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Households warned not to borrow beyond means

The National Bank of Hungary (NBH) and financial market regulator PSzÁF on Thursday said they had prepared a pamphlet informing households of the risks of borrowing beyond their means that all lenders will be required to present to potential borrowers from June 11.

The pamphlet advises borrowers to consider unexpected events that could affect their ability to make repayments as well as costs in addition to interest, such as exchange rate changes for foreign currency-denominated loans.

The pamphlet can be read on the homepages of the NBH and PSzÁF. (MTI-ECONEWS)