- Credit leave offers the possibility to suspend mortgage payments for eight months
- There is no income standard in the government bill
- Appealed by the Polish Banks Association
- More important information can be found on Onet homepage
Białek believes that the project on credit holidays does not comply with the announcements of Prime Minister Mateusz Morawiecki, who indicated that credit holidays would be a tool for people who need help, and who have a problem with tightening the family budget. – In the meantime, the proposed holidays in the project are for everyone and this raises our great doubts – indicating.
In his opinion, the government has significantly reduced the number of people who will take advantage of credit leave. – Assuming there are no preconditions, we consider that About 80% of the credit leave can be used. borrowers. This means a huge burden on the banking sector, up to 30 billion PLN in two years, said the vice-president of the Polish Banks Association.
The holidays will hit the banks
In his opinion, this is a burden “on an unprecedented and disproportionate scale”, Which will have far-reaching negative consequences for the stability and liquidity of the banking sector and its involvement in the development of the economy, which is absolutely necessary in the current circumstances.
– In the plans of the government, the banking sector plays a big role in strengthening the economy, and in the implementation of the national reconstruction plan, in the meantime, it is affected in a way that exceeds standards. Besides, the current version of the solution is unfair, Because it promotes excessively to borrowers at the expense of customers of other banks, such as depositors – noted Białek.
He added that this does not solve the problem of increasing the burdens related to the increase in interest rates, and theoretically postpones them in time, even for those who have no problems with service installments at all, and often the wealthy. – He said.
Moreover – in Piashek’s opinion – the solution proposed by the government will fuel inflation.
ZBP has a condition
The Association of Polish Banks proposes to introduce qualifying conditions for the possibility of starting credit holidays.
– Among these buildings, there is a reference similar to the current access conditions under the Borrower Support Fund. There, the main criterion for help is the level of the loan burden on the family’s finances – you can use the fund if it is greater than 50%. In contrast, the S recommendation of the Polish Financial Supervisory Authority is 40 percent” – stated Białek.
Therefore, as he explained, ZBP suggests, for comparison, that the criterion for the possibility of taking advantage of credit holidays should be at the level of 40-50% when it comes to burdening the family budget with credit.
Credit Leaves – Terms
The government passed a bill on crowdfunding for commercial projects and aid for borrowers last Tuesday. It provides, inter alia, the possibility of suspending mortgage payments for a period of eight months.
Borrowers will be able to use it in any two months of the third and fourth quarters of this year and one month in each quarter of 2023, and the solution will be available to all borrowers who have loans in PLN. According to the project’s Regulatory Impact Assessment, assuming the use of assistance to borrowers is 50 percent. Qualified persons, the estimated cost of this solution to the banking sector in 2022 and 2023 is about 8 billion PLN.
The NBP also recently proposed to the government to reduce the cost of loan holidays and argued that the subsidy should be directed only to borrowers who are facing real problems in repaying their obligations.
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