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Home loan repayment

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Condition of application:

The loan should be residential and mortgage-based 

 

Amount that can be requested:

The monthly amount that can be used to repay a housing loan is the 15% equivalent of the minimum monthly wage valid on the first day of the year. 

Based on the minimum wage in 2021 of HUF 167,400, a monthly HUF 25,110 can be claimed. 

If you pay your installments through our fund for a year, the amount to be paid for the year is HUF  321,000. 

If several fund members request the service on the basis of the same credit agreement, the amount paid by the fund may not exceed the amount of the loan repayment. 

 

Who may acquire the service:

The fund member if they are listed in the loan agreement as a debtor or co-debtor.

 

Documents required when requesting this service:

  • Service request form – home loan repayment 
  • a copy of the loan agreement 
  • a bank certificate issued in the name of the fund member on the loan repayment made by said fund member (for example, a bank account statement or transaction details) on the amount repayment installment for the last three months 
  • in case of applying for a credit account: proof from the bank that the fund member does not have the right to dispose of the credit account and the amounts transferred to it can only be used to repay the home loan. 

 

Documents to be submitted for disbursement:

In case of transfer to a fund member’s bank account:

If you request the transfer to be to your own account, you must confirm the payment of the loan every month. The certificate may be a bank statement or a credit institution certificate issued in the name of the fund member or a breakdown of the repayment transaction.

The certification must be submitted to the fund within 120 days of receipt. 

In case of transfer to a credit account:

If you request a transfer to a credit account with a lending financial institution, no further certificate is required for the payment. The fund member must prove the amount of the installment once a year by submitting a bank account statement issued with their name. 

 

The repayment will not be deducted from the fund member’s account ?

For example, if the family members (spouses, parents, grandparents) are all fund members, all of whom are included in the loan agreement as debtors or co-debtors, each of them can use the home loan repayment service as follows:

 

Certification with bank statement :

  • If the bank account that the loan is repaid from is shared, ie the fund members are co-owners and the names of each of them is indicated on the bank statement, they must all send in the same bank statement 
  • If the bank account from which the loan is being repaid is owned exclusively by one fund member,  
    • they must send in their bank statement
    • while the other fund members who may be co-debtors or debtors must send in their own bank statements where it is shown that they transferred their share of the payment to the owner of the bank account (certifying that they paid their share). They also must send the bank account holder’s bank account statement to prove the4 monthléy payment was paid to the bank. 

 

Certification using transaction details:

  • If the bank account from which the loan is being paid is shared, ie the fund members are co-owners and the names of each of them are indicated in the transaction detail, then they must all send the same transaction detail.
  • If the bank account responsible for paying the loan belongs to one fund member only
    • if the bank indicates the name of the account holding fund member on the transaction details,  
    • the other fund members must send their transaction details with their names on it where it is shown that they transferred their share of the payment to the owner of the bank account (certifying that they paid their share), or send the bank account holder’s transaction details in their name, to certify that the given monthly repayment has been made to the bank.

 

Certification of bank payments with cash receipt: 

If a debtor or co-debtor does not have a bank account, they can make a cash payment in the bank to the person from whos bank account the loan is repaid. To use the service you must send a cash receipt confirming the payment, including the name of the fund, as well as the bank account holder’s bank statement or transaction details.   

 

Waiting time:

The individual or employer membership fee credited to the individual account must bear interest for 180 days before this service can be paid for.

The subsidy received from the employer, for the targeted service, as well as tax credit and return after payments, can be allocated immediately after payments. 

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