After repayment of consumer loans, repayment installments will decrease by 25 percent on average, but there will be a wide variation, with 99 percent of customers reducing their repayment installments, said Levente Kovács, general secretary of the Hungarian Banking Association in a joint press conference in Budapest .
He emphasized that during the settlement the reduction of the load is proportional to the increase of the load of the last 6 years.
Will now receive a larger than average 25-40 percent reduction. However, those with less than average repayment installments are expected to reduce their payload by 5-25 percent.
Those who have previously taken the advice of the government and the banking union, entered the exchange rate barrier and paid steadily and properly will be the best performers.
Vilmos Freisleben, Director of Consumer Protection at the National Bank of Hungary, drew attention to the fact that the MNB continuously monitors the settlement process and informs the clients concerned.
András Becsei, vice president of the Hungarian Banking Association, said that from January 1, regulations will be introduced to calculate the installments of income-proportional installments and from the same month they will calculate the installments at a fixed rate. The fair banking law and clearing will come into effect on the 1st of February next year, and this date will be the turning date for forint conversion as well.
Customers receive proof of settlement from March 1 to the end of April, after which they have 30 days to indicate whether they qualify for forint conversion. The deadline for conversion to forint is May 1, 2015.
For forint loans, the cut-off date is June 30, in which case customers receive the information in the summer, while interest rates change from October.
András Becsei emphasized that this can happen in three ways
accounting. By default, the outstanding principal is reduced, the settlement amount is repaid in the case of already terminated loan agreements, and in the case of defaulting debtors, the default amount is first deducted from the money to be repaid.
It can be settled and converted into forints. If the claim is already with a claim manager, you should seek settlement from the claim manager. The Banking Association continues to advocate doubling the National Asset Manager quota for foreign currency borrowers for whom settlement and forint conversion will no longer help them return to their “normal” paying credit.
It was stated in the prospectus that the installment payment due in January will be fixed for exchange rate clients and that amount will remain until the end of the original exchange rate barrier. Any surplus will continue to be credited to the bank account and will be “returned” to the capital account after 60 months. At this point, the installment that accrues will not be higher than 115 percent of the original repayment – if that is not the case, the maturity will be extended (MTI).