We calculated what the decision of the mansion for foreign currency debtors means in forint

Here is the decision of the mansion, which has been reported by several magazines. This means that it is not fair to use the exchange rate margin for foreign currency loans, as there is no specific currency exchange, so the bank may not charge a fee. A unity decision can be made within weeks, and the body will take that decision into account. But how much can foreign currency lenders gain from this?

In the PortfolioPost report, we read the details of the decision and the trial itself, and we looked at how much foreign currency borrowers can save now if they really wiped out the exchange rate gap on any debt repayment. That is, if all francs have to be converted into forint at the MNB’s central rate.

The extent of the saving depends on the size of the debt and the exchange rate gap the bank has used so far (the difference between the buy and sell rates). For example, a 6% margin means that you sell that currency 3% more than the average rate to your customers. From this, it can be seen that even with a sufficiently high debt and an average exchange rate gap, it can be thousands of forints per month.

There’s always one but!

Which is not small, since foreign currency lenders have long known that it is not the exchange rate that hurts the family coffers, but the movement in the exchange rate itself. After the decision, the forint jumped slightly, in the wrong direction.

Of course, such jumps are not lasting, but they are definitely decisive. The question is whether this saving a few thousand forints is more significant or the weakening effect of the forint caused by this or other similar decisions.

Where do I put the money I’m saving now?

save money

For those who want to put aside the money they have saved for worse times, a home savings may be the best solution, where we can get 30 percent government support after making payments, so we can get a return of over 14 percent. Together with a forint-based, favorable loan, we can put the entire savings into our debt. If you are looking for the best home savings, take a look here.