There may be banks that will offer the subsidized housing loans of the csok plus construction at an interest rate lower than 3 percent, after the interest rate will not be a fixed 3 percent, but a maximum of 3 percent according to the detailed rules to be negotiated.

Even the 3 percent interest rate is very favorable in the current market environment, but Levente Korponai, head of money.hu, called the lower interest rate almost unprecedented.

He also drew attention to the fact that the interest subsidy is financed by the state up to the 3 percent interest rate, if the banks were to provide loans cheaper than that, they would have to manage it themselves.

The banking competition for high-income customers can also be fierce because the state would also maximize the start-up costs of the subsidized loan by HUF 300,000. In addition, they could only charge the fee for the valuation and the on-site inspection. However, according to Levente Korponai, the competition from the banks may increase, as market-based lending continues to falter, so the Csoc Plus can be the banks' "miracle weapon for acquiring customers".

In the new housing subsidy program starting next year, those entitled to it can apply for a HUF 15-50 million housing loan, depending on the number of children.

According to the draft legislation submitted for social consultation, the conditions related to the minimum floor area of ​​the property are the same as the COS rules in force since 2016. The minimum floor area of ​​condominium apartments - depending on the number of children - must be 40-60 square meters, and that of single-family houses 70-90 square meters.

László Balogh, the leading economic expert of ingtalan.com, also drew attention to the fact that

there is no limit to the maximum floor area of ​​homes with Csoc Plus,

but the purchase price of the purchased property cannot exceed HUF 150 million, and in the case of a first shared home, HUF 80 million. Based on the data of ingtalan.com, almost 80 percent of the apartments and houses for sale meet the conditions, so buyers with Csok plus can currently choose their next home from more than 120,000 residential properties for sale.

In the analysis, they also pointed out that families moving on with Csoc Plus do not have to sell their existing property, but the value of their next home must be higher.

Former social security applicants can also take advantage of the extra social security option, but only if they have repaid the interest-subsidized loan applied for previously and the amount of social security for a child who has not yet been born.

MTI

Cover image: Even the 3 percent interest rate is very favorable in the current market environment
Source: kormany.hu