Credit holidays 2024. Act signed by the president with more lenient rules and higher support

Luc Williams

Suspension of repayment of loan installments under the new rules

According to the amendment, borrowers will be able to suspend the payment of loan installments twice in the period from June 1 to August 31 and twice between September 1 and December 31. This solution will be available to people who: the installment will exceed 30%. household income, calculated as the average for the previous three months, or persons who have at least three children to support on the day of submitting the application. The loan repayment will be suspended during these periods if the value of the loan granted does not exceed PLN 1.2 million. According to the information presented by representatives of the Ministry of Finance, a maximum of 562,000 people will be able to benefit from the loan holidays this year. borrowers.

Borrower Support Fund with higher payouts

The amendment includes provisions regarding changes in the principles of operation Borrower Support Fund (FWK). 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 from 36 months to 40 months. Help is provided in the form of loans, 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.

Borrowers in a difficult financial situation (including foreign currency borrowers) will be able to apply for assistance from the FWK.ata exceeds 40 percent. 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.

What next with investment loans at BGK?

The new regulations also provide for a change in the deadlines for suspending the payment of installments of loans taken out at BGK for investment and construction projects aimed at the construction of residential premises for rent or the construction of residential premises for which a cooperative tenant's right to a residential premises will be established. The entity repaying such a loan will be able to suspend repayment for four months in 2024, and not for two months from May 1 to June 30 and for 2 months from July 1 to December 31.

Frozen cooperative fees

The amendment also refers to the obligation to apply cooperative fees at the level at the end of 2023. This will not apply to fees the amount of which is independent of housing cooperatives.

Extension credit holidays will mean a loss of PLN 625 million for the state budget CIT tax, which will not be paid by banks. According to the ministry's calculations, the holidays will cost banks PLN 4.7 billion. In previous years, this cost amounted to over PLN 15 billion.

The act is to enter into force 7 days after its announcement.



Luc's expertise lies in assisting students from a myriad of disciplines to refine and enhance their thesis work with clarity and impact. His methodical approach and the knack for simplifying complex information make him an invaluable ally for any thesis writer.