Poles rushed for “Safe Credit 2 percent”. The expert indicates the reasons

On August 3, a month has passed since the launch of the “Bezpieczny Kredyt 2 percent” program. The program can be used by people who have not turned 45 on the date of submitting the loan application, but in the case of people running a household together, it is enough that one of them is under the age of 45. of them (provided both are parties to this loan agreement.) A person taking out a housing loan and persons forming his household before the date of its granting will not be able to hold the ownership right to a flat or a single-family house.

Safe Loan 2 percent After a month. Over 18,000 conclusions

The program provides for subsidies to the loan for 10 years, so that the interest rate on the liability throughout this period is 2%. plus the bank’s margin. The source of financing of subsidies to installments is the Government Housing Fund already existing in Bank Gospodarstwa Krajowego.

– After a month of offering a preferential housing loan, the repayment of which will be supported by the government for the first 10 years, one thing can be said – there was no surprise. The most attractive of the existing instruments of financial support by the government for obtaining housing ownership met with great interest, as expected – comments Dr. Jacek Furga, chairman of the Real Estate Financing Committee of the Polish Bank Association.

Why are we in a hurry to apply for credit?

According to the data of the Polish Bank Association, in less than a month (data as of July 27 this year), Poles submitted 18,0232 loan applications, and the number of concluded agreements is 651.

Referring to these data, Dr. Furga points out that “many loan applications are processed in banks and it is difficult to say how many applicants do not meet the conditions of the program and how many will not be able to demonstrate adequate creditworthiness”. The documents are being completed. The head of the Real Estate Financing Committee of the Polish Bank Association believes that “in the coming months, the number of new applications will probably decrease. In his opinion, the rush to submit an application as soon as possible resulted from three factors.

– Firstly, for fear that, as in the case of the Apartment for the Young program in 2016, there may be no funds to obtain a loan this year. The next two factors are the rapidly shrinking supply of flats to be purchased within the credit limit and the rapid increase in prices eliminating some flats from the credit availability pool – explains Dr. Furga.

A representative of the Polish Bank Association points out that the first fear was dispelled by the Minister of Development and Technology, Waldemar Buda, “by declaring that anyone who applies this year and meets the conditions of the program will receive a Safe Loan 2 percent”. According to Furga, it will be more difficult to deal with the other factors. The mere announcement of the launch of the program caused a new wave of price increases, and in the second quarter, price increases of up to 5 percent have not been recorded since the period before the 2008 crisis.

The program sets the upper limit of the loan amount – PLN 500,000. PLN for a single, or 600 thousand. PLN for a married couple or a parent with a child. Dr. Furga poses the question “is it really worth buying a flat, even for an extremely cheap loan, just because it is for sale and is within the acceptable credit limit, but it does not meet not only our dreams, but also functional expectations.” Representative of the Polish Bank Association reminds you that you have to live in the selected apartment for at least 10 years.

– The final purchase decision is always made by the customer, and banks will do a lot to help us realize the dream of our own M – concludes Dr. Furga.

So far, nine banks have joined the “Safe Credit 2 percent” program. These are: PKO BP, Pekao, Alior and VeloBank, as well as four cooperative banks (Bank BPS, BS Rzemiosła in Krakow, BS in Brodnica and SGB- Bank SA) At the end of July, an agreement with BGK was signed by Bank Spółdzielczy in Krakow.