130,000 apply for prenatal baby support credit

Government

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Some 130,000 couples have applied for prenatal baby support loans since the launch of the preferential credit a year and a half ago, Minister for Families Katalin Novák told Hungarian news agency MTI on Sunday.

The government introduced the unsecured, interest-free, general-purpose prenatal baby support loans up to HUF 10 million for families having children in July 2019. The loans are part of a package of family support measures designed to address the problem of depopulation and are available only until the end of 2022.

Novák said about HUF 47 billion in subsidies had gone to support the purchase of vehicles for big families.

Families with three or more children are eligible for up to HUF 2.5 mln for the purchase of vehicles that seat at least seven passengers under the scheme.

Another scheme, in which the state takes over part of the mortgages of families with children, has drawn around 14,000 participants who have reduced their home loan principal by HUF 2 mln on average, Novák said.

More than 18,000 households with children have availed of HUF 155 bln in support from the Home Purchase Subsidy Scheme for Families (CSOK), she added.

Under CSOK, launched in 2015, families with children may apply for up to HUF 10 mln in grant money to put toward the purchase of a home.

Close to 17,000 applications for a combined HUF 88 bln in funding have been submitted for an expanded version of CSOK for residents of villages, Ms Novak said.

Since January, 46,000 mothers of four or more children have availed of an exemption from the personal income tax, she added.

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