Hungary is introducing a new government-backed mortgage scheme, and anyone planning to buy their first home will want to take a closer look.
Wekerle Plusz is scheduled to become available from 28 October 2026, replacing Otthon Start for new applicants.
The biggest change is that buyers of newly built homes will receive a lower interest rate than those purchasing existing properties.
But there are other differences worth understanding before you start looking for an apartment.
What's Changing?
Under the announced Wekerle Plusz programme, eligible buyers can borrow up to HUF 50 million over a maximum of 25 years, with interest fixed for the full term.
- The rate depends on what you're buying.
- Newly built homes qualify for a 3% mortgage, while existing properties qualify for 5%.
- That might not sound like an enormous difference, but over 25 years it adds up.
- Take a HUF 50 million mortgage.
At 3% interest, monthly repayments would be approximately HUF 237,000. At 5%, they'd rise to around HUF 292,000.
That's roughly HUF 55,000 more every month for the same loan.
Of course, newly built apartments often cost more than older ones. A lower mortgage rate doesn't automatically make a new property the cheaper purchase.
Buyers still need to compare the total price, deposit, monthly repayments and any work the property might require.
Who Can Apply?
The government has raised the proposed upper age limit for Wekerle Plusz from 41 to 45. Unlike Otthon Start, however, the new programme will have an age restriction.
Applicants won't need to be married or have children. The programme also removes a specific social-insurance-history requirement, although borrowers must still demonstrate sufficient income.
Having owned property previously won't necessarily rule you out, either.
For example, someone who inherited a modestly priced home in the countryside may still qualify to buy an apartment in Budapest.
Under the announced rules, existing ownership interests above 50% are generally excluded, with exceptions for inherited properties and homes worth less than HUF 30 million.
Parents or siblings may also act as co-borrowers.
These changes could make the programme accessible to people whose circumstances didn't fit neatly into earlier housing schemes.
Can You Buy Any Apartment?
Not quite. The government has announced that the existing property-price ceilings will remain: HUF 100 million for apartments, HUF 150 million for houses and HUF 1.5 million per square metre.
The precise application of these limits remains subject to the implementing legislation.
The square-metre condition matters particularly in Budapest, where smaller apartments in desirable neighbourhoods can exceed the limit even when their total asking price is below HUF 100 million.
A 50-square-metre apartment advertised for HUF 80 million, for example, costs HUF 1.6 million per square metre.
It would therefore exceed the announced square-metre ceiling.
Checking eligibility before paying a deposit could save buyers considerable trouble.
What If You Want to Rent It Out Later?
This is one restriction buyers shouldn't overlook.
Wekerle Plusz is intended to help people purchase homes to live in, not investment properties.
The government has announced a five-year owner-occupation requirement, with renting out the property or using it as an office prohibited during that period.
That could matter if you're considering buying a smaller apartment now and keeping it as a rental when your circumstances change.
The detailed legal conditions will determine exactly how those restrictions operate.
What Happens to Existing Otthon Start Loans?
The government says agreements already concluded under Otthon Start will remain valid.
Buyers who signed a purchase agreement by 27 October may also have a further 15 days to submit an Otthon Start mortgage application under the announced transitional arrangements.
The precise eligibility and deadline rules still need confirmation in the implementing decree.
Banks may also need a few days to prepare their systems for Wekerle Plusz, even though the announced start date is 28 October.
Anyone already arranging a purchase should speak with their lender before making assumptions about which mortgage will apply.
Is Wekerle Plusz Worth Considering?
For buyers under 45 who want a home of their own, the programme could offer a useful alternative to an ordinary mortgage.
The 3% rate on new homes is particularly attractive, although the purchase price still matters.
And while the 5% rate for existing properties is higher, it may make sense for someone who finds a well-priced apartment in an established neighbourhood.
The important thing is to choose the right home first, then work out which financing arrangement makes the purchase affordable. A subsidised mortgage is helpful. Buying an overpriced apartment isn't.