Borrowers subscribe to HUF 22 billion in Green Home program loans


Lenders have disbursed around HUF 22 billion in credit under the National Bank of Hungary’s (MNB) Green Home program since the program began on October 4, the central bank said on Tuesday, according to a report by the agency. official press release. MTI wire.

Banks have signed 753 credit agreements by the end of 2021, MNB said. About HUF 12 billion of the credit was disbursed for single-family homes and land, while HUF 6 billion was for housing in multi-residential buildings and HUF 3 billion was for the purchase of duplexes.

About half of the credit was for homes that owners build themselves.

The average loan size was HUF 28.6 million and the average term was 20.6 years.

As part of the Green Home Program, the central bank refinances at 0% lenders for loans to individuals for new housing with a primary energy consumption threshold of 90 kWh / m² per year. Interest rates on loans are capped at 2.5%.

The average interest rate on a home loan – excluding variable rate loans fixed for periods of one year or less – was 4.26 pc in November, according to the latest data from the BNH.

The Green Home Program credit is limited to borrowers who plan to reside in the homes they purchase, excluding real estate investors.

The initial allocation for the program was set at HUF 200 billion, but NBH deputy governor Mihaly Patai said earlier there was a “very good chance” that central bank policymakers would continue. the program if this amount is used.

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