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Legal Effects of Unenforceability or Invalidity of an Agreement for a Denominated in or Indexed to a Foreign Currency Mortgage Loan in The Light of Judicial Decisions

100%
Mroczkowski R.
Financial Law Review
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2021
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vol. 24
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issue 4
1-23
EN
An introduction of mortgage currency loans to the banks offers, particularly the indexed to a foreign currency and denominated in a foreign currency loans, based on agreements containing abusive clauses which lead, in the consumer/borrower's individual relations, to the violation of his legal and economic interest and on the financial system level to the creation the risk of its instability (systemic risk). In many European countries, in Hungary for instance, the problem was solved ex post on the statutory level by the legislator’s interference. In others, for example in Romania, such statutory solutions were contested by the constitutional courts. In the remaining ones, such as Poland, Spain or Austria, the problem was left to be solved within the individual cases by the civil or arbitration courts. The latter solution requires however the development of lines of jurisprudence solving the contentious legal issues resulting from the complicated legal relations that occurred between the banks and the consumers/borrowers. Given the above, the author undertook to analyse the judicial decisions of the European Court of Justice, Polish common courts and the Supreme Court in order to indicate these nodal issues which often evoke the discrepancies in jurisprudence, as well as to present the possible solutions. The importance of the issue is crucial not only to the economic condition of the households and financial results of particular banks, but also to the stability of the whole financial sector. The implementation of the research goal adopted in this article requires the application of legal research methods, such as in particular the general theoretical method and the formal-dogmatic method.
2
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Kredyty hipoteczne w Polsce w kontekście stabilności finansowej i makroekonomicznej

100%
Kata R.
Zeszyty Naukowe PWSZ w Płocku. Nauki Ekonomiczne
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2015
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vol. 2(22)
183-196
EN
The dynamic development of the housing loans market in Poland in years 2001-2014 is important for the financial stability of the banking sector and macroeconomic stability. In this context, are important such characteristics of the mortgage portfolio as: monetary and temporal structure of loans, the conditions on which loans, the security level value of residental real estate loans, the criteria for verifying the creditworthiness of customers. Important is also fact that long-term mortgages were financed using short-term deposits. These features of the housing loan portfolio in Poland create many threats to financial and macroeconomic stability.
3
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Debt relief or exit: the long-term effects of forex loans on Latvian households

88%
Saulītis A.
Critical Housing Analysis
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2022
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vol. 9
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issue 1
48-56
EN
The stubborn decision of the Latvian government to join the eurozone at any cost put a great burden on Latvian households after the crisis of 2008. Nevertheless, no popular protest movement emerged to change the course of this decision. This study discusses why Latvians undertook individual strategies to cope with the forex loan crisis. Particularly, I look at the choice between formal debt relief procedures and emigration as alternative individual strategies for defaulted debtors. These programmes have not reversed the negative migration trends or significantly decreased the number of Latvian households in arrears. Debt discharge is mainly attainable for wealthy individuals who are able to mobilise their financial and kinship resources. Worse-off debtors cannot attain debt discharge or are stigmatised during the process. Alternatively, emigration has offered a way to cope with overindebtedness and keep up with mortgages and consumer loan payments for a much larger segment of the debtor population.
4

Zastosowanie taksonomii do aktualizacji wartości zabezpieczenia hipotecznego nieruchomości mieszkaniowych w bankach na przykładzie Wrocławia

