0% credit will start after all. “Money in the pot”
The 0 percent loan is very controversial, as it may result in a further increase in real estate prices.
The draft budget presented by the government reserves funds for housing programs, but they have not yet been allocated to specific actions. Minister of Funds and Regional Policy Katarzyna Pełczyńska-Nałęcz wrote directly on IX that no interest was foreseen from the funds for loans.
Prime Minister Donald Tusk will expect explanations from her on this matter, who stated that work on fulfilling the election promise is still ongoing.
– In my opinion, the amount allocated for housing in the budget for next year will also be enough to implement a credit program, i.e. a program that will allow many Poles waiting to buy an apartment to face the challenge the most expensive loan in the EU, that Poland has – said Krzysztof Paszyk on TVP Info.
The Minister emphasized that in Poland a home loan costs an average of 8 percent. – If we reduce the interest rate from 8 percent to 5-4 percent, then very often the cost of the monthly installment is 800-1200 PLN less. This is the goal of this project – said Paszyk. The head of the Ministry of Development and Technology emphasized that the ministry responsible for housing is his ministry, not the ministry of funds and regional policy.
– The first year of the credit program is about PLN 500 million. In the following years, it will of course increase, but it is not an amount that dominates the budget for housing – informed the minister. He emphasized that This program does not eliminate or exclude the social housing support program. – This can be reconciled and it must be reconciled – he added.
Paszyk also announced that after Wednesday’s meeting of the Economic Committee of the Council of Ministers, it will be possible to answer, “to a large extent,” the question of who will be able to benefit from this program. Asked whether the subsidy for the “0 percent loan” will also apply to the secondary market, Paszyk stated that the secondary market is also a “subject covered by this program.”
The Minister was also asked about “safeguards” in the 0 percent loan program that would prevent housing prices from rising, caused by the supply of money from credit. – We have quarterly limits on granting aid, which means we are counteracting the kind of demand peak that previously caused an increase in housing prices – said the minister. – There will definitely not be entire annual tranches, it will be limited, for example, to quarterly limits on applications that will be considered, so then we will stabilize and spread the amount of money that will reach the market over time to prevent a demand peak – he noted.
Source: Radio ZET/TVP Info/PAP
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