Since the beginning of the year, the state has been encouraging domestic banks to allow citizens access to real estate through so-called consumer-friendly, ie easier to pay and ‘turnkey’ home loans. Read more at http://smi-loan.com

Then are domestic loans not good enough?

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On the one hand, the current deals are very friendly, as interest rates are on the floor and repayers are much lower than at any time in recent years.

On the other hand, banks would have the opportunity to allow them to borrow at an even lower APR, which is now so favorable for the financial climate. The MNB points to cheaper loans available in several EU countries than examples to follow.

Easy to access, pick up and pay

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In May, specific points were made public on what housing loans are considered sufficiently consumer-friendly by the state. It classifies those that include, but are not limited to:

  • Forint-based mortgages, which can be used for many purposes
  • The minimum interest period is 3 years
  • The interest margin may not exceed 3.5%
  • Every year, the debtor is made aware of the possibility of full or partial early repayment
  • Within 15 business days, the credit assessment must be completed after the valuation is available

There are still many conditions to ensure the customer’s comfort, but obviously THM is not maximized . True, the interest rate premium that is involved in setting the borrowing rate is fixed, so consumer-friendly credit cannot be quick and easy, but expensive.

When are new home loans expected?

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Good Finance Bank has already indicated that they want to come up with consumer-friendly products first, and no one else is interested in falling behind. Banks are essentially submitting new loans to the MNB as part of their tender, and they may already do so in June, and then customers can meet them.

We will be sure to look for these offers in September. They will run under the name of a qualified consumer-friendly loan , so finding them will not be difficult.

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