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FMA increases maximum amount for building savings loans

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On 25 February 2019, the Austrian Financial Market Authority (FMA) increased the maximum amount for building savings loans that individual holders of building savings and loans agreements may request from € 180,000 to € 220,000. A 22% higher financing facility is now available to holders of building savings and loans agreements for the purpose of financing of housing.

At the same time the maximum amount for unsecured building savings loans has been increased from € 25,000 to € 30,000, and the minimum amount for large-scale building savings and loans agreements increased from € 360,000 to € 440,000.

The FMA thereby makes use of the power conferred upon it in the Building Society Act (BSpG; Bausparkassengesetz) to define these respective maximum or minimum limits by means of a Regulation. In so doing it is required to take into consideration the stability of building societies (Bausparkassen) as well as the economic interest in the functioning financing of residential property. This increase has entered into force with effect from the Regulation being announced. The amounts concerned were last adjusted in 2010.

 

Journalists may address further enquiries to:

Mr. Stefan Maier

+43/(0)1/24959-6001

+43/(0)676/882 49 426

 

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