An association of borrowers disappointed with their chances of joining a government scheme allowing full early repayment of foreign currency-denominated mortgages at a discounted exchange rate will take their case to National Economy Minister György Matolcsy on Monday, the association’s founder told MTI.

The association, dubbed Hiteltársulás, wants the state to establish a new bank whose shares could be floated on the stock exchange, György Doubravszky told MTI early Monday. Banks are not offering borrowers forint loans with favorable conditions, thus many are not able to avail of the government’s early repayment scheme, he explained.

Doubravszky said he would be satisfied with the results of the meeting with Mr Matolcsy if an agreement were to be reached in principle on finding a solution, with the help of experts, to assist forex borrowers.

Hiteltársulás was launched as a civil initiative on October 7. Since then, it has drawn more than 14,000 borrowers with HUF 171bn in loans to their cause.