Government submits bill on mortgage rules
The Hungarian government submitted a bill to Parliament late yesterday that would fine-tune rules on mortgage rights to keep interest rates low and expand the opportunity for retail investment, Hungarian news agency MTI reported.
The amendments to Hungaryʼs civil law would replace “separated mortgage rights” with the previously used “independent mortgage rights”, MTI said.
“The independent mortgage right – through home market lending – can contribute to keeping interest rates low. Additionally, the use of independent mortgages is very advantageous in that it can broaden secure retail investment and savings opportunities,” reads the text of the bill, according to MTI.
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