After the decision of the Mansion and the following article, we received several questions, which we now answer in a separate post. We have collected the facts we know and the opportunities we trust.
Who is affected by yesterday’s decision?
Only to the Kásler, who went to Openlook and sued, including because of the use of the exchange rate margin. Their case reached the Courthouse, where they were given a favorable judgment on the matter. The family is getting some money back, because the court said it was unfair to apply the exchange rate.
Can it be good for me too?
After the decision, the Mansion wants to make a unity decision on the matter, which can be made within 2 weeks. It will probably contain the same principle. However, even after that, everyone does not have the money automatically, but one by one they will have to go to court, but it will be easier as the courts have strong enough guidance.
It could be even easier if the government made the execution of the Curia’s unity ruling mandatory for all foreign currency borrowers, so there would be no automatic litigation. There is also a good chance of this based on prior government communication.
Later, can all foreign currency lenders get their money back?
If this is the case, then yes. Authenticators and borrowers can be just as happy as mortgage lenders. If the above is really realized, then every foreign currency loaner can get money.
It depends on the exchange rate margin the bank used during the term of the loan and how much debt the borrower has taken. One time, a higher amount is due because the borrower received his loan at a purchase price, which is lower than the average rate. This represents a one-off item of around $ 50,000 in the case of a 1% exchange rate margin and a loan amount of $ 10 million. In addition, even foreign currency borrowers may receive back the amount they paid monthly due to the difference between their foreign exchange selling rate and their average exchange rate for their debt.
We also made a spreadsheet about it yesterday, which shows that it can be a few thousand forints a month.
This amount may be retroactively refunded to debtors. Homeowners have been paying back at the central rate for more than 3 years, so they can get back less and never pay less in the future.
I replaced it, prepaid it, paid it back, fixed it, etc. the element of faith, do I owe money?
Yes, even in such cases, the money is due, because it doesn’t matter if the loan is no longer alive or may have defaulted. If everything is supposed to be happening, you can even get money back if your apartment has been auctioned off, fixed exchange rate, better loan or repayment.
In addition, the sale rate used for early repayment may be illegal and may result in a refund.