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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.

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