Press Release: State aid: Commission approves Hungarian Mortgage Support Scheme to help households affected by financial downturn

On 13 July, 2009, the European Commission approved under EC Treaty state aid rules the Hungarian Mortgage Support Scheme which is aimed at helping homeowners affected by the current economic downturn. Under the scheme, the Hungarian State would guarantee 'bridging loans' which cover part of the monthly instalments of the original mortgage loans for a period of up to two years. The Commission concluded that the measure is compatible with Article 87.2.a of the EC Treaty that allows state support to individual consumers under certain conditions. In particular, the aid has a social character and is provided on a non-discriminatory basis.