Prime Minister Mateusz Morawiecki declared that the credit holiday will be extended for the whole of 2024. However, income criteria will be applied.

“The decision on this issue has already been made. We are extending the credit holiday for the entire next year, but the income criteria will be applied. We do not want the wealthier, the more affluent people to benefit from them. Those who can afford to repay, they should repay”, said Morawiecki in an interview.

In August, Prime Minister Mateusz Morawiecki stated that a decision on a possible extension of the 2024 loan holiday would be made by mid-September. Earlier, he did not rule out that such a regulation would include an income criterion or would apply to, for example, one half of next year.

Under the Community Financing for Economic Ventures and Borrower Assistance Act, borrowers were able to apply for four months of credit holidays in 2022 and can apply for credit holidays this year as well.

As a reminder, Business Insider Polska reported at the beginning of September that there would be a high-income criterion in the programme, but still more than 90 % of borrowers are expected to be able to suspend their mortgage instalments.

Prime Minister Morawiecki did not reveal the level of income thresholds for eligibility for the 2024 mortgage holiday. He only stated that he has instructed the development of income criteria that are fair.

“In our opinion, they should be analogous to those for the Borrower Support Fund. In that case, we are talking about the DTI indicator as a key indicator for assistance, or in simple terms, the level of a household’s credit burden. Such a criterion should be introduced, because it would correspond to what we have been saying for a long time, that credit holidays should be for those who need it”, said Tadeusz Białek, president of the Polish Banks’ Association, a few weeks ago.

Adrian Andrzejewski