Hungary’s parliament on Monday evening gave the green light to the ruling Fidesz party’s scheme to offer holders of foreign currency-denominated mortgages the option to pay off their loans at preferential rates.
The bill, submitted by Fidesz MP Antal Rogan, was passed into law with 277 votes for, 9 against, while 30 deputies abstained from voting.
The motion was supported by deputies of Fidesz and of radical nationalist Jobbik. The green opposition LMP voted against and the Socialists abstained.
Under the new law, troubled borrowers can make a full repayment at 180 forints to the Swiss franc, 250 forints to the euro and 2 forints to the Japanese yen, unless the rate of the forint was not higher at the time of taking out the loan. The law also gives borrowers the deadline of December 30 this year to indicate their participation in the programme.