An extension of the mortgage moratorium will be one of the Law and Justice's (PiS) first initiatives in the Sejm, the lower house, after the elections, Mateusz Morawiecki, the Polish prime minister said on Wednesday.
The Polish government will prolong the existing mortgage moratorium to help borrowers cope with high interest rates but this time income criteria will be introduced, Mateusz Morawiecki, the Polish prime minister, has announced.
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A state subsidised mortgage programme aimed at first-time buyers offers some benefits to those who qualify for it but at the same time has led to an increase in house prices and made it harder for other buyers, according to a report by AMRON-SARFiN, a housing financing researcher affiliated with banking lobby ZBP.
The government-subsidised mortgages for the purchase of the first home will cost the state budget less than PLN 1 billion (EUR 225 million) this year, but the cost will increase to PLN 1.5 billion (EUR 340 million) in the following years, a deputy finance minister has said.
The Court of Justice of the European Union (CJEU) ruled in a judgment announced on Thursday that consumers can demand compensation from banks beyond the reimbursement of monthly installments paid if a mortgage contract with unfair terms is declared invalid.
Most FX loans were denominated to CHF when the Polish national currency was strong, but later on the Swiss franc appreciated rapidly, leaving the customers with extensive debt to pay off.
The Polish government has unveiled a subsidised mortgage scheme dubbed First Home aimed to help people under the age of 45 buy their first homes.
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