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Housing loans. Secure Credit 2 percent – banks comment

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The First Apartment program, one of the pillars of which is Secure Credit 2 percent, is to start at the beginning of July. We know which banks are planning to introduce loans with a subsidy from the state to their offer. The launch dates have also been announced.

The Minister of Development and Technology, Waldemar Buda, announced on Monday in radio Jedynka that Safe Credit 2 percent, which is part of the First Apartment program, will start on July 3, 2023. The minister also said that “three largest banks have already declared their willingness to participate and are ready to introduce this product to their offer at this point”.

We decided to ask the leading banks in Poland if they plan to introduce Safe Credit 2 percent solutions to their offers. The program will be addressed to people up to 45 years of age who do not have and have not had their own apartment before. The solution provides for subsidies to the loan for 10 years, so that the interest rate on the liability throughout this period is 2 percent plus the bank’s margin.

Here are the answers of individual banks.

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Secure Loan 2 percent – banks

PKO Bank Polski informed us that he is participating in a 2% loan project. to buy your first apartment. “According to the bank, this proposal gives young people and middle-aged people a chance to buy their first apartment. We will be ready for PKