Sounds abstract right? On October 9, 2015, the Act on supporting borrowers in financial difficulties who took out a housing loan entered into force. What conditions must be met to receive support? However, it is known that not everyone will receive them, so what to do if we do not meet the statutory requirements?
How to deal with the loan? This support may be granted only if, on the day of submitting the application for support, the borrower has the status of the unemployed or if his monthly housing loan costs exceed 60% of the household’s monthly income. Of course, the source of financing support and the costs of its implementation is the Borrowers Support Fund.
Who will get help?
Unfortunately, it cannot be counted on by persons who lost their jobs as a result of termination of the employment contract by notice or if the contract was terminated due to the fault of the employee. Support cannot be granted to repay a housing loan if one of the borrowers has already obtained it, unless it is no longer granted and its duration has not exceeded 17 months. In this case, the total period of support granted to borrowers for the repayment of a housing loan secured by a mortgage established on the same subject of the loan may not exceed 18 months. Credit support may not be granted:
– If the housing loan agreement has been terminated.
– For the period during which the borrower is entitled to unemployment benefit resulting from the loan repayment insurance contract concluded, guaranteeing payment of the benefit in the event of job loss.
– If he is a tenant of another dwelling or a detached house.
– If on the day of submitting the application for support the borrower is the owner of another apartment or single-family house. It has other cooperative tenants’ right to a dwelling, cooperative ownership right to a dwelling, the right to a single-family house or a dwelling built to transfer its ownership to members.
It is the lender who will receive – from Bank Gospodarstwa Krajowego – the money allocated for repayment of the housing loan. These funds will not be transferred for more than 18 months. The amount of support is determined in PLN as the equivalent of the anticipated 18 monthly capital and interest installments of the housing loan. It must be taken into account that if the amount of the expected monthly capital and interest installment is higher than PLN 1,500 – the amount of PLN 1,500 is used to determine the amount of support. It is worth noting that the support is transferred in monthly installments, not higher than PLN 1,500, to a special account indicated by the lender.
What should you do to get financial support?
Of course, you must prepare an application, which must be submitted to the creditor by December 31, 2018. Art. 6. 2. of the Act says that the borrower: 1) provides the name and surname, address of residence, PESEL number, if issued, as well as the number of the ID card or the type and number of another document confirming identity; 2) submits, under pain of criminal liability for making false statements, a statement of: a) the existence of circumstances constituting the basis for granting support, including which of the prerequisites referred to in art.
3 clause 1 [informs when support may be granted], is the basis for applying for support, b) the conditions of all insurance contracts, on the basis of which he is entitled to unemployment benefit, including the date on which the period of payment of benefits expires under these contracts – in the event that he concluded a loan repayment insurance contract that guarantees the payment of benefits in the event of job loss, c) a ratio expressing the relation between the amount of the installment paid for a housing loan and the monthly income – in the event that the borrower applies for support under Article.