About the seminar:
The almost complete state's abandonment of influencing the sphere of housing loans in 2004-2008 and 2017, and cases of temporary and chaotic moves (such as the so-called credit holidays in 2022) meant that - according to Dariusz Filar's analysis - the situation of holders of approx. 2.5 million active loans (with a total value of PLN 470.2 billion at the end of 2022) is very diverse, and this will cause a serious social problem.
The internal diversity of the borrowers' environment is accompanied by a weakened condition of the banking sector (very significant increase in provisions for legal risk, decrease in equity, low ROE). Banks in such conditions have limited possibilities of credit expansion.
The above-mentioned problems are compounded by the effects of an unexpected rapid increase of inflation. Increases in interest rates led to the collapse of the housing loan market, exposing its weaknesses.
In order to improve the situation on the market, it is necessary to introduce a new model. This model will be presented by Andrzej Reich. The assumptions that it should meet, the detailed instruments, and necessary actions were formulated in the report prepared on the basis of experts' opinions, and after consultations with stakeholders. The new model is to be flexible, free from legal risk, better protected against market risk, and include a better product offer. In such a market, the state, as a regulator, is to intervene ex-ante, not ex-post, and customers must have the minimum financial knowledge.
In the third part of the seminar, Michał Polasik will present the model of the so-called sustainable mortgage that allows to overcome both economic and legal challenges on the current market. The current economic model of mortgage loans accelerates the real repayment of loans in a situation of increased interest rates, which results in problems for customers, banks, and the entire Polish economy. In turn, the complexity of the mortgage loan, low level of consumers' economic education, and the established line of court decisions generate a high level of legal uncertainty in the housing real estate financing market.