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Report: Polish banks asked to offer tailored solutions to FX mortgage holders

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Report: Polish banks asked to offer tailored solutions to FX mortgage holders

Poland's Office of Competition and Consumer Protection wants to secure agreements with banks regarding foreign exchange-denominated mortgage loans to allow each mortgage holder to be dealt with on an individual basis, according to a Dec. 23 PAP report featured in Rzeczpospolita.

Such an individually tailored approach to convert mortgage loans into Polish zlotys would reflect the exchange rate at the time the loan was granted, the regulator's head, Marek Niechcial, reportedly said, noting that this would be a fairer approach than a general legislative solution and would mean that forex mortgage borrowers would not receive preferential treatment compared to mortgage holders with zloty-denominated loans.

Niechcial also said the regulator was considering setting a limit for mortgage-related debt, according to the report.