Banks have 21 days from submitting a complete application to issue a decision on granting a loan or refusing to grant financing. However, due to the increased interest resulting from the “Safe 2% Credit” program, this time may be extended.
Even before the start of the “Safe 2% Credit” program. We warned customers that the waiting time for a credit decision may be longer due to the increased number of applications. – It should be borne in mind that due to the huge number of applicants, applications will be processed for a long time. I advise clients to negotiate long terms with sellers in preliminary contracts, preferably 3 months to complete credit formalities. The monthly period will be difficult to meet, said credit advisor Karol Zimnoch in an interview with “Wprost”.
2% secure loan Lots of loan applications
This actually happened. “Dziennik Gazeta Prawna” informs that until last week, banks concluded 2,706 loan agreements with additional payments. Over 32,000 were submitted. conclusions. Banks have 21 days – counting from the date of submission of the complete application – to consider it and issue a decision to grant or refuse a loan. “DGP” informs that some institutions are no longer viable. This is not the first time that banks process applications longer than stipulated in the regulations – during the peak of real estate sales in 2020, customers also waited 6-8 weeks for a decision.
Banks are not able to increase employment overnight to serve a larger number of customers. The interest in loans is wave-like and will probably stabilize in a few months. When it was possible to start submitting applications on July 3, all customers who were waiting for the program to start went to the banks. Their number will decrease over time, especially since restrictions in the program are to be introduced next year. It has not yet been announced whether they will apply to the number of customers who will be able to receive the subsidy or whether it will be a limit of an amount.
2% secure loan The most important information
Let us remind you that the program can be used by persons who are under 45 years of age on the date of submitting the loan application, and in the case of persons running a household together, it is sufficient that one of them is under this age (provided that both of them are parties to this loan agreement). ). A person taking out a housing loan and persons belonging to his or her household will not be able to have ownership rights to a residential premises or a single-family house before the date of its granting.
The amount of the “Safe Loan” cannot exceed PLN 500,000, and in a situation where the borrower runs a household together with his or her spouse or has at least one child – PLN 600,000. The own contribution may amount to a maximum of PLN 200,000. In the absence of own contribution or incomplete contribution, you can use the guarantee of Bank Gospodarstwa Krajowego (BGK). The installment subsidy is due for 10 years, and the loan is repaid in the form of fixed capital installments (decreasing capital and interest installments). During the period of subsidy application, the loan interest rate for the borrower will be 2 percent plus margin, commission and other bank fees (if charged).