Is this the end of “Safe 2 percent credit”? ZBP assesses

Banks granted 40.8 thousand loans in the “Safe 2% loan” program – said Agnieszka Wachnicka, vice-president of the Polish Bank Association. Over 69.3 thousand applications were submitted.

By November 23, banks had granted 40.8 thousand. housing loans under the “Safe 2% Credit” program . The total value of loans granted under the program amounts to nearly PLN 16.55 billion. The number of applications submitted under the program amounted to over 39.3 thousand. conclusions – said Agnieszka Wachnicka, vice-president of the Polish Bank Association, at a press conference.

She added that The average value of a loan granted under the program is PLN 405,000. zloty. She also assessed that the program’s budget may soon be exhausted.

Currently, the budget utilization amounts to PLN 745 million, while the entire budget is PLN 941 million. The average amount of the subsidy – calculated on the basis of already granted applications – reaches over PLN 18,000. PLN, this is the subsidy from the budget. The program budget may be exhaustedhowever, since there are no limits this year, the decision to suspend granting loans under the program may be made at the beginning of next year – said the vice-president of the Polish Bank Association.

As part of the “Safe 2% loan” program the state subsidizes borrowers to loan interest rates exceeding 2%. Another element of the program is Housing Accountwhere you can save for an apartment with an additional bonus from your budget.

4,490 Housing Accounts were opened, and the value of funds accumulated on them is PLN 10 million, which means that on average over PLN 4,000 was accumulated on one account. zloty – said Agnieszka Wachnicka.

ZBP representatives said that they will recommend to the new government to extend the operation of the Housing Account, and they suggest linking saving on this account with the possibility of taking out a cheap home loan. In the case of the “Safe 2% loan” itself. ZBP representatives explained that “they support every program that supports and activates the financing of housing construction.”

We will demonstrate that the formula of the government program supporting housing financing should be the same, but we are open to changes – said Tadeusz Białek, president of the Polish Bank Association.

ZBP forecasts show that mortgage loans under the “Safe 2% loan” will constitute a large part of housing loans granted this year.

We assume that at the end of 2023, almost 160,000 will be granted. loan agreements, including approx. 65 thousand “Safe 2% loan” agreements. The total value of loans granted may reach over PLN 60 billion, i.e. PLN 61 billion or PLN 62 billion. – said Jacek Furga from the Polish Bank Association.

The Act on State Aid in Savings for Housing Purposes, in force since July 1, introduced, among others, “Safe loan” with state subsidy for installments and a housing account with the possibility of obtaining a bonus from the state budget. “Safe loans” are to be granted until December 31, 2027 by banks that will conclude an agreement with BGK and introduce the product to their offer.

Accordance with the law A “safe loan” can be granted for the first apartment. Its amount cannot exceed PLN 500,000. PLN or 600 thousand PLN if the borrower runs a household together with his or her spouse or has at least one child. The own contribution cannot be higher than PLN 200,000. zloty. If there is no own contribution or incomplete contribution, you can use the BGK guarantee.

The installment subsidy is valid for 10 years. During the period of application of the subsidies, the interest rate on the loan, according to explanations on the Ministry of Energy and Technology website, will be 2 percent for the borrower. plus margin, commission and other bank fees – if charged. If, during the period of subsidies to installments, the borrower sells the apartment, rents it to another person or buys another property, will lose the right to subsidiesand the support obtained after this date will have to be returned.