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Over 10,000 apply for expanded home subsidies

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Hungarian lenders have received more than 10,000 applications for preferential credit, grants and VAT refunds available under the governmentʼs expanded home subsidies program, shows a survey published today by Hungarian news agency MTI.

OTP Bank has so far received 5,147 applications for grants, 784 for credit and 43 for VAT refunds under the scheme, Hungaryʼs biggest commercial lender told MTI. About 70% of applicants want to build new homes, some 23% aim to buy new homes, and 5% want to buy resale homes. A little more than 2% plan home extensions. 

Takarékbank has received 1,977 applications for grants, as well as 369 for credit and a grant package available to families with three or more children. It has received 297 applications for VAT refunds. Clients supplement subsidies with a loan of about HUF 6 million on average, Takarékbank said. Almost 24% of applicants want to build or buy new homes, while 71% want to buy resale homes, it added.

K&H Bank has received 1,700 applications for combined support of HUF 4.2 bln, as well as VAT refunds of HUF 900 mln under the scheme. Applicants have paired the subsidies with a total of some HUF 8.8 bln in loans. About 65% want to buy resale homes.

Budapest Bank receives "several dozen applications a week" under the scheme, the lender said.

UniCredit Bank said it had received almost 1,000 applications for the subsidies, credit and VAT refunds. Most want to use the support to buy resale homes, it added.

The number of applications at MKB Bank has reached 400 so far, the MTI survey added.

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