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Fidesz MP submits bill on early FX mortgage repayments

Fidesz MP Antal Rogán on Friday submitted to Parliament a bill that would give Hungarian borrowers the option to repay early their foreign currency-denominated mortgages at a fixed rate.

Prime Minister Viktor Orbán told MPs in parliament on Monday that the government supports a proposal to allow Hungarians with foreign currency-denominated mortgages the chance to repay their loans in a single installment at a fixed exchange rate that is well under the market rate.

Under the plan, the fixed rate for Swiss franc-based loans -- once the most popular retail lending product in Hungary -- is 180 forints. The rate for euro-denominated loans is 250.