More than 94,000 borrowers repay FX mortgages in first three months of scheme

MNB

Fresh data published by financial market regulator PSZAF show that 94,337 borrowers availed of an early forex mortgage repayment scheme at discounted exchange rates between September 29, when the scheme was launched, and the end of December, the deadline for declaring intent to participate.

The repayments came to HUF 468.0bn at the scheme’s discounted exchange rate and HUF 642.1bn at current exchange rates. Banks must cover the difference between the two rates.

Banks signed 16,865 forint loan contracts for a combined HUF 88.5bn with clients who used the credit to repay their forex loans during the period.

Borrowers had to apply to join the scheme by the end of 2011. They must complete repayment, in full, within 60 days after submission of the application.

Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti... Figures

Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...

Gov't Considering Fuel Price Intervention Government

Gov't Considering Fuel Price Intervention

Uber to Return to Hungary at Beginning of Summer Transport

Uber to Return to Hungary at Beginning of Summer

Time Out Market to Open in Budapest Next Year Food

Time Out Market to Open in Budapest Next Year

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.