“The attached draft changes the indicated periods during which the obligation to pay mortgage loan installments will be suspended. Due to the need to proceed with the legislative process, it is proposed that this suspension will last two months, from April 1, 2024 to on June 30, 2024, and in the case of subsequent quarters – on a monthly basis in each quarter,” Domański wrote.
The current project provided for this suspension to last for one month, from March 1, 2024 to March 31, 2024, and in the case of subsequent quarters – for one month in each quarter.
“At the same time, the attached project proposes to establish a new threshold for the value of the loan granted at PLN 1.2 million. Setting this threshold at three times the average loan value will, on the one hand, prevent people who do not need such support from taking advantage of the so-called credit holidays, and on the other – will take into account the prices of residential real estate in large cities,” he wrote.
Previously, the Ministry of Finance proposed a threshold of PLN 2 million. Setting a loan value limit of PLN 1.2 million will, according to the Ministry of Finance, reduce the costs of holidays for banks by approximately PLN 80-90 million.
Domański also informed that the date of entry into force of the proposed regulations has changed, which is related to the ongoing legislative process.
“Therefore, it is currently expected that the proposed act will enter into force on April 1, 2024, which should allow for the completion of the legislative process, and the transitional regulations contained in the draft will provide lenders and Bank Gospodarstwa Krajowego with time to adapt their IT systems to the introduced changes. legal,” he wrote.
“It should be assumed that 420,000 loan agreements will be covered by credit holidays (assuming an RdD ratio of 35%). According to estimates prepared based on the Polish Financial Supervision Authority’s data, the maximum annual cost, assuming that 100% of eligible persons will use the instrument, is approx. PLN 3.6 billion. At the same time, assuming that the same percentage of eligible persons will benefit from the credit holidays as from the previous credit holidays, the estimated cost for the banking sector will be PLN 2.5 billion,” it was stated in the Regulatory Impact Assessment (IAS). .
The borrower will be able to take advantage of loan holidays if the installment amount exceeds 35%. his income.
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