a house.

Governor Gent Sejko said that they have set a ceiling for the loan that citizens will receive to buy a house.

According to Sejko, the maximum loan in lek will be 85% for the first home and 80% for the second home. In foreign currency, the loan value will be 75% for the first home and 70% for the second home.

"We set a ceiling for the loan that citizens will receive to buy a house. We have set a ceiling for the loan installment. The maximum loan in lek will be 85% for the first house and 80% for the second house. In foreign currency, the loan value will be 75% for the first house and 70% for the second house.

It is lower to avoid exchange rate risk. The installment to income ratio will be at the level of 40% for the lek currency and 35% for the foreign currency currency.

While for the second home, the ratio will be the loan installment no more than 35% of total income and for the foreign currency loan as much as 30% of total income,' declared Governor Gent Sejko./ CNA

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