Govt could change early FX repayment scheme if banks’ conduct requires it

Governing Fidesz will propose new amendments to legislation on a government scheme allowing early full repayment of foreign currency-denominated mortgages at a discounted exchange rate if banks’ conduct makes it necessary, Fidesz MP Antal Rogán said at a press conference on Friday.

If the legislation has to be clarified, the amendments could be submitted to Parliament at the plenary session on November 3, Rogán said.

The government does not want to change the year-end deadline for indicating participation in the scheme, he stressed.

Rogán said he thought banks were in collusion in finding loopholes to prevent borrowers from availing of the early repayment scheme.

Borrowers must apply for the scheme by the end of 2011. They must complete the repayment within 60 days after submission of the application.

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