Takarékbank clients ask for HUF 5 bln under Green Home Program

Banking

Clients of Takarékbank have submitted applications for HUF 5 billion of mortgage loans in the framework of the Green Home Program of the National Bank of Hungary (MNB) launched at the beginning of October, the lender said, according to telex.hu.

Takarékbank said clients had submitted 450 applications for the credit. Under the program, the central bank provides 0% refinancing to lenders for retail loans for new homes with a primary energy consumption threshold of 90 kWh/sqm per year. Interest rates on the loans are capped at 2.5%.

The average interest rate for a new home loan, excluding loans with floating rates set for periods of one year or less, stood at 4.13% in June, according to the latest MNB data.

The Green Home Program credit is limited to borrowers who plan to reside in the homes they purchase, excluding property investors.

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