16:39 28 February 2024
Polish Banks Oppose Universal Credit Holidays, Support Borrower Support Fund
The Polish Bank Association advocates for targeted assistance through the Borrower Support Fund instead of universal credit holidays, as proposed by the government. In 2023, the housing loan market saw a decline, with 162,375 new mortgage loans granted, primarily driven by the "Safe Credit 2%" program. However, the number of active housing loan agreements decreased by over 11% compared to 2021. The government is working on new measures to assist mortgage holders, including potential deferral of installment repayments for 40 months. The association emphasizes the need for principles over handouts, highlighting the effectiveness of the Borrower Support Fund. Meanwhile, ongoing discussions aim to refine proposed statutory provisions to address the challenges faced by borrowers in financial distress.
