A draft bill in the Sejm extending credit holidays until 2024. There are new restrictions

Luc Williams

According to information published on the Sejm website, it was received by the Marshal's staff on Tuesday draft amendment to the act on support for borrowerswho took out a housing loan and are in a difficult financial situation and the Act on crowdfunding for business ventures and assistance to borrowers. The purpose of the act is to extend the possibility of using credit holidays by the end of 2024

What are the limitations?

By design, people who own PLN mortgage loan – the holidays do not apply to people indebted in foreign currencies – they will be able to suspend the repayment of loan installments in May and June and for another two months in the second half of the year.

The project introduced limitations compared to previously applicable regulations. This solution will be available to people whose installment exceeds 30%. household income, calculated as the average for the previous three months, or if the borrower has at least three children to support (as of the date of submitting the application.

The limit of the loan value whose repayment can be suspended was set at PLN 1.2 million.

What about the Borrower Support Fund?

The project includes a proposal for changes to the operating principles Borrower Support Fund. The maximum assistance for borrowers will be increased to PLN 3,000. PLN from 2 thousand PLN currently, and the assistance period will be extended – 36 months to 40 months. The aid is granted in the form of a loan, the repayment of which is to be divided into 200 installments (currently 144 installments). The total value of the loan to repay the debt is to be PLN 120,000. zloty.

The project also stipulates that borrowers in a difficult financial situation (including foreign currency borrowers) whose installment exceeds 40% will be able to apply for assistance from the FWK. household income. Currently, this rate is 50 percent. In addition, you will be able to benefit from FWK support if your monthly household income, less the monthly costs of servicing the housing loan, does not exceed 2.5 times the criteria specified in the Social Assistance Act.

The proposed regulations are to enter into force on May 1, 2024 (PAP)

author: Marek Siudaj


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