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Housing loans – decrease in the number of mortgages granted. BIK report

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In the first quarter of 2023, banks and credit unions granted as much as 53.3 percent less housing loans, the Credit Information Bureau (BIK) informed. The report added that home loans fell 42.7 percent year-on-year in March.

According to the Credit Information Bureau in a report published on Tuesday, in March this year. compared to March 2022, the housing loan market recorded significant drops, both in terms of the number of loans granted – by 42.7%, and in terms of value – by 43.1%. The average value of a housing loan granted was PLN 341.3 thousand. PLN and was lower by 0.7% on an annual basis. – given.

Housing loans – declines

According to the main analyst of the BIK Group, Waldemar Rogowski, March, compared to recent months, turned out favorably when it comes to housing loans.

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“In terms of numbers, the result was very good, because banks granted 10.4 thousand loans, while in February – only 6.7 thousand. In terms of value, banks granted housing loans in the amount of PLN 3.545 billion (PLN 2.248 billion in February). It is true that compared to March 2022, this is a 43% lower value, but we have not seen such a monthly sale of housing loans for 9 months (since June 2022)” – said Rogowski.

BIK also announced that by April 2, 2023, banks reported 1.126 million accounts covered by credit holidays worth PLN 280 billion.

Deterioration of the loan portfolio

Waldemar Rogowski pointed out that looking at the data, one can see a deterioration in the quality of the loan portfolio. “When the loan moratoriums were introduced, I assumed that the negative effect of the deterioration in the quality of PLN loans would be limited. However, participation in the loan moratoriums was not enough to fully slow down the increase in the loss ratio of PLN housing loans. , mostly granted in the Swiss franc. The reason for this phenomenon is the more and more frequent cessation of repayment of loan installments until legal decisions are made” – assessed the main analyst of the BIK Group.

In the first quarter of this year, the number of housing loans granted decreased by 53.3%, and their value decreased by 54.8%.

According to BIK data, banks and credit unions in March 2023, compared to March 2022, granted 55.8 percent. more installment loans, they spent 53.4 percent. more credit cards and granted 8% more cash loans. In terms of value, credit card limits increased by 44.2%, installment loans increased by 17.5%, and cash loans by 9.5%.

Main photo source: Shutterstock/ Photocon

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