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More than 54,500 borrowers repay FX mortgages in first two months of scheme

Fresh data published by financial market regulator PSZAF show that 54,563 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 November.

The repayments came to HUF 248.4bn at the scheme’s discounted exchange rate and HUF 338.9bn at current exchange rates. Banks must cover the difference between the two rates.

Banks signed 3,809 forint loan contracts for a combined HUF 18.3bn with clients who used the credit to repay their forex loans.

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