According to economist Adam Czerniak, the new government will probably withdraw from the 2% Safe Credit. However, the inability to use this loan next year will not be related to the change of government.
On November 1, four months passed since the introduction of the 2% Safe Credit. The program is addressed to people up to 45 years of age who are thinking about buying their first apartment. The state subsidizes the loan with monthly installments for 10 years. Such a loan can be granted in a maximum amount of PLN 600,000. PLN in the case of borrowers who run the farm together with their spouse or when the borrower’s household includes at least one child, in other cases – up to a maximum of PLN 500,000. zloty. A loan with subsidized installments may be granted without the borrower’s own contribution or with an own contribution not exceeding PLN 200,000. zloty.
Safe Credit 2%. “He will die at the beginning of January”
Experts point out that banks received many more applications than predicted by the 2% responsible for the implementation of Safe Credit. Ministry of Development and Technology.
– We have over 60,000 applications, 33,000 signed contracts, we will probably end up with 40,000. This means that when BGK receives information on the use of funds at the beginning of January 2024, the recruitment of further applications will be automatically suspended. This is what the current law states – says Adam Czerniak from Polityka Insight, head of the Institutional and Political Economics Department of the Warsaw School of Economics, in an interview with TVN24 Biznes.
The act assumes that the acceptance of applications will have to be stopped when 90% of the funds for a given year have been used. of the money provided or 75 percent those budgeted for next year. The expert indicates that this means that next year it will not be possible to take out a loan under the government program.
– This program will probably die at the beginning of January – says Czerniak, adding that only in 2025 will we have another pool of budget funds allocated to the 2% Safe Credit.
What will the new government do?
According to the expert, the new government will probably withdraw from this program, and not only because it will not be possible to collect funds next year.
– Another reason is the effect of the program: it increased prices, had a small impact on the increase in supply, and it was mainly the richest Poles who benefited from it – explains Czerniak.
The TVN24 Biznes guest points out that the moment of introducing the 2% Safe Credit. in Poland was very unfavorable due to a strong limitation of supply, i.e. the number of available apartments.
– There was nothing to buy, and this basically resulted in an increase in apartment prices – explains the expert.