BIGBANK, which has up to now focussed on unsecured consumer loans, began to offer a new type of real estate loan, which is targeted at people, who plan to sell their property, but wish to postpone the sale for up to 2 years.

What makes the real estate loan of BIGBANK special, is the fact that the client does not have to make monthly repayments, but is obliged to repay the loan in a single payment at the end of the period. The maturity of the loan is 2 months to 2 years and the interest rate starts from 10 % per year depending on the loan period. The client has also the right to repay the loan at any point in time without additional expenses, paying only the interest calulated up to that point.

According to the Member of the Management Board of BIGBANK, Kaido Saar, it is possible to take a loan for up to 50 % of the current value of real estate, which is located at areas with more active real estate markets. „The new loan is a solution for mainly those people, who wish to sell their real estate, but due to the unfavourable situation on the market, selling the property quickly would require selling it for a price significantly lower than the market price. In that case it is possible to take a real estate loan from BIGBANK today and pay it back in two years, after selling the property successfully," Saar noted.

BIGBANK AS is a specialised credit institution based on Estonian capital, with branches in Latvia and Lithuania and it also offers its products in Finland as a cross-border service. The loan portfolio of BIGBANK amounted to EEK 2.3 billion and the profit to EEK 144.8 million as at the end of 2008.

The bonds of BIGBANK are listed at the Stockholm stock market.