The Regional Court in Katowice, in an order of 3 November 2022, granted security to the borrower for a claim to establish the content of the legal relationship arising from the PLN housing mortgage loan agreement by establishing that the interest rate of the loan consists solely of the bank’s margin of 2.19%.
In view of the above, according to the wording of the Court’s order, the Applicant will therefore only pay the capital instalment plus interest at an unchanging margin. The interest rate on the loan will be 2.19%. In practice, therefore, the loan instalment will be lower than at the conclusion of the loan agreement, as it will be reduced from PLN 6,700 to PLN 1,700.
The above decision of the Regional Court was primarily influenced by the fact that the Borrower was incorrectly informed of the economic consequences of the change in the interest rate and the actual scale of the unlimited risk resulting from the variable interest rate.
Undoubtedly, the decision of the Regional Court in Katowice, described above, will generate a lot of discussion and will be an impulse for borrowers to take action to recover the millions of zlotys they pay back to their banks every month.
If you have a loan with a variable interest rate and would like to find out whether there is a chance of removing the WIBOR – please contact us by e-mail or via the “Online legal advice” tab. – We will be happy to answer your questions and determine what steps to take in your case!