Hungary to Fix Exchange Rate on Mortgages, End Eviction Ban
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Hungarian banks and the government agreed to temporarily fix exchange rates on foreign-currency household mortgages and to lift a moratorium on evictions, ending months of haggling over plans to relieve borrowers from mounting debt repayments.
Lenders will fix the rate at 180 forint per Swiss franc to eliminate the fluctuation of debt servicing for households, Prime Minister Viktor Orban said at a press conference in Budapest today. Accepting the fixed exchange rate will be voluntary for borrowers, he said.