Erste home loan products certified ʼconsumer-friendlyʼ by MNB
Erste Bank Hungary will start offering home loans certified as "consumer-friendly" by the National Bank of Hungary (MNB) from today, the lenderʼs head of product management said, according to Hungarian new agency MTI.
Erste will offer certified three-, five- and ten-year loans for building and buying homes or refinancing existing credit, said Emese Buocz.
The MNB recently rolled out the consumer-friendly home loan certification to counter high interest margins and a low rate of borrower refinancing. Lenders could apply for the certification from June 1.
In addition to Erste, products offered by FHB Commercial Bank and 50 members of Hungaryʼs integrated savings cooperatives have also been certified.
To become certified, banks must cap their home loan lending margins at 350 bp, origination fees at 0.75% or HUF 150,000, and early repayment fees at 1% or, in the case of repayment from home savings bank accounts, 0%. Lenders must also make potential borrowers an irrevocable loan offer when they inquire at a branch.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Tribe Hotel Budapest Stadium Recognized at LIV Hospitality D...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 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.
