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Czech banks see tighter mortgage conditions in Q4 -lending survey
October 17, 2016 / 8:21 AM / a year ago

Czech banks see tighter mortgage conditions in Q4 -lending survey

PRAGUE, Oct 17 (Reuters) - Czech banks expect tightening of lending standards for mortgages in the fourth quarter due to a new consumer credit act coming into effect and tougher recommendations on loan limits from the central bank, the bank said in its lending survey on Monday.

Some banks also expect consumer credit loan standards to tighten while conditions for company loans to ease, the survey said. Banks widely expect increasing demand for loans in the fourth quarter, it said.

Record low interest rates are helping a mortgage boom in the Czech Republic, driving up housing prices. The central bank tightened its recommendations to banks this month to lend no more than 95 percent of a property’s purchase price. (Reporting by Jason Hovet; Editing by Toby Chopra)

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