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EU mortgage proposal should benefit Slovaks

A EUROPEAN Union working commission has proposed that mortgage loans be fully accessible to all its citizens anywhere within its borders.

This should benefit Slovak citizens who at present find it very difficult to take advantage of the lower interest rates offered by foreign banks, according to the daily SME.

The only foreign bank that is prepared to grant mortgages to Slovaks is Austria’s Erste Bank, and even it would far prefer that Slovaks use a Slovak bank.

One of the main criteria for receiving a mortgage from a foreign bank is a permanent address abroad or at least a permanent job.

Compiled by Magdalena MacLeod from press reports
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