Hungarian Debtors Shy From Fixed-Rate Repayment
- 30 Nov 2012 8:00 AM
The number of foreign-currency mortgage debtors joining the fixed-rate repayment scheme was 15,552 in October, the financial supervisory Pszáf has announced. The scheme allows debtors to temporarily fix loan repayments at a rate of Ft 180 to the Swiss franc, or Ft 250 to the euro, while the difference between the actual and fixed exchange rates would accumulate in an accrual account to be repaid with interest by 2017.
There were 78,610 accrual accounts by the end of October, Pszáf said. Overall, the rate of eligible debtors participating in the scheme was 21%, well below the anticipated 70%. The temporary savings achieved by debtors from paying at lower exchange rates was Ft 2.4 billion.
The same amounts were registered on the accrual accounts, confirms Napi Gazdaság. Mortgage debtors have until December 31 to join the scheme.
Source: Hungary Around the Clock
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