The Polish government changed the idea of helping borrowers and significantly tightened the rules for granting credit holidays. People who made a way of earning money from the purchase of flats were removed from the list of beneficiaries.
Trying to help Poles with higher loan instalments
The first wording of the bill, which is to help borrowers, caused considerable controversy. The government, trying to help Poles for whom growing loan instalments become difficult to bear, has thrown the networks of the aid mechanism so widely that it has caught all people with a mortgage on their necks. Also those who bought flats in order to profit from renting later.
The only condition that was included in the draft was that the borrower cannot take advantage of credit holidays twice with the same lender. So it was enough that, taking out several loans at once, we went to a different bank for each of them. In the light of the proposed regulations, it was possible to apply for more than one loan vacation.
Credit holidays are no for everyone
However, the Council of Ministers changed its mind and in the draft submitted to the Sejm the conditions were tightened. Now, you can only apply for a loan vacation for one loan. Moreover, the legislator wrote that the purpose of purchasing real estate must be to satisfy one’s own housing needs.
What does this mean in practice? Probably only applications in which the applicant wants to get help with the repayment of the only flat he has can count on a positive consideration.
The draft also provides for penalties for submitting false statements. The person submitting the declaration is obliged to include the following clause in it: “I am aware of the criminal liability for submitting a false declaration.”.
Aid will go to 2 million borrowers
The draft will be considered by the Sejm at the meeting scheduled for 25 and 26 May.