Duda signs bill introducing loan repayment holidays

President Andrzej Duda on Thursday signed into law a bill that introduces, among other things, loan repayment holidays for people who have taken out a mortgage in PLN for their housing purposes.

From August, Poles with a mortgage will be able to defer part of their installments.

The loan holidays allow suspending the repayment of a mortgage loan issued in Polish currency for a total of eight months: two months in the third and fourth quarters of this year and one month in each of the four quarters of the following year. The loan term will be extended by the number of months during which the loan payment suspension was used.

Now three-fifths of votes in the Sejm will be required to introduce the new legislation.