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Mortgages. Statutory credit holidays – Prime Minister Mateusz Morawiecki on one of the variants

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Statutory credit holidays can be extended. – We are considering using this mechanism again, but decisions will be made in the third or fourth quarter. It is possible that already in July or August, Prime Minister Mateusz Morawiecki said on Tuesday. The head of the government also spoke about one of the variants being considered.

Prime Minister Mateusz Morawiecki during Tuesday’s press conference he was asked about a possible extension of the statutory provisions credit holidays. The head of the government pointed out that decisions on this solution should be made within the next two months.

Longer credit holidays?

The Prime Minister also spoke about one of the variants being considered. – Decisions may concern, for example, one half-year and may also include income criterionbut we will see what the level of unpaid loans is, how fast interest rates are falling, what are hopes for a faster one interest rate cuts – which is independent of the government – and then we will make the appropriate decisions, I think in the next two months at the latest – replied Mateusz Morawiecki.

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At the end of July 2022, the Act on crowdfunding for business ventures and assistance to borrowers entered into force, introducing credit holidays. This is the possibility of suspending the repayment of the PLN mortgage installment. This year, you can use this solution for a maximum of 4 months, with one installment per quarter.

Suspended installments will pass at the end of the repayment period, thus the loan period will be extended by the number of months when the loan holidays were used.

Main photo source: PAP/Radek Pietruszka

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