Holiday credit. Economist on an important change. Gives calculations: You can earn about 20 thousand. zloty

The support package for borrowers has been prepared by the Cabinet. Adopted by the House of Representatives on June 9. Proposals prepared by the government to help borrowers include free loan holidays, co-financing of the Borrower Support Fund, and the introduction of an alternative index. Webor.

Holiday credit. Economist on an important change. Is the delay useful?

The credit leave will be available for two months each quarter this year and one month each quarter in 2023. It will not be available to borrowers who have taken out a housing loan for investment purposes, for example for rent, running a business.

The rapporteur of the Finance Committee, Rep. Marcin Borzotik of Law and Justice, said during the Seym hearing that PLN borrowers will be able to benefit from the assistance. He added that many families, especially those that borrowed two years ago and a year ago, when interest rates were low, would benefit.

According to economist Ravi Mundri on Saturday, the credit holiday may be delayed a little. Although the government originally planned to postpone the loan installment from July, it may turn out that borrowers will not be able to take advantage of the exemption until August. The expert is of the opinion that this is not a bad solution. “This means that from August it will be possible to suspend loan installments in a row,” wrote Rafai Mundri. This way, he adds, you can earn around 20,000. zloty.

‘Very good’ credit holidays? Economist: Profit is an illusion

According to the economist, the changes proposed by the government are “still too good to believe” for him. Later in the thread, he adds that too NBP He is still mediating with the president to veto government plans. He adds that the planned support for borrowers could shake up the banking sector, although the banking sector will “deal with it”. However, the report notes that “individual banks may be in trouble” and that government assistance will be an “inflationary boost”.

The expert also does not have very optimistic news for those who plan to use the help. As he wrote, “Profit is deceptive.” “Because yes, in 2022-2023 we will earn (without paying installments, more will remain in our pockets), but the loan will be fully extended by the vacation months used. The installments do not disappear = they are transferred to End credit. Well, unless you pay off the loan more than necessary with the installments saved ”- the expert admits his entry.

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Help for borrowers. What other changes has the government proposed?

Let us remind you that the law regulating the issue of borrower assistance is still in the Senate. The second solution (after the approval of the loan) proposed by the government is to support the currently operating Borrower Support Fund in the amount of 1 billion PLN and 400 million by banks.

Another novelty is the ability to apply for assistance through electronic banking services without leaving home. Support from the fund consists of an additional payment of loan installments for a maximum period of 36 months, then return the borrowed amount without interest and distribute it in installments. Part of it may be refunded on conditions.

The support package also aims to enable the replacement of the WIBOR rate, on which most floating rate mortgages in Poland are based, with a different standard, such as the POLONIA rate. The government wants the new The indicator began to be applied from next year, while other solutions – from next month.

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