Hungary is the European purchase where currency planning matters most, for two reasons that set it apart from France, Spain or Greece. First, you pay in Hungarian forint, not euros, and the forint is a more volatile currency, so the rate can swing further while you buy. Second, since Brexit UK buyers count as non-EU and must obtain an acquisition permit before completing, which lengthens the timetable and therefore the window in which the rate can move. The way to stay in control is to fix your exchange rate early with Medlock & Thames, who can deal in forint and fix the rate for the full purchase period. This guide covers the currency side; for the wider framework, see our guide to buying property abroad.
Why is currency risk higher in Hungary than in the eurozone?
Because the forint moves more. In May 2026 the pound ranged from about 409 to 436 forint within a single month, according to published exchange rate data. On a property priced at 80 million forint, that range is the difference between roughly £195,600 at 409 and about £183,500 at 436, a swing of more than £12,000 on the same property, decided purely by when you happened to convert. The euro is comparatively steady against the pound; the forint is not. That is why the case for fixing your rate, rather than hoping for a good day, is stronger in Hungary than almost anywhere else a UK buyer commonly purchases.
What drives the forint, and why does it matter?
The forint is an emerging-market currency, and it responds sharply to the Hungarian National Bank's interest rate decisions, to domestic inflation, and to shifts in sentiment towards central and eastern Europe and the European Union. The Hungarian National Bank has at times run some of the highest interest rates in the region, and policy turns can move the currency quickly. For a buyer, the detail matters less than the consequence: the forint can move several per cent in weeks for reasons that have nothing to do with your purchase, so leaving the rate to chance is a larger gamble than it would be in euros.
How does the non-EU acquisition permit affect your timetable?
Since Brexit, UK nationals are treated as non-EU buyers in Hungary and must apply for an acquisition permit from the local government office before the purchase can complete. The permit typically takes two to four weeks, and the whole process from accepted offer to registered ownership often runs to three to five months for non-EU buyers, longer than the six to twelve weeks an EU buyer might expect. A longer timetable means a longer period of currency exposure, which makes early planning more important, not less. It also means committing funds to the process earlier, so confirming where your deposit is held, and how it is protected, is part of the same planning. A forward contract can fix your rate out to twelve months or more, comfortably covering the permit wait and the completion that follows.
When should you fix your forint rate?
As soon as you are committed to a specific property. In our experience, the buyers who lose most to the forint are those who wait until the acquisition permit comes through and then convert in a hurry, often at a bank, under completion pressure. Because the non-EU timetable is longer, the temptation to delay is greater, and so is the risk. Fixing the rate with a forward contract when you commit, and aligning the contract date with your expected completion, turns an unpredictable cost into a known one for the whole three to five month process.
What currency tools suit a forint purchase?
The same instruments apply as for a euro purchase, but the choice matters more. A forward contract fixes today's rate for a future date, so you can commit to your Hungarian purchase knowing the sterling cost regardless of how the forint moves before you complete. A spot transfer converts at the rate on the day, which leaves a large completion payment exposed to forint volatility and is rarely the right choice for the balance. A regular payment plan suits ongoing forint costs once you own the property. For the deposit and the completion balance, a forward contract is usually the tool that does the most work. For a fuller explanation of each, see our pillar guide and our article on using a forward contract.
What does buying in Hungary cost?
Budget beyond the price, and remember that every cost is a forint cost. Buyers pay a property transfer tax of four per cent of the value, plus legal fees and notary costs; the final deed must be signed before a notary, who verifies the transaction. There is also a modest administrative fee for the acquisition permit. Because these are all payable in forint, a weaker pound raises them along with the price, so it is sensible to fix your rate across the full budget rather than the headline figure alone.
Can my provider actually deal in forint?
This is the practical catch. Many banks and some transfer firms handle euros and dollars comfortably but offer poor rates, or no forward facility, in forint. Medlock & Thames can deal and hold forint and offer a forward contract in the currency, which matters when a large sum is sitting with a provider during the permit wait. Speak to the desk before you commit.
Frequently asked questions
Why is buying in forint riskier than buying in euros?
The forint typically moves more against the pound than the euro does, so the same delay between agreeing a price and completing can change the sterling cost by a larger amount. Fixing the rate removes that uncertainty.
How long does the acquisition permit take?
Usually two to four weeks, though it forms part of a longer non-EU timetable of three to five months overall. Plan your currency cover to run to your realistic completion date.
Can I get a forward contract in forint?
Yes, through a currency specialist that deals in the currency, though not every provider offers one. Confirm this before you open an account.
Do I need a Hungarian bank account?
Often yes for ongoing forint costs once you own the property, though the purchase funds usually move to your lawyer's client account. A currency specialist can deliver forint to either, on the date required.
Related articles
This guide is part of our overseas property series. For the full framework, read Buying Property Abroad: A Currency Guide for UK Buyers. See also how a forward contract works and our country guides for France, Spain, Portugal and Greece.
