There is a huge rush for home renovation loans, the amount of subsidies disbursed for this may probably exceed HUF 100 billion this year. Bankmonitor's expert talked about some important details: how long does it take for someone to get a loan, and how much is the average installment.
Family Affairs Minister Katalin Novák announced on Facebook last November the details of the home renovation subsidy available for used apartments from January 1, 2021. A family can use the support once, single and divorced parents can also receive it, but it is very important that they have at least one child under the age of 25 living in the household.
The home renovation loan is a loan of a maximum of 6 million forints, a maximum term of 10 years, and a maximum interest rate of 3 percent, which can be applied for at financial institutions.
József Argyelán, Bankmonitor's expert, talked about some important details in M1's Ma reglegg program
- There is a lot of interest in the home renovation loan, which can be obtained not only from nine financial institutions, but also from credit brokers, he said.
According to some experts, the amount of loans disbursed this year may reach HUF 100 billion. The question arises as to how long it takes for someone to receive the loan.
The expert said: of course, certificates must be obtained, so for example a 1-year social security relationship is required to apply for a loan, which can be requested at the government offices, but can also be done through the customer portal. The administrative deadline can be 1-2 weeks.
It takes approximately 4-6 weeks for applicants to receive the loan.
József Argyalán also talked about: since it is a mortgage loan, you have to take into account, for example, the mortgage registration fee and the real estate appraiser's fee. However, several banks refund, for example, the appraiser's fee, so customers should inquire with several banks and use comparative calculators to select the financial institution that is beneficial to them.
According to the expert, those interested take out an average loan of HUF 5.5 million. for an average term of 8.8 years.
In this case, the initial monthly installment is HUF 50,000 - said József Argyelán.
Most of them use the support for energy modernization, such as the replacement of the heating system or windows, or the replacement of indoor coverings.
source: M1 / hirado.hu
Cover image: illustration / MTI Photo: Sándor Ujvári
