More and more people are choosing fixed loans! – Payday Loans
According to recent estimates, fixed rate mortgages are increasingly taking the lead, while floating rate loans are slowly losing their popularity. The overall housing market is still growing strongly. – reported our credit expert.
New home mortgages for the last 5 months amounted to HUF 315 billion
An increase of 36% compared to the same period of the previous year! The amount of housing loans with a 3-12 month interest rate, ie variable interest rate, decreased by 15% to HUF 76 billion.
Iyandel Lertoys is pleased with the change we have seen in floating rate mortgages because of a downturn and a shift in the balance of fixed loans.
“This suggests that borrowers are aware of the fact that in the case of variable-rate home loans, an increase in interest rates is immediately reflected in installments. These loans are more risky than home loans that guarantee a fixed repayment installment for several years or until the end of their term, ”explains Bankráció.hu.
The min. From January to May 2018, the amount of housing loans with a fixed repayment period for 10 years was close to HUF 19 billion, an increase of 26% year-on-year. Compared to the overall housing market, the proportion of such home loans is lower, but these schemes will become increasingly popular.
In October, according to the new regulations in force:
- The 50% and 60% income-proportional repayment limits will only apply to those who fix their repayments for a minimum of 10 years or until the end of the term. This will further increase the growth of such home loans.
“According to a new analysis, at the beginning of July, the cheapest fixed-term mortgages for at least 10 years – at HUF 10 million and for 20 years – were available for more than 5% of total thm (total APR). There are also significant differences between these constructions, both in terms of banks and packages, so before borrowing, it is worthwhile to look closely at the multitude of home loans, ”added Iyandel Lertoys.
The big decision in our lives is to make a home loan, prudent, foresighted, thoughtful and responsible.
We would also like to help you with the administration, we can offer different current loan offers without having to visit several banks. We offer free, convenient, fast, reliable administration, and our credit intermediaries are guaranteed to offer such facilities as banks.