Published: March 27 2023
Changes to home renovation support deadlines
Home Renovation Support is a popular program for families with children living in Hungary. The program helps them modernize their homes by reimbursing half of the renovation expenses, up to a maximum of 3 million HUF. However, the program was only available until December 2022, for for some, this was extended to March 2023, and around 100,000 families filed their application at the last moment.
This led to delays in the evaluation process, and many families with minor application errors were rejected. One solution would be to re-evaluate the applications that were filed before December 31st, 2022, but were rejected due to minor issues. If the new amendment passes, the National Treasury would have an additional six days to complete the evaluation of these applications.
However, only families who had their application rejected due to the following reasons would be eligible to re-apply:
- Applicants who had not lived in the renovated property for at least a year at the time of application
- Applicants who had more than 5,000 HUF in outstanding public debts at the time of application.
- Applicants who fulfilled the residency requirement anytime before the 31st of December 2022, but applied later than that date.
The amendment also helps families who are still undergoing evaluation. They will now be approved for the program even if they fulfill the residency requirement only by the 31st of December 2022.
Changes to baby loan deadlines
Babaváró Hitel (Baby Loan) is one of the most popular government programs in Hungary. The program offers couples interest-free loans if they have or plan to have children. The deadline for reporting a child's birth or adoption to qualify for the program is currently 60 days. If the deadline is missed, the loan cannot be deferred or adjusted.
The proposed amendment would extend the deadline to report a child's birth or adoption to 180 days, providing more wiggle room for families who miss the initial deadline. Couples who had a child more than 180 days ago but did not inform the relevant authorities can now qualify for the loan if they do so within 180 days of the amendment's announcement.
The new rules for the Baby Loan program will come into effect ten days after the government announces the new amendment.