By amending the Regulation pertaining to the Bausparkassengesetz (BSpG; Building Society Law), the Financial Market Authority FMA is increasing with effect from 1 January 2010 key limits applicable to building society business.
- Building society savers will be able to borrow up to a total of EUR 180,000 (formerly EUR 150,000) in the form of a building society loan.
- For major building society savings agreements, which can be concluded for specific kinds of large-scale building projects, the minimum amount will be raised from EUR 300,000 to EUR 360,000. (To qualify as a major building project, a house-building project must involve at least four housing units that are interrelated in a legal or architectural sense.)
- The limit on unsecured loans or guarantees granted in individual cases will be increased from EUR 22,000 to EUR 25,000.
The amendment has been published in Federal Law Gazette II no. 355/2009.
For further information please contact
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-5106
+43/(0676)/882 49 516