Poland’s Ministry of Finance is planning for a draft law on payment suspension for mortgage holders to enter into force from March 1, 2024, the ministry has said in a letter to the bill’s consultants.
The mortgage moratorium scheme was intended to help mortgage owners whose monthly installments skyrocketed due to rapidly rising interest rates. It allowed them to skip a maximum of four monthly payments in both 2022 and 2023, with no income criteria.
“The shortened deadline for taking a position is due to the need for the provisions of the law to enter into force from March 1, 2024, so that the so-called “credit holidays” can be used in the first quarter of 2024,” the letter said.
The draft on the mortgage moratorium for 2024 has been sent for consultation. (PAP/Business World Magazine)
