The ban on foreign currency-denominated lending is to be lifted on July 1 according to legislation that aims to assist Hungarians with foreign currency-denominated mortgage loans, approved by the Parliament in June.
The moratorium on foreclosures and evictions will remain in place between July 1 and October 1, 2011, but it will no longer apply to property that was valued at more than HUF 30m at the time of the signing of the loan and on which debt outstanding exceeds HUF 20 million.
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