Age discrimination in loans should soon be a thing of the past. The National Council unanimously decided on Thursday that banks will no longer see life expectancy as the most important criterion in the future, but whether there is sufficient collateral.
Support for the proposed legislation was unanimous. It is also about the self-determination of senior citizens, said Justice Minister Alma Zadic. Green party colleague Ulrike Fischer emphasized that there is often a need for investments, especially in old age, for example for a barrier-free bathroom.
Liberal mandatary Christian Ragger also agreed. This anti-discrimination law for senior citizens is long overdue. ÖVP spokeswoman Michaela Steinacker pointed out that people in their mid-fifties were already facing the problem of loans.
“Free Riders” and “Bad Banks”
On the part of the SPÖ, Christian Drobits mainly tried to describe the change as a success of the social-democratic efforts. He called other factions “free riders”. NEOS mandate Nikolaus Scherak, in turn, pointed out that the arrangement currently in force was created under a Social Democratic chancellor. At the same time, Scherak defended the ‘bad banks’. Because these were bound by the requirements for the loans set by the National Council.
The new regulation stipulates that in principle lending must now be possible if the assets “offer sufficient guarantees to cover the (remaining) outstanding amount”. At the same time, it must be probable that the customers will be able to meet the ongoing obligations under the loan agreement during their lifetime. For the heirs, it applies that they can continue the current repayments of the loan and thus prevent realisation.
Shorter deadlines for cash finds
Previously, the National Council also had unanimously good news for finders. Finds up to 100 euros can be saved more quickly in the future if the owner does not get in touch. Now you have to be patient for another year, from May it will be only half a year. For more valuable items, the term remains one year.
Source: Krone
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