If there are more home savings fund contracts in the family, then there is more government support! – Loans

If there are more home savings fund contracts in the family, then there is more government support! – Loans

Nearly 40% of Home Savings Fund Contracts are concluded by clients who also need government support to achieve their housing goals, because by multiplying the amount of support available to all family members.

In Hungary, this amount, the amount of LTP subsidies, increased by 13.5% in the previous year and reached HUF 61.6 billion!

The economic expert’s opinion

The economic expert

  • The amount of state aid that can be linked to the number of LTP contracts is constantly increasing, according to statistics, it increased significantly compared to 2016, reaching 61.6 billion, an increase of 13.5% compared to the previous year and amounting to approximately 226 billion HUF.
  • As a market-leading company, Fundamenta had an average monthly savings of HUF 17,500, with three-quarters of its clients opting for a maximum contract of HUF 20,000 per month.
  • the average savings at OTP Lakás Savings Fund is 18 thousand HUF, at Erste nearly 20 thousand HUF, and at Aegon HUF 15 thousand.
  • Those with multiple contracts, one in four at OTP and one in five at others. These contractors hold 40% of all contracts.

There is a growing opinion that the annual subsidy of max. 72 thousand HUF should be increased to 100 thousand HUF. This would reduce State aid to 20%.

The first would be optimal due to house price increases

And savings would increase from HUF 240,000 to HUF 500,000 per year.

In the opinion of Mónika Palkó, who is the managing director of Aegon Lakás Savings Fund, she also drew attention to the possibility that this step could reduce the desire to save, and thus the number of contracting clients.

Contrary to this opinion, the Ministry of National Economy stated “there is no reform of the subsidy system on the government agenda”.

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