Lending reform will come in Hungary?

The opposition Mi Hazánk movement has urged the reform of domestic lending rules, arguing that adjustable-rate loans should be reduced drastically since variable repayments imperiled borrowers.

An interest cap for loans taken out with bank cards preventing repayments with up to 50 percent annual interest could be introduced, Zsuzsanna Fiszter, the party’s finance spokeswoman, told a press conference on Tuesday.

She also said interest rates linked to the Budapest interbank forint lending rate (BUBOR) was problematic given its regular gyrations.

Fiszter said her party wanted bank transaction costs to be minimised or even abolished, and the same should apply to fees levied on cash deposits.

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