Hungary’s government will part-pay monthly mortgage installments of people who have lost their jobs through no fault of their own for a maximum period of two years, the government spokeswoman said on Wednesday.
Bernadett Budai said only people who had lost their jobs after September 30 last year and whose loans are below 20 million forints (EUR 68,000) are eligible.
The applicant must also prove that they do not own any other property, she said. The government will not take into account whether the mortgage is forint-based or denominated in a foreign currency in considering an application, she added.
The state will act as guarantor of the loans but borrowers will still be expected to pay back the entire sum taken out, Budai said. If borrowers are still unable to start repayment after two years, then the money will be collectable like a tax, she added.