Bloomberg News

Orban Says 87,000 Hungarians Repaid FX Mortgage in Lump Sum

December 30, 2011

Dec. 30 (Bloomberg) -- Hungarian Prime Minister Viktor Orban said 87,000 borrowers have so far repaid their foreign- currency mortgage in a lump sum at below market prices and another 178,000 have indicated they want to do so.

The statistics are as of Dec. 23, Orban said in an interview on MR1 radio today. Orban urged all state employees to tell their banks by the Dec. 31 deadline that they want to repay foreign currency mortgages ahead of schedule.

Hungary is forcing banks to swallow exchange rate losses on foreign currency mortgages as long as borrowers indicate by Dec. 31 that they want to repay them in a lump sum.

To contact the editor responsible for this story: Zoltan Simon at zsimon@bloomberg.net


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