Bigbank: July was the best home loan month of the year, contracts and amounts grew rapidly

In July, 38% more home loan contracts were concluded compared to the previous month, and the average loan amount of new contracts reached 119,500 euros, according to Bigbank's home loan portfolio analysis.

"From Bigbank's perspective, July was the most successful month of the year for homebuyers reaching transactions, with nearly twice as many contracts concluded compared to January," commented Jonna Pechter, Head of Bigbank Estonia, who noted that the number of new loan applications also grew by 27%. "Such growth allows us to predict that homebuyers will remain relatively active throughout the summer, and the number of transactions may increase further once the holiday period ends," commented Jonna Pechter, Head of Bigbank Estonia.

Pechter also confirmed that home loan interest rates have remained essentially at the same level in recent months. "In parallel with the growth of Euribor, banks have lowered their lending margins, which is why the overall lending rate has not changed," confirmed Pechter.

Bigbank AS (www.bigbank.ee) is an Estonian capital-based bank focused on loans and deposits for private and business clients, which in addition to operating in Estonia has branches in Finland, Sweden, Latvia, Lithuania, and Bulgaria, and offers its products across borders as a service in Austria, Germany, and the Netherlands. Bigbank's balance sheet total exceeds 1.9 billion euros.