63%
Bywalec M., Makowska A.
Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie
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2018
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issue 3(975)
101-123
PL
Regulacje KNF w zakresie kształtowania ryzyka kredytowego w portfelach banków i zarządzania nim obligują je do przeszacowywania wartości nieruchomości będących zabezpieczeniem kredytów hipotecznych. Korzystając z możliwości zastosowania na polskim rynku analizy statystycznej do określenia wartości nieruchomości, podejmuje się prace nad zastosowaniem innych metod określania wartości nieruchomości niż wskazane w Rozporządzeniu Rady Ministrów z dnia 21 września 2004 r. w sprawie wyceny nieruchomości i sporządzania operatu szacunkowego. Celem artykułu jest wskazanie możliwości aplikacyjnych oraz konsekwencji zastosowania metody taksonomicznej do aktualizacji wartości zabezpieczenia hipotecznego w bankach. W artykule porównano wyceny nieruchomości tradycyjną metodą porównywania parami (mpp) z wyceną metodą wzorca. Aktualizacja bankowego portfela nieruchomości mieszkaniowych dokonana na koniec 2016 r. metodą mpp to 50 wycen skorygowanych in minus i 47 in plus. Aktualizacja z wykorzystaniem metody wzorca wskazała 29 korekt in minus i 68 korekt in plus w wariancie I oraz 32 korekty in minus i 65 in plus w wariancie II. Zauważalna jest przewaga wzrostów wartości, co skutkowało większą zaktualizowaną wartością portfela, który w wariancie I osiągnął 33 742 098,85 zł, a w wariancie II 33 754 650,85 zł. W obu wariantach wartość portfela nieruchomości po zaktualizowaniu metodą wzorca wzrosła.
EN
The Polish Financial Supervision Authority̛s regulations on credit risk management in bank portfolios require banks to update the value of real estate that provides collateral for mortgages. Using statistical analysis to determine the value of real estate on the Polish market, scientists and market practitioners are working on other methods of determining the value of real estate, as specified in the Regulation of the Council of Ministers of 21 September 2004 on the Real Estate Valuation and Appraisal Report. The paper explains the uses and consequences of taxonomy to update the value of mortgage collateral in banks. It presents a comparison of a traditional real estate valuation method, paired comparison, with the effects of the valuation of the taxonomic method pattern. As a result of updating the value of residential property portfolios held by banks, done at the end of 2016, there were 50 valuations corrected in minus and 47 in plus. Updating the value of the real estate portfolio using based on taxonomic analysis indicated 29 corrections in minus and 68 corrections in plus in variant I and 32 in minus and 65 in plus in variant II. There was a noticeable increase in value, which results in a higher value of the portfolio, which in variant I reached PLN 33 742 098.85 in variant II PLN 33 754 650.85. In both variants, the value of the real estate portfolio increased after the pattern update.
5
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Postrzeganie kredytów hipotecznych wyrażonych w walucie obcej przez młode pokolenie w Polsce

51%
Buta B.
Finanse i Prawo Finansowe
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2022
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vol. 2
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issue 34
67-84
EN
The purpose of the article: The aim of the article is to show a point of view of young potential mortgagors on the topic of mortgage loans denominated in a foreign currency. Methodology: Analysis of data gathered by questionnaire entitled “The opinion of mortgage loans denominated in a foreign currency by the young generation in Poland” containing both closed-ended and open-ended questions. The research was conducted using CAWI method on 327 respondents. The selection of the sample was random. Results of the research: The analysis of data provided by questionnaire revealed that young generation fears loans inter alia those denominated in foreign currency. Fear of the loans is caused by bad experiences their relatives and lack of knowledge respondents themselves, who more than once showed poor familiarity in terms of loans and repayment terms. Although they would not like to take any loan, they are still aware of its benefits and do not deny possible necessity of taking mortgage loan. Preventive measures are rather ineffective with no sight of improving. It is necessary to mend a level of awareness especially concerning credit risk and interest rate risk which was revealed based on experience related to the KNF and UOKiK campaigns.
PL
Cel artykułu: Celem artykułu jest ocena opinii młodego pokolenia na temat kredytów hipotecznych wyrażonych w walucie obcej. Metodyka: Analiza przeprowadzona została na podstawie danych zebranych za pomocą badania naukowego w formie ankiety o tytule „Postrzeganie kredytów hipotecznych wyrażonych w walucie obcej przez młode pokolenie w Polsce” zawierającej pytania zamknięte i otwarte. Badanie przeprowadzono na losowej próbie 327 obiektów za pomocą metody CAWI. Wyniki/Rezultaty badania: Analiza wyników badania wykazała, że młode osoby charakteryzują się awersją do kredytów wszelkiego typu, między innymi kredytów wyrażonych w walucie obcej. Strach przed tymi produktami w dużej mierze bierze się ze złych doświadczeń osób bliskich oraz niewiedzy samych ankietowanych, którzy niejednokrotnie wykazywali się słabą znajomością kredytów oraz warunków spłacania tego zobowiązania. Pomimo złego nastawiania bardzo wiele osób nadal planuje i zamierza zaciągnąć kredyt oraz dostrzega ich zalety. Brak wiedzy na temat kredytów oraz nieefektywne sposoby uzupełnienia jej mogą skutkować niespłacaniem zobowiązania. Konieczna jest poprawa efektywności programów informacyjnych instytucji publicznych związanych z ryzykiem umów kredytowych dla klienta, co wykazano na bazie doświadczeń związanych z kampanią KNF i UOKiK dotyczącą ryzyka stopy procentowej.
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