Fidesz-KDNP MPs propose easing mortgage loans repayment

MNB

Parliamentary groups of governing alliance Fidesz-KDNP propose that the government allow Hungarians with foreign currency-denominated home mortgages to pay off their debt in a single installment at a fixed exchange rate and leave banks to cover the full cost of the transaction, Fidesz parliamentary group leader János Lázár said at a meeting of the groups on Friday.

The groups propose the fixed exchange rates be set at HUF 180 for Swiss franc-based loans and at HUF 250 for euro-based ones, Lázár said.

The rates are well under the market rates of HUF 230.4 to the franc and HUF 280 to the euro around noon on Friday.

The groups also propose allowing the repayment in a single installment to borrowers whose contracts with lenders have been broken for a period of three months, Lázár said.

János Müller, chief advisor for the Hungarian Banking Association, told MTI after Lázár made the comment that the Fidesz-KDNP parliamentary groups had not consulted with the professional association on the proposal.

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