PLN 600 million for distressed mortgage borrowers
12:48
The ruling Civic Platform (PO) said that it is preparing a law that would create a special fund managed by state-owned lender BGK with an aim to help distressed borrowers, regardless of the loan's currency.
"The fund will amount to PLN 600 mln," said PO MP and lower house public finance committee head Krystyna Skowronska.
Contributions are expected to be made by banks.
The PO-authored legislation will be submitted to the lower house on Wednesday, the official declared. "We hope the bill will be passed yet in the current parliamentary term," she said.
The program will be addressed to mortgage borrowers who have lost their job and whose liability exceeds the real estate value or whose monthly installment exceeds 60 percent of household income. Such borrowers can count on PLN 1,500 a month at a zero interest rate disbursed over a maximum period of 18 months and due for repayment in 8 years.
