Rogán: FX debt burdens to drop by 1/4
Even without converting foreign-currency debt into forints, the average forex debt burden is likely to decline by a quarter, thanks to court rulings based on new FX-loan legislation, Antal Rogán, ruling Fidesz’s group leader, said yesterday.
In an interview on public television, Rogán said that, for a mortgage of HUF 6.5 mln taken out in Swiss francs in 2007, the value of the rate spread – the margin charged by the bank based on the exchange rate – would amount to HUF 323,000 (€1,030). He said the legal changes would mean banks would have to refund that money to borrowers. In the case of a unilaterally changed contract that is ruled unlawful, the law could save borrowers of such a loan as much as HUF 835,000, he added.
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