The Government Family Package has attracted a lot of interest in the housing market!
Sean Cole told the government’s annual assessor, among other things, about the family-aid action plan, which, due to its size and its impact, is so huge that it is worth a stimulus package.
The “family protection action plan” to be introduced 7 points:
1. Every first woman married to a child under 40 years of age, will receive a $ 10 million baby loan.
- When the first child is born, the loan is suspended for three years,
- When the second child arrives, the loan is suspended for a further three years, and one third of the loan is released.
- When the third child arrives, the entire $ 10 million loan is released.
2. FHD is expanding the Family Home Discount Loan, its main element being that the second home can be used for a discount loan.
3. And the very attractive support, mothers of four, are exempt from personal income tax for the rest of their lives!
4. The government takes over USD 1 million from the birth of the second child and USD 4 million from the mortgage of the families after the birth of the third child. For additional children (born later), the government takes over USD 1 million for each child born.
5. The government would encourage large families to purchase cars by providing two and a half million non-refundable subsidies to families with three children for the purchase of vehicles for a minimum of 7 people.
6. Expanding nursery capacity, providing full nursery care to anyone who needs it!
7. Introduce “Grandparent’s GYED”, which allows grandparents to be actively involved in parenting!
Since then, we’ve got more details about the package!
- 10 million USD discount credit will be for free use,
- For women between the ages of 18 and 40,
- second-hand homes are extended the FHD discount loan!
- Enlargement means two million for two children and 15 million for three or more children.
The Prime Minister introduced the preferential borrowing of young married couples!
As of July 1, 2019, child support for young married couples will be introduced.
- Every woman under 40 is eligible for a $ 10 million discount on their first marriage.
The repayment is
- suspended for 3 years on arrival of first child,
- suspended for a further 3 years in the case of a second child, and
- one third of the capital debt is released, the third one the remaining debt is released.
The most important part of the measure has not yet been clarified under what terms and conditions, and what can be claimed, when and what exactly is the preferential loan (interest, maturity)
There are nearly 50,000 marriages in Hungary every year, including those over the age of 40 and those not married for the first time. According to these figures, the government will assume the cost of a $ 500 billion loan interest waiver, according to previous announcements. The effect of discounts may be decided after the final details have been announced.
If you have a housing goal, would like to take out a home loan, are interested in your options, or may have been interested in the new FHD changes, are interested in the future details of your new family action plan, call our credit brokerage experts