One year after the launch of the "Youth Couples Mortgage", Ubi Banca has disbursed over 900 mortgages for young people under 39 with an atypical or fixed-term employment contract, for a total value of over 100 million euro. This is the first mortgage in Italy in this category, made possible by the solidity of the Group and its ability to understand the changed socio-economic context and to adapt its offer accordingly.
In fact, the launch of the new mortgage has certainly stimulated and supported the request for credit from the youngest: in fact, 51% of the Bank's mortgage applicants are under 40. Furthermore, within a market that has been characterized by long and decisive decline, UBI Banca stood out for its very positive results as early as the second half of 2013: the demand for mortgages grew by 16% compared to the first half, and the volumes disbursed increased by 24% again compared to the previous six months . All in a market that has presented single-digit increases. In the first quarter of 2014, the positive trend continued with disbursements recording an increase of 43% compared to the same period last year, doubling the +20%* recorded by the system.
“UBI Banca launched the mortgage dedicated to young people at a time when the credit market was experiencing a sharp decline, and the mortgages disbursed in particular were down by 8%”, comments Rossella Leidi, Chief Business Officer of UBI Banca. "The launch of the new loan and the results obtained are the concrete demonstration that UBI Banca has kept its promise to give credit and support the projects of the youngest".
From a geographical point of view, the regions that have benefited most from this loan, in line with the traditional territorial presence of the Bank, are Lombardy (with over 560 mortgages for a value of over 75 million euro), followed by Emilia Romagna (79 mortgages for over 10 million) and Veneto (75 mortgages for over 9 million). Piedmont and Lazio also had positive results, registering 44 and 41 loans respectively.
UBI Banca's “2013 young couple home loan” is characterized by a maximum ratio between the installment and income of 35% and a Loan To Value (“ratio between the mortgage and the value of the property”) which can cover up to 80 % of the property value. The maximum amount payable is 500.000 euros.
