Gov't decides to continue aid for mortgage owners
Donald Tusk, the Polish prime minister, has announced that the government has adopted a bill extending a mortgage moratorium to the end of 2024 to help mortgage owners whose monthly instalments skyrocketed due to rapidly rising interest rates last year.
The mortgage moratorium scheme was introduced by the previous Law and Justice (PiS) government, and allowed mortgage owners to skip a maximum of four monthly payments in both 2022 and 2023, with no income criteria.
"The government has decided to extend a mortgage payment holiday," Tusk told reporters after a cabinet meeting on Tuesday.
Under a draft amendment to the to the mortgage loans adopted by the government a mortgage vacation will be offered to credit holders whose monthly instalment exceeds 30 percent of their household income, the Prime Minister's Office reported.
According to Tusk, apart from extending the scheme, the government had also increased its accessibility, while also raising the amount of aid for the people who had lost their jobs.
"This means that the state will be ready to pay mortgage instalments to help people who have found themselves in a difficult situation," Tusk said, adding that they would later have to repay them or ask for a partial reduction.
Providing more information, the Prime Minister's Office said: "The government will help credit holders who have a housing credit in PLN which does not exceed PLN 1.2 million (EUR 280,000), and will extend a mortgage payment holiday to the end of 2024." (PAP)
at/md/jch
