The government will decide in autumn whether to include foreign currency-denominated car loans in the forex loan relief scheme, National Economy Minister Mihály Varga has said. The government has maintained its position that assistance should mainly go to troubled housing loan holders, but it would also consider ways to convert other types of retail loans, Varga said. He added that there were some 150,000 car loans denominated in euros or Swiss francs, the total amounting to HUF 162 billion. The minister noted the difference between mortgages and car loans and said that “when a debtor is about to lose their home, the government must intervene with no delay”. He acknowledged that a car loan holder’s struggle with debt service might lead to losing the house, too. János Lázár, the head of the Prime Minister’s Office said car loan holders should be helped just as much as mortgage holders because their contracts with banks have also been declared unfair by the Kúria, the Supreme Court.
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