Today, more and more people are buying real estate. This is probably not due to high property prices, but to low mortgage rates, which have never been as low as they are today. In contrast, house prices have skyrocketed. We find the most expensive real estate in Budapest and its catchment areas, as well as in larger cities. Few people can buy real estate for cash, and most people need credit for it.
Since the launch of Consumer Friendly Home Loans it can be said to have enjoyed great popularity. This is because it can be borrowed at favorable terms and interest rates. According to surveys, 40% of home loans taken out have been Consumer-Friendly Home Loans since its launch. These loans have a fixed interest rate of at least 3 years.
Key Features of Consumer Friendly Home Loans:
- it is only annuity repayment, ie the debtor pays equal installments within a given interest period
- the interest period is at least 3 years (3, 5 or 10 years) or the interest rate is fixed until the end of the term
- the interest rate premium must not be higher than 3,5% relative to the reference rate used for determining the interest rate of the loan
- the disbursement fee may not exceed 0.75% of the loan amount, but not more than HUF 150 thousand
- the prepayment fee may not be higher than 1%, but in the case of a home savings bank prepayment, the prepayment is free of charge
- the credit assessment deadline may be up to 15 business days from the availability of the valuation
- the disbursement deadline may be 2 business days after the disbursement conditions have been met
When it comes to borrowing a home loan, the purpose of the loan is very important, whether you are buying new or used real estate, buying at all, or rather building, etc. There are home goals that you can only achieve with Consumer Friendly Home Loans.
In the case of Consumer Friendly Home Loans,
You will find the greatest offer on 5 to 10 year term loans. The interest rate on these home loans is very favorable at 3.49 – 4.59%.
Unfortunately, there is no guarantee that home loan interest rates will remain so low in the future, so it is better to choose from fixed rate loans because whoever chooses a variable rate loan may lose out because of rising interest rates. From this point of view, it is worth choosing consumer-friendly home loans.
You do not necessarily have to stay with the account holding bank when taking out a home loan, because another credit institution may have better terms and conditions, and it is much better worth borrowing there. What is very important is to look carefully at the banks before choosing a loan. You can do this in person by going through the branches, but you can save a lot of time by checking out our credit calculator, for example. Choose from several banks. Registration is free, with no obligation.
You have to be very careful when choosing a home loan, there are many aspects to keep in mind. For example, many banks release some or all of their start-up costs as part of promotions. You have to be careful with this too. We know that the initial cost of borrowing a home loan is not cheap, but just because of such an action, do not vote for a bank, as it may be bad for you in the long run. Another thing to note here is that if you are going to redeem a home loan later, you should choose a bank that you do not lose from the initial benefits, as you may have to pay back your loan to another bank.