OTP: Interest strong for new homebuyersʼ subsidy

Telco

Photo by Jessica Fejos

Clients of OTP Bank, Hungaryʼs largest commercial lender, have so far submitted more than 2,500 applications for the stateʼs new home loan subsidy, deputy-CEO Antal Kovács told Hungarian news agency MTI.

(Photo: Jessica Fejos)

More than 800 clients have already received the subsidy, known by its Hungarian acronym "CSOK", Kovács said.

He noted that the government had already raised the CSOK allocation after interest exceeded the originally targeted 4,000 applications for the year. Now the government expects 10,000-11,000 applications, he added.

Hungarians are eligible for between HUF 500,000 and HUF 3.25 mln in CSOK subsidies for home purchases and expansions, depending on the number of children in their households.

OTPʼs mortgage outlays were up 25%, at about HUF 40 bln, in the first half from the same period a year earlier.

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