Consumer-friendly Home Loans in Detail

If you are interested in buying real estate, then you have certainly come across Consumer Friendly Home Loans. Although you may not have known what that meant. A Consumer Friendly Home Loan is a certification that you can only get a loan if you meet strict requirements. Let’s see the details!


What is Consumer Friendly Home Loan?

Consumer Friendly Home Loan?

The Consumer Friendly Home Loan is a credit rating issued by the National Bank of Royale and is issued to credit products that comply with its terms and conditions. Consumer-friendly Home Loans can only be forint based. Only repayments with equal monthly installments, ie annuities, are allowed. The interest period can be 5, 10 or 15 years and it is also expected to fix the interest until the end of the term. The credit assessment deadline is a maximum of 15 business days from the availability of the valuation, and the disbursement deadline is a maximum of 2 business days from the fulfillment of the conditions, so credit management should be quite fast.


Consumer Friendly Home Loan interest rate

Consumer Friendly Home Loan interest rate

In the case of Consumer Friendly Home Loans , the interest rate premium on the bank’s reference value shall not exceed 3.5%. Fees until disbursement and early repayment are fixed. The disbursement fee is 0.75% of the loan amount, up to a maximum of HUF 150,000. The prepayment fee may not exceed 1% of the amount prepaid. And the savings that can be contractually contracted, the related government subsidy and the interest credited on them, are free of charge from the Savings Deposit deposit. We wrote about the best home loans here, click here.

You will only be eligible for a Consumer Product Home Loan certification if all of these conditions are met, which is why few banks have this credit product. However, the criteria listed above are not impracticable and there is a growing number of credit institutions that can apply for, among other things, Consumer Friendly Home Loans.

If you have any questions about Home Loans, please contact us at one of our contact details; we are happy to answer!

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