Loan comparison system

The natural person who is entitled to use the services of a bank to whom the bank makes available a certain amount of money under the loan agreement. The loan applicant becomes a debtor after the conclusion of the loan agreement. The spouse must always be included in the loan unless he or she is not the owner of the property offered as collateral and declares before a notary that the property to be included in the loan is not covered by the spouse’s estate. In general, the Debtor-Debtor may not appear in the Central Credit Information System (formerly known as BAR) and, if so, may only be a pledgee / mortgagee providing collateral for the loan.

Debtor

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The natural person who is jointly and severally liable with the debtor for the repayment of the loan and its contributions. As a condition for lending, the bank may require, in particular, the involvement of a spouse (life partner) and the owners of the real estate secured as collateral. The debtor’s obligations are to the same extent on the debtor. In general, the Debtor-Debtor may not appear in the Central Credit Information System (formerly known as BAR) and, if so, may only be a pledgee / mortgagee providing collateral for the loan.

Taxation

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When you buy a property, the seller must pay personal income tax (PIT). The buyer does not have to tax. The personal income tax return is filled in at the sales contract. Revenue from the sale of the apartment is not part of the consolidated tax base and is taxed independently. The rate of tax on the proceeds of the sale of the property is 20%, which is to be determined for individuals in the annual tax return. Self-employed persons must pay the tax by February 15, and individuals by March 21.

base rate

The policy rate set by the central bank of a given country (or monetary union) at regular intervals, which also affects the level of bank interest rates.

 

Tax Refund

Tax Refund

When building or buying a new home, this apartment can claim a tax refund that meets the requirements for a reasonable home. Annuity: In the case of an annuity, each installment is the same, so the borrower pays the same installment at each repayment point.

 

Fuse

Borrower means the collateral listed in the individual client agreement and the security agreement annexed thereto to secure the debtor’s obligations under the loan agreement.

Gross floor area

Area of ​​the building bounded by external walls.

 

Currency risk

Currency risk

For foreign currency (eg CHF, EURO) borrowings, the foreign currency and forint exchange rates (exchange rates) may change due to daily market movements, therefore any adverse exchange rate fluctuations / increases may result in additional costs. Conversely, if the exchange rate falls against the forint, the “countervalue” of the financing will be reduced, meaning that you will have to buy less foreign currency to cover the repayments of principal and interest, which will require less HUF

Prohibition of alienation and encumbrance

Prohibition of alienation and encumbrance

In the event of such a prohibition, the title to the property cannot be transferred or the property secured (eg as a mortgage). It can also be based on law, court order and contract. However, with the consent of the holder of the prohibition, contract of sale.

Advance

Unlike a deposit, the advance payment is not a contractual obligation but a prepayment. A purchase price detail. In the event of contract failure, the full amount of the advance will be refunded.

Prepayment

Larger payment reducing the principal of the loan (the minimum value is determined by the bank, but is usually equal to 4 monthly installments, the advance payment intention must be notified to the bank in writing) so the monthly installments can be reduced while keeping the maturity or repayment of the entire amount may terminate the credit agreement.

Right of pre-emption

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If the owner of the home wants to sell the property with the right of first refusal, he must ask the owner of the right of first refusal before the sale whether he wants to buy the apartment under the terms of the contract with the prospective buyer. If the rightholder exercises his pre-emptive right, the seller will enter into the sales contract with the rightholder on the same terms, not the buyer.

If the Pre-Purchaser does not exercise this right or does not make a statement within 8-15 days, the Seller shall enter into the contract with the Buyer on terms and conditions as communicated to the Purchaser. The right of pre-emption is based on a clause or law contained in the contract of sale. Based on legislation, e.g. a case where the land and the building on which it is located are owned by different persons: in this case, the owner of the land has the right of pre-emption on the building and the owner of the building on the land.