15% of forex mortgage holders opt for early repayment - survey

Initiatives

About 3% of Hungarians with foreign currency-denominated mortgages have decided to avail of a government assistance program that fixes the rate on their loan repayments, while 15% have decided to repay their forex mortgages early under another government scheme, a survey by Századvég shows.

The survey carried out in the middle of October shows 25% of Hungarians with forex mortgages are still undecided.

The government assistance program allows borrowers to repay their forex mortgages at a fixed exchange rate, under the market rate. The difference is accumulated on a separate forint account and must be repaid from the start of 2015.

The other scheme allows early repayment of foreign currency-denominated mortgages in full at a discounted exchange rate.

Two-thirds gave a positive assessment of the assistance program and 54% said the early repayment scheme was good.

32% of the respondents said they are unable and 25% said they were not willing to avail of any of the preferential repayment options.

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.

Support the BBJ

Environment