May 19, 2017 / 8:32 AM / in 7 months

Hungary cbank launches scheme to curb mortgage spreads

BUDAPEST, May 19 (Reuters) - Hungary’s central bank launched a set of measures on Friday designed to curb mortgage borrowing spreads and boost competition among local lenders, it said in a statement.

The programme, which has been in the works for several months, will enable commercial banks to apply for the central bank’s scheme of certified mortgages, which meet a list of standardised criteria, the central bank said.

The scheme, to be launched from June 1, will limit the spreads applied to such mortgages to 350 basis points. Fees applied to the issuance and pre-payment of mortgages will also be capped under the programme, it said. (Reporting by Gergely Szakacs and Sandor Peto)

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