Listen to the audio version of this article (generated by AI).
Listen to the audio version of this article (generated by AI).
Borrowers who do not fulfill a pledge to have a child within five years of taking out the credit face a conversion to market rates and repayment of all interest subsidies in a lump sum.
Köböl noted that the the previous government had extended the repayment moratorium for those borrowers until the end of June.
She added that one-fifth of the 270,000 borrowers who had taken out the subsidised credit over the past seven years had not fulfilled the pledge to have a child.
These 24,700 contracts have a value of HUF 182 billion, she said.
Köböl said the Finance Ministry would draft a “more lenient but legally complaint” framework of conditions for the credit.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
