In line with the objectives of these regulations the client will be getting the money for a certain time, says Jerzy bubble, vice president of the Polish Bank Association.
– This offer is addressed to a group of older people who often do not have heirs. They are, however, large financing needs of your future life, especially at small pensions. In this way, they can get additional financial support, based on the value of its housing – explains the bubble.
The heirs can repay the loan and keep the property
apartment so forfeited , but in the case when they are heirs, they can keep the property.
– Within 12 months after the death of the borrower’s heirs will be able to repay the loan and keep the property. Or the bank in case the heirs do not want this apartment to recover, will have to pay them the rest of the apartment – explains Vice President of the PBA.
Exchange rate risk
What to the fact that the rules are necessary no doubt we have. Similar services already offer so-called. mortgage funds. Now they will be able to do well as banks. There has also been a solution that enables the provision of a reverse mortgage in a foreign currency. The idea raises some controversy. It is beside the point – cuts Piechowiak about Luke, chief economist at the site Bankier.pl.
– Reverse Mortgage is not for life, but for some time, for example. For 15 years. Let’s say that in 14 years of collecting such payments pensioner dies. The heirs will have one year to the settlement of claims paid by the bank, or the repayment of the loan if they want to keep the property. In a situation where there is exchange rate risk, for example. Within 2 – 3 years of the euro or Swiss franc zdrożeje by 20 percent., And heir to continue earning in dollars, it will have a greater amount of the loan to pay off – says Piechowiak.
The problems of foreign currency loans could be convinced hundreds of thousands of Poles who have debt in Swiss franc.
the PBA against reverse mortgages in foreign currency
One of the arguments for such a solution is the care of older people who live abroad and have property in Poland. The task of the experts is a small group of people.
skeptical to such a solution, which is the reverse mortgage loan in foreign currency, also approached the Polish Banks Association, says Jerzy bubble.
– It is difficult to imagine to pay any installment bank loan in foreign currency, and then satisfied by the sale of this property on the domestic market, the Polish zloty – says bubble.
FSA does not see the danger of such a solution
Dangers for it does not see the Financial Supervision Commission. According to Maciej Krzysztoszka the FSA is an entirely different product than a traditional mortgage.
– In this case, the decision belongs to the bank and is on his side formed a kind of commitment. It is in fact protected property and the bank agrees to pay the monthly installments for a specified amount or once a specified amount in advance – says Krzysztoszek.
The law on reverse mortgage should enter into force at the beginning of next year.
Experts safety reverse mortgage.
source: TVN / x-News
Dominik Olędzki, Celebrating
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