Banks are interested in giving loans, because they make money from them. There are a lot of people willing to get home loans, and banks receive a large number of loan applications.
And although the banks have significantly reduced the requirements of potential customers in recent months (less contribution, acceptance of income from self-employment and unwanted contracts), the sieves of credit analysts are still narrow. BIK estimates that 3 out of 10 loan applications were rejected.
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A positive credit history is counted, with a minimum of 10-20 percent. Private contribution, a stable source of income and no exorbitant cost of living, and the property itself should not have an overly complicated legal situation.
Let’s take a family of three with approximately 8000. PLN net per month. That’s more than the average family has. Banks will give them a housing loan in the amount of 730 thousand PLN. PLN – according to data from HRE Investments.
This amount is average, so half of the banks will be willing to borrow more and half less. The first group includes BNP Paribas and ING, where they can borrow 850-860 thousand PLN. On the other hand, we can find PKO, Millennium and Alior. In these institutions, the family can borrow from 650,000 to 700,000 PLN. zloty.
The displayed amounts show your maximum creditworthiness. And what will happen when NBP finally raises interest rates? Then the repayments for almost all zloty housing loans should increase.
Today’s forecast is that the first rate hike may occur within one year. This will not be devastating for the average family budget, because one increase may mean an increase in premiums by a few or twelve zlotys per 100 thousand borrowers. zloty.
If we are to look into a more distant future, today’s forecast is that any rate hike will have to take place slowly.
Only in about 3 years the cost of money in Poland will return to the level it was before the epidemic. Thus, our forecast is that in 2024 loan installments may be between 15 and 20 percent. top of the day.
The rise is significant, but it should be probable – especially if we take into account that the Central Bank forecasts that in the same time perspective, average wages in Poland could rise by 20-25%.