The Brzóski team wants a statutory model loan agreement. Is this the end of disputes with banks?
A new idea of the Brzóski team: A uniform specimen loan agreement is to protect customers and reduce mortgage costs.
In the new deregulation package published on April 16, the “We check” initiative, the Brzóski team proposed the addition of an attachment to the mortgage Act containing a statutory model loan agreement.
“The introduction of a uniform model loan agreement will protect consumers and financial institutions against legal risk. Simple rules are lower costs and greater security for citizens,” emphasize the authors of the proposal.
Uniform model of the loan agreement and the fight against abusive provisions
“Poland is currently the only market in the EU, where questioning contractual provisions has become the subject of abuse on the part of compensation office on such a huge scale threatening the stability of the financial sector, so it is difficult to look for direct experience in other markets,” reads the justification for this project.
According to the originators of the changes, the element increasing the costs of the mortgage to excessively is the legal risk resulting from the possibility of undermining contractual provisions.
“The introduction of a uniform template (or templates for various types of loans) of a mortgage agreement in the form of e.g. an attachment to the mortgage act would avoid disputes related to the abusiveness of individual clauses and would contribute to a better understanding of consumers’ recording of contracts who would always receive standard provisions,” say the authors of the draft changes.
A uniform model loan agreement will reduce credit costs
The introduction of such a solution would reduce the cost of credit, and thus increase its availability.
“Such a conventional model that would have the rank of a law and at the same time took into account the interests of both parties to the contract, as well as other domestic and EU regulations, would create a new situation on the Polish market, in which banks would compete mainly through the amount of interest rates on loans and possibly other amenities for customers. In turn, customers would be sure that – regardless of the selected bank – their rights are properly secured, and the basic terms of credit relationships (including Debt collection procedures or verification of security) are carried out uniformly for all lenders, “we read in the description.
