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8th April, 2024
New home modernisation programme launched
A New Home Modernisation programme including energy saving loans and subsidies has been launched with a budget of Ft 108 billion, the government announced on Friday.
State development bank MFB will provide interest-free loans of Ft 6 million for eight years, to homeowners who contribute at least Ft 1 million.
Grants of Ft 2.5-3.5 billion are also available, depending on the development level of the subcounty. However, it is mandatory that homeowners take out an interest-free loan. The grants can be used to repay the loan.
Unlike earlier home modernisation schemes, the funds are available only for homes built before 1990 that are connected to the gas network.
Furthermore, only projects that reduce energy needs by at least 30% are eligible.
The loan will be available only from the so-called MFB Points, which will also be operated by other banks.
Sources told Portfolio that a consortium of OTP, MHB and Gránit Bank filed a bid to operate these points, so there is a good chance that the new home renovation loan will be available through them.
The programme is financed from the REPowerEU chapter of the EU’s Recovery and Resilience Plan. The government expects that at least 20,000 homes will be modernised from the Ft 108 billion available.
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Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).
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