About 10-15% of forex borrowers seen to apply for early repayment, says Matolcsy
Government calculations estimate that 10-15% of the borrowers of foreign currency denominated loans would avail of the option of early full repayment at a discounted exchange rate, affecting loans worth a combined HUF 500bn-750bn, National Economy Minister György Matolcsy said in a reply to a question submitted by an MP.
The minister's reply has been published on Parliament's website.
An amendment passed on October 10 extending the scheme to loans disbursed and serviced in foreign currency would not alter the figure significantly, he said.
Matolcsy confirmed that the government is watching closely the new schemes it introduced and will intervene if necessary.
The government will decide whether there is a need to take further measures to save forex borrowers after the exact number of those availing of the early repayment option has become known, the minister said.
He noted that, under a government decision announced on October 12, retail borrowers of home loans with repayment difficulties can receive an interest subsidy for a home loan if they decide to move into a home with lower market value and lower maintenance costs.
The minister noted that forex borrowers have until December 30 to apply for the early repayment option.
ADVERTISEMENT
Alteo Invests HUF 5.5 bln in Energy Storage
Sport Now 'Strategic Sector' for Hungary - Minister
IWG Expands Footprint in Hungary With 2 New Locations
More Guest Nights y.o.y. for Year-end
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.
