Latest news with #HomeStartProgramme
Budapest Times
24-07-2025
- Business
- Budapest Times
Government publishes draft decree on Home Start Programme
The Hungarian government has published a draft decree on the Home Start Programme, a subsidised credit scheme for first-time home buyers. The Prime Minister's Office said in a statement that the programme targeted primarily young Hungarians, adding that it could help tens of thousands buy their first home in the coming years. The 3pc fixed-rate credit up to HUF 50m will be available, from September 1, to all first-time home buyers, regardless of age or family status. Eligibility extends to borrowers who have not owned residential property for the previous ten years, owners of real estate with a value under HUF 15m and people whose ownership stake in a home does not exceed 50pc. Eligibility also extends to owners of property slated for demolition or, in some cases, encumbered with usufruct. In the case of applications for credit by couples, either married or in civil partnerships, only one person must meet the ownership eligibility requirements. Borrowers must be 18 or older, but show their social security contributions have been covered for a period of at least two years. Borrowers must certify they owe no back taxes and have no criminal record. They must also comply with lenders' conditions for creditworthiness. Prices of eligible homes in the scheme are capped at HUF 100m for ones in multidwelling buildings and HUF 150m for detached houses. The area-based price limit is set at HUF 1.5m per square metre. The down payment for credit in the scheme is 10pc. Applications for the credit will be accepted from September 1, according to the draft decree.
Budapest Times
22-07-2025
- Business
- Budapest Times
State Secretary: Home Start programme could support ‘normalisation or even reduction' of rental rates
State Secretary Miklós Panyi said a subsidised credit scheme for first-time home buyers could boost the rate of owner-occupied residential property in Hungary, supporting the 'normalisation or even reduction' of rental rates. In a talk on the Home Start Programme with Gergely Gulyás, the head of the Prime Minister's Office, Panyi said the Home Start Programme could give people looking for investment real estate an incentive to put their money elsewhere, causing the market to 'cool'. The programme, set to launch on September 1, will offer all first-time home buyers, regardless of age or family status, a 3pc fixed-rate loan up to HUF 50m for the purchase of flats in multidwelling units up to HUF 100m and detached homes up to HUF 150m. The down payment for borrowers is set at 10pc. Panyi said that ownership of real estate with a value under HUF 15m or of a part of a home, up to 50pc, would not exclude potential borrowers from the Home Start Programme.
Budapest Times
11-07-2025
- Business
- Budapest Times
Home Start to help young Hungarians purchase their own home
State Secretary Miklós Panyi said the Home Start Programme, a recently announced scheme offering subsidised credit to first-time home buyers, could help tens of thousands of young Hungarians purchase their own home. From September, the government will offer first-time home buyers loans of up to HUF 50m with fixed rates of 3pc. The loans will be available to first-time home buyers regardless of age or family status. After talks with the Hungarian Banking Association on Tuesday, Panyi said the banking association was involved with the drafting of the scheme, but there were still more details that needed to be hammered out. Work on fleshing out the rules for the credit is underway, he added. Anna Florova, who heads the banking association's retail lending working group, noted that subsidised credit accounted for 20-25pc of home loans at present. She said that commercial banks were eager to participate in the Home Start Programme and were getting ready for the scheme's launch on September 1. Panyi said instalments on Home Start loans could be even lower than monthly rents.
