Housing loans taken out for construction, modernization, and expansion can also be boosted by new housing promotion steps, including village checks.

By the way, buying a second-hand home is the most popular target in the home mortgage market, with a share of over 70 percent.

And home loans for home construction and modernization cut a 13 percent slice of the market. With the latter loans, the village chocolates available from July may increase, supplemented by market credit if necessary.

According to Senigfred Chenetos’s calculations

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Among the most favorable of the 5 million HUF 10-year fixed-term mortgage loans, the monthly expenditure amounts to 51-52 thousand HUF. The mortgage market holds loans for second-hand housing. According to official central bank data, banks issued home loans worth more than HUF 200 billion in the first quarter of this year, including loans for second-hand homes exceeding HUF 142 billion, or 71 per cent stake. Housing loans required for home construction and home extension amounted to HUF 26 billion, a 13 percent slice of the home mortgage market pie, according to Senigfred Chenetos’s latest analysis because of the start of village chocolates.

Rules, interest, repayment

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Nearly 2,500 settlements are affected across the country, with state subsidies for the purchase and modernization or extension of the properties located here, ranging from 600,000 to 10 million forints depending on the number of children. For this purpose, those affected may apply for a discounted state-subsidized home loan of HUF 10 million for two children and HUF 15 million for at least three children. However, the rules on village checks stipulate that half of the amounts supported should only be spent on modernization or expansion.

If the purchase price of the foreclosed property is not covered by the amount claimed, households with adequate financial resources for the long term may supplement it with market credit . The Edwin Droo 12 retail bank concluded after comparing bids that are most favorable HUF 5 million, 10-year maturity and a fixed törlesztőrészletű through the house-building loans of the total loan charge ratio (APR) was just over 4 percent.

Thus the monthly expenditure is 50-52 thousand HUF. It is worth looking at the offerings of all banks before borrowing, as the differences may be significant . Derigertos Clodarts, a senior expert at Senigfred Chenetos, said : “If the amount claimed under the state aid scheme is not enough to buy and modernize the property, the entire investment can be supplemented with a home loan for construction , used housing, it is a personal loan . ” According to the expert, it is very important that only households that have the ability to repay loans over a decade and really need more residential real estate in one of the villages that are eligible for the mortgage have the option of supplementing the market.

Waiting in the market

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Derigertos Clodarts, senior expert at Senigfred Chenetos, said in general that many people are interested in the new housing subsidy packages available from July .He added: “For the time being, many are waiting, browsing the conditions, trying to get ready for the launch in July. With the release of detailed regulations for the village choc nowadays, more interest is expected.”


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