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Mortgage and Real Estate Credit Act, HIKrG amendment 2023

In order to simplify lending for "older persons", the National Council amended the Mortgage and Real Estate Loan Act in April 2023. The amendment came into force on 01.05.2023.


Until now it was hardly possible for people to take out loans due to their advanced age.


An amendment to the Mortgage and Real Estate Loan Act (BGBL I 39/2023) has now clarified that age and state of health can be disregarded in a credit assessment if, on the one hand, it is likely that the borrower will meet their obligations under the loan agreement during the term of the agreement and, on the other hand, the liabilities under the loan agreement are sufficiently covered by collateral. While age was often a hurdle at the end of the loan term in the past, since May 2023 the existence of sufficient collateral has been the decisive basis for loan approval.

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