Do you have a loan for an apartment? – You’ll get money!

Interest-free assistance in paying off credit obligations? Sounds so nice that it’s fictitious … but it’s true, thanks to the Borrowers Support Fund.

You can apply for help from February 19, 2016. Can this solution really be the last resort for those in debt? What conditions must be met to get financial help from the fund? Today, we are taking a closer look at 500 plus for debtors.

PLN 1,500 every month … only for whom?

PLN 1,500 every month ... only for whom?

Unfortunately, only those who took out a loan for the construction or purchase of an apartment or a single-family house, regardless of the area of ​​the property and whether the loan was in foreign or national currency, will receive financial assistance. The money will be granted pursuant to the Act of 9 October 2015 on support for borrowers in financial difficulties who took out a housing loan.

“The purpose of the adopted act is to provide financial support to borrowers who, due to objective circumstances, find themselves in a difficult financial situation and are at the same time obliged to repay housing loan installments constituting a significant burden on their home budgets. The Act covers borrowers who have taken out a housing loan for the purchase of a dwelling or a single-family house.

The Act sets out the conditions

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That must be met by the borrower to be able to take advantage of the assistance granted to natural persons who are obliged to repay a housing loan in financial difficulties.

Assistance will be provided to the borrower who on the day of submitting the application for support will have the status of the unemployed or finds himself in a situation where the monthly installment of the housing loan exceeds 60% of the monthly income of the borrower’s household. “- according to the President’s Office.

The financial support is repayable, and the Borrowers Support Fund itself was created and financed by the banks that grant the most housing loans.

For 18 months

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Money from the fund will be paid for a maximum of 18 months. It is worth adding that the income that qualifies for the benefit – in the case of a single-person household – currently amounts to PLN 634, and in the case of a multi-person household – PLN 514. Whoever terminates the loan agreement and who terminated the employment contract or employment contract will not be supported due to his fault.

The exclusions also apply when the borrower receives a benefit from the insurer for work or is the owner or tenant of a dwelling. The repayment period is 8 years with a two-year grace period. Those who are interested in submitting an application for a benefit will find it on the website of the Office of Competition and Consumer Protection.

You can submit it to your bank. You don’t know what to do in this situation? You still have doubts, do you also have money from the fund? You can easily use the advice of our lawyers who will answer all your questions.

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