It is our basic human attribute that we love to save on the things we need, especially when it comes to making a long-term commitment. This is especially the case with loans. That’s why it’s worth talking about MFL, or consumer-friendly loans.
What is this MFL Loan?
This is in principle a cheaper qualified loan. Banks cannot give this name, rating, to a loan by itself. A number of different conditions have to be met, and if successful, it is approved by the National Bank of Hungary (MNB) .
Simplified, these are cost-maximized, simpler, and more easily comparable loans that must meet the following criteria:
Criteria for consumer friendly credit
The following are the most important in drafting points:
- Fixed installment for at least 3 years (min. 3 year interest period)
- The maximum disbursement fee is 0.75% of the loan amount, but not more than HUF 150,000
- Up to 30 years maturity
- Maximum 3.5% interest rate premium (over the reference rate level, not total)
- Living-; up to 1% of the final repayment charge, but free of charge for the saving of the apartment
For whom and when is it worth it?
It is almost clear from the terms that all those who are planning or owning a home plan are worth choosing ( you can calculate for yourself which LTP to choose )
It is recommended for almost everyone when the interest rate environment is low, as we can fix the low interest rate for at least 3 years with a low disbursement fee.
Don’t forget the comparison!
Of course, there may be a situation where a “smooth” loan, in a given situation, is worth more than a Qualified Consumer Friendly Credit. Interestingly, recently (mid-February 2018), these qualified loans have become more expensive, while other loans have become cheaper.
Therefore, rely on our help. We can help you up-to-date with our calculator and our professional expertise. We would like you to have a smooth borrowing process without any problems or problems.