Support is provided under the Act of 9 October 2015 on Support of Borrowers in a Difficult Financial Situation, Who Took a Housing Loan (Journal of Laws 2015 item 1925).
The support consists in granting returnable monies assigned for repayment of the borrower’s liabilities under the housing loan, for a period no longer than 18 months. If during this period circumstances arise, excluding the possibility of receiving support (e.g. the borrower found a job and job loss was the only condition of eligibility for support, or the level of income per capital in the household rose), payment of the support will be stopped.
The amount of support is determined on a case-by-case basis depending on the amount of monthly principal/interest payment made by the borrower, whereas the amount of support may not be higher than 1500 PLN monthly. In case of loans granted in a foreign currency the amount of maximum support shall be the equivalent of the amount of 1 500 PLN converted at the average NBP rate (from the day of maturity of the monthly payment of the housing loan, due according to the housing loan repayment schedule in the month preceding the month of submitting the application for support).
The support shall be granted on the basis of an agreement signed between the Bank and the borrower.
The support is paid in an amount constituting the equivalent of upcoming principal and interest payments of the housing loan, subject to the above-mentioned amount restriction.
Repayment by the borrower of support shall be made after two years from payment of the last instalment of the support during 8 subsequent years in equal non-interest monthly instalments.
Borrowers may submit applications for support starting from 19 February 2016 in the Bank’s branches.
Conditions for providing support
Support may be granted if at least one of the conditions below is fulfilled:
- on the day of filing the application for support the borrower has unemployed status;
- the borrower bears monthly cost of servicing the housing loan in an amount exceeding 60% of the income of his household;
- monthly income of his household, net of monthly cost of service of the housing loan, does not exceed:
- in case of a single-person household – amount indicated in art. 8 sect. 1 item 1 of the Social Assistance Act, indexed in keeping with provisions of this Act,
- in case of multiple-person household – the multiple of the number of members of the borrower’s household and the amount indicated in art. 8 sect. 1 item 2 of the Social Assistance Act, indexed in keeping with provisions of this Act.
Ograniczenia w otrzymaniu wsparcia
Support cannot be granted:
- If job loss occurred in result of termination of the employment agreement with notice from the borrower or termination of the employment agreement without notice due to the employee’s fault pursuant to art. 52 § 1 of the Labour Code;
- If one of the co-borrowers obtained support;*
- If the housing loan agreement was terminated;
- For the period, in which the borrower is eligible for a job loss benefit under the loan repayment insurance agreement, guaranteeing payment of a benefit in the event of job loss;
- if on the day of submitting the support application the borrower:
- is the owner of another flat or single-family house;
- holds another co-operative tenancy title to a flat; a co-operative ownership title to a flat; a title to a single-family house in a housing co-operative or title to a flat, being built for the purpose of transferring their ownership to the members;
- is a tenant of another flat or single-family house.
* unless the support is not being provided anymore and the period of support provided to-date has not exceeded 17 months – in such case the total period of support granted to the borrowers for repayment of the housing loan secured with a mortgage written on the same financed asset cannot exceed 18 months..
You will find details of the terms and conditions of granting support in the Act of 9 October 2015 on Supporting Borrowers in a Difficult Financial Situation, Who Took a Housing Loan.
The process of applying for support
The condition for receiving support is submitting in a Bank Millennium branch an application to grant support together with documents confirming source and amount of income received or certificate from the appropriate Labour Office of gaining the status of unemployed person. Applications to grant support may be submitted by 31 December 2018.
If the application is accepted the borrower shall sign an agreement on granting support. The agreement shall be signed within 30 days from filing the complete application.
The granted support shall be provided by Fundusz Wsparcia Kredytobiorców to the Bank, of the person repaying the housing loan instalment.
Stopping support payments
Payment of support shall be stopped in case of:
- loss by the borrower of unemployed status – upon end of the month coming after the month, in which loss of this status occurred,
- sale of the financed asset – on the day of receiving information about the sale,
- termination of the housing loan agreement – on the day of end of the period of termination notice,
- undertaking execution actions with respect to the financed asset – on the day of undertaking the first execution action,
- loan repayment – on the day of repayment of the last instalment,
- increase of monthly income or decrease of the monthly instalment leading to failure to satisfy the support trigger defined in art. 3 sect. 1 item 2 of the Act,
- increase of monthly income or decrease of the number of members of the borrower’s household instalment leading to failure to satisfy the support trigger defined in art. 3 sect. 1 item 3 of the Act.
Return of the support
After 24 months from the payout of the last support instalment the borrower shall return the received support in the course of 8 years. The return shall be made in non-interest monthly instalments (if the support was provided under the Act and no ineligible support was provided). The Borrower shall be informed by the Bank about the schedule of repayment of the support, the instalment amounts and number of the account for return of the support.
In case of sale by the borrower of the financed asset the support shall be returned within 30 days from the date of sale.
Ineligible support shall be deemed to be support paid:
- despite arisal of circumstances constituting the basis for stopping payment of support, mentioned in art. 12 of the Act
- on the basis of untrue information or counterfeit documents or in other cases of wilfully misleading by the person, to whom the support was granted.
A borrower, who received ineligible support, shall promptly return an amount equal to the amount of granted support together with statutory interest accrued from the day of provision of proceeds thereof.
- link opens in new windowAct - in Polish
- link opens in new windowRequest for support - in Polish
- link opens in new windowAppendix 1 - to request for support - in Polish
- link opens in new windowAppendix 2 - to request for support - in Polish
- link opens in new windowAppendix 3 - to request for support - in Polish
- link opens in new windowAppendix 4 - to request for support - in Polish