Hungary's Gov’t May Mandate FX Mortgage Solution
- 5 Aug 2013 8:00 AM
The government will present its own proposal on foreign-currency mortgages to Parliament if it does not reach an agreement with the banks in the autumn, Economy Minister Mihály Varga said yesterday. One day after meeting with bank leaders, he said on TV2 on Kossuth Radio and in an interview with Magyar Hírlap that a solution must enable the conversion of foreign-currency loans into forint-based loans.
Echoing the prime minister’s terminology, Varga said the government had decided to phase out foreign-currency mortgage loans because they are defective products.
A solution needs to be found to try to fix the interest-rate levels as well as the exchange rate levels, he told Kossuth Radio.
Source: Hungary Around the Clock
This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.
LATEST NEWS IN property