MNB: Half of non-performing mortgage loans could be restructured
Hungarian lenders could restructure the mortgage loans of half of the 130,000 Hungarians who have fallen three months or more behind on repayments, but this would require banks to be more proactive, as well as the cooperation of borrowers, National Bank of Hungary (MNB) managing director Barnabás Virág told journalists on Friday, according to Hungarian news agency MTI.
The MNB calculated that the average monthly repayment on non-performing mortgage loans is HUF 82,800, while the average borrower earns just HUF 109,300 a month, Virág said.
Between 65,000 and 72,000 of the troubled borrowersʼ loans could be restructured, he said.
The average size of a non-performing mortgage loan is HUF 9 million, including a HUF 7.9 mln principal. The average market value of collateral on such a loan is just HUF 10.3 mln.
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