President's plan for Swiss-franc borrowers
10:44
President of Poland, Bronisław Komorowski, has poised that banks and the government should establish mortgage loans restructure fund aimed at helping borrowers who have trouble paying back their debts. This is yet another proposition intended to solve the difficult situation of holders of Swiss franc-denominated mortgage. On Monday, the head of the Financial Supervision Authority (KNF), Andrzej Jakubiak, stated that the debts should be converted to two złoty-denominated loans and the excess value of conversion to be covered by banks and the borrowers.
According to the president's plan, the fund would help troubled borrowers regardless of the currency of their mortgage loans. In the case of losing a job or an illness or any other random accident, the borrower would apply to the fund for a low interest rate loan. Once he is back on his feet, he would be obliged to to pay back the sum he had obtained from the fund. In special cases, however, the debt could be canceled. The proposition would be valid for those, whose apartment's total space does not exceed 75 sqm, or 100 sqm in the case of a house.
Additionally, if the borrower is not able to continue paying back the mortgage loan, he would be allowed to return the property to the fund, but still live there as a tenant.
In the president's view, banks and the government would contribute to the fund.
