In recent weeks, there has been much talk about the fact that in the fourth quarter banks may experience a real storm of borrowers.

Start to apply for a mortgage


How is it actually Is the prospect of having at the start to apply for a mortgage up to 10 percent? their own contribution made Poles hurry? Or maybe at least some of them prefer to wait for the amendment of the act on the government program “Apartment for young people”?

  • Indeed, already in October, we observed the first increases in lending compared to previous months – says Jessica Brown, director of the Good Finance Bank Mortgage Banking Office.
  • We expect that the next two months will bring even greater dynamics, primarily due to changes in the terms of granting loans, coming into force from January, as well as the current attractive interest rates resulting, among others from recent interest rate cuts – he adds.

More contracts from the beginning of 2014


The latest data of the Credit Information Bureau show that as early as in the first half of 2014, banks granted 2.6 percent more housing loans, compared to the same period last year. In addition, the value of concluded contracts increased by 10.2 percent.

According to experts, there are several reasons for this. First of all, the real estate market is still receiving money from bank deposits, after each subsequent rate reduction. However, they are to a large extent cash transactions or slightly supported by credit because they are of an investment nature.

However, many people who need a mortgage to meet their own housing needs, have decided to anticipate further changes and apply for it at banks before the changes are implemented.

However, this is not the only factor that has a positive impact on the credit market this year. Interest rates remain at a record low. The low-interest-rate environment affects both the attractiveness of interest costs, and thus the number of installments and, as well as the creditworthiness itself.

What awaits us in 2015?


The conditions for granting loans will tighten: from January 1, 2015, your own contribution will have to amount to at least 10%. property values.

  • This change for some potential borrowers means a decrease in loan availability – notes Jessica Brown. – Poles do not have very large savings, and 10 percent. the value of the flat is a considerable amount, however, not everyone who wants to buy a property can save that amount.
  • At the beginning of the year, we are also awaiting an amendment to the MDM Act. The provisions will be somewhat relaxed, and the amendments to the Act will slightly offset the impact of the requirements for higher own contribution resulting from Recommendation S, especially since the funds from the program are treated as own contribution – he adds.

At banks, the number of mortgage loan applications has been growing since October.