Key features and pitfalls of purchasing real estate from a foreign owner using a subsidized loan

Any natural person may acquire real estate ownership in Hungary. The question is under what conditions and how long it takes.

In particular, the dumping associated with the FIX 3% subsidized loan provided under the Home Start program raised questions about what factors could complicate the closing of sales and the prompt disbursement of bank loans. In some cases, for example, if the owner is a foreign private individual, banks will only disburse the loan to attorney escrow accounts and will not transfer the loan amount to a foreign bank account, even if the IBAN number and BIC/SWIFT code are provided. But why is this the case?

In our article published in the Knowledge Base section of Money.hu, we seek answers to these questions, among others, and present the most important additional requirements and cost-increasing factors typical of real estate purchases from foreign sellers:

https://tudastar.money.hu/ismerteto/a-kulfoldi-tulajdonostol-tamogatott-hitelbol-torteno-ingatlanvasarlas-legfontosabb-sajatossagai-buktatoi/