Polish banks to offer broad range of reverse mortgage options

Poland plans to significantly extend the scope of the planned reverse mortgage as owners of any property, regardless of age, will be able to participate in the scheme, the daily Rzeczpospolita writes citing deputy Finance Minister Jacek Dominik.

Bank customers will be able to use residential, commercial and agricultural properties to secure the reverse mortgage, Dominik said.

Also younger Poles will be eligible for such loans, although the young would get low monthly payments since the agreements would be extended over a longer period.