You can expect such a large fee if the Matolcsy 0% mortgage loan becomes a reality

Would you rather request a home loan now? Use the Money Center calculator!

Will it be available for every new apartment?

Starting in 2021, energy efficiency regulations for new homes will be further toughened, so it can be said that virtually all new homes and mortgage loans obtained for new homes will be considered green. Therefore, the loan obtained on György Matolcsy’s idea will probably be available for all newly built flats, which accounted for almost a fifth of Hungarian mortgage loans in recent years (i.e. a much higher proportion of loans mortgages went to used flats).

Before moving on to quotas, the main elements of the program are:

• It would only support green home building with a 0% loan that home builders and buyers could get.
• In addition to families, the construction would also offer resources to real estate developers, with roofs.
• It could have a ten-year maturity, so it would not yet burden the central bank’s balance sheet in the long term.
• The total need for funds could be divided between the central bank and one’s own, family, friends, other banking sources and government subsidies (how, I don’t know).
• During the evaluation process, the prequalification of financial system participants can be used, whereby the central bank can pay a fee.
• State grants (like CSOK in Hungary), savings and other financial sources are taken into account in the credit assessment.
• The prequalification of financial service providers cannot take more than 5 days, the decision of the central bank within 5 hours, and the money transfer cannot take more than 5 seconds.
• The effective use of customer data requires complete and reliable credit information systems.
• The central bank source would provide an insurance contract instead of a mortgage.

With all this, he said, between 30 and 40 thousand new homes could be created, strong support for demographic change, a surplus of 1 percent in GDP growth per year, between 40 and 50 thousand new full jobs.