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

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.