- 12 Jun 2018 9:01 AM
- Hungary Matters
Among measures on the lending market the NBH noted in the Consumer Protection Report was the roll-out last year of Certified Consumer-Friendly Home Loans which aim to counter high interest margins and a low rate of borrower refinancing.
Certification of products requires banks to cap their home loan lending margins at 350bp, origination fees at 0.75% or 150,000 forints (EUR 480), and early repayment fees at 1% or, in the case of repayment from home savings bank accounts, 0%.
Lenders must also make potential borrowers an irrevocable loan offer when they inquire at a branch.
MTI Photo: Jászai Csaba