SEB bank to offer state-guaranteed mortgage loans for families with children

SEB in Latvia was awarded with the status of a family-friendly entrepreneur. This status is given by the Ministry of Welfare of Latvia and it demonstrates that the policies and services of the company are friendly to staff, children and families.

SEB bank and Latvian development financial institution ALTUM have signed an agreement on bank's participation in the state support programme for home purchase for families with children, which is coordinated by ALTUM. Accordingly, starting from March 11, families with children have an opportunity to receive mortgages with more accessible conditions for the first down-payment.

Main purpose of the state support programme is to reduce the required amount of first down-payment in purchasing a family home. Families with one child can receive a state guarantee on 10% of the mortgage sum (up to EUR 10 000). Families with two children can receive a state guarantee on 15% of the mortgage (up to EUR 15 000) and state guarantee on 20% (up to EUR 20 000) is available for families with three or more children.

Ainārs Ozols, CEO of SEB Latvia: "Insufficient level of savings still is the main obstacle for families with children to purchase their own home. In this regard we welcome all and any support instruments that help families to overcome this obstacle. Moreover, the current regulation in mortgage lending area once again permits us to move towards achieving the purposes of the program while maintaining a responsible approach to lending, and we see that client's interest in purchasing a home for their family is increasing. Therefore in order to support our clients, we are ready to give our input in achieving the goals of the state support programme."

Rolands Paņko, Chairman of Altum: "We are glad to see SEB bank joining the mortgage guarantee state support programme. The fact that another major bank joins the programme will increase its availability for clients and help to reduce the market gaps of financing availability for families with children. We have designed the guarantee granting process to be as simple as possible both for clients and banks. Client can settle all formalities for the guarantee at the bank, the application is then transferred to ALTUM and it takes no more than five days to receive our answer".

Clients can apply for a consultation on the opportunity to receive a state-guaranteed mortgage within the state support programme for families with children by contacting SEB bank's Client centre via telephone +371 26668777 or by visiting any of SEB bank's branches.