Home renovation applications at Erste Bank near HUF 2 bln

Residential

Since the start of the home renovation loan scheme in February, Erste Bank has received applications worth almost HUF 2 billion, writes economics website novekedes.hu.

More than 70% of the customers requested the maximum loan amount of HUF 6 million, the average loan amount being HUF 5.5 mln, according to Alexandra Szabó, head of the bank's retail mortgage and baby loan product management department.

The proportion of those who choose the longest 10-year term available is more than 80%.

Customers most often want to spend the loan on energy upgrades to their homes, such as door and window replacements, insulation and heating system renovations, but one of the most popular targets is the replacement of interior cladding.

Number of Thefts in Capital Edges Higher in 2023 Figures

Number of Thefts in Capital Edges Higher in 2023

Magyar Drops Audio Suggesting Gov't Meddling in Corruption C... Government

Magyar Drops Audio Suggesting Gov't Meddling in Corruption C...

Wizz Air Using VR for Pilot Training Innovation

Wizz Air Using VR for Pilot Training

2024 Edition of Budapest Ritmo Approaching In Budapest

2024 Edition of Budapest Ritmo Approaching

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.