Moratorium on Loan Repayments in Hungary
April 2nd, 2020
The decision of the Hungarian Government may also make your situation easier.
The epidemic situation has immediate economic effects globally, which is a challenge for employees, employers and, of course, many property owners. Hungarian Prime Minister Viktor Orban announced a blanket moratorium on loan repayments for all companies and private borrowers until the end of the year.
The provision also applies to foreign landlords if they have taken out a loan in Hungary. It is good news for foreign real estate investors, especially for those who were involved in holiday rentals. So what do you need to do now? Nothing. You only need to take action if you are consciously deciding to continue the loan repayment during this period. In that case you have to contact your bank in Hungary.
Sources: Tower International