Most borrowers arbitration cases related to settlement

Budapest, May 27 (MTI) – Around 80 percent of cases Hungarians have brought before the Financial Arbitration Body for mediation are related to the settlement of borrowers relief, daily Magyar Idők said on Friday.

About 6,000 of the cases involve contested settlement amounts related to FX mortgages. Around 6,500 cases are related to FX car loans and 200 to forint loans.

Most of these cases were brought last year and have already been settled, Tünde Kardos-Nagy, the spokesperson for the body, told the paper.

Borrowers who believe their lenders failed to compensate them sufficiently may bring their cases to the board.

Lenders were earlier required to compensate borrowers for using exchange rate margins when calculating repayments on FX loans and for making unilateral changes to contracts.

Source: http://mtva.hu/hu/hungary-matters