Citadele Bank

Family in Rīga Receives First State-Guaranteed Mortgage Loan

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The Citadele Bank signed its first Latvian state-guaranteed mortgage loan agreement today, February 9, with the Bērziņš family from Rīga. The family will use the loan to purchase a 75 m2 three-room flat in a new building. At a news conference about this event today, we congratulated our new clients and presented them to the many media representatives who were there.

The family has one son, an father Aigars Bērziņš says that right now the family lives in a small two-room flat in the Purvciems neighbourhood. The new flat is much larger and has three rooms. The price is EUR 52,600. The bank looked at the client’s purchasing power and approved financing of EU 39,516, or EUR 3,952 more than would be the case without the state guarantee. The family had to make a down payment of EUR 13,084, and the state guarantee was the aforementioned EUR 3,952. The 20-year loan means a monthly payment of EUR 270 for the family.

Aigars says that the family had long since been thinking about a new home and had saved up money for the down payment. “Because the state guarantee is equal to nearly EUR 4,000, we’ll have more money to repair and improve the new flat,” he says.

Aigars and wife Janīna work, and the father of the family laughs in saying that son Aleksandrs also contributes to the family budget because the family receives state support for him. Aigars is the technical director of an automobile repair shop, while Janīna works at the “Grindeks” pharmaceutical company.

The family hopes to move to its new home in April. The director of the Citadele Retail Lending Division, Baiba Tētiņa, presented the family with a large television set, while young Aleksandrs received his own LEGO home.

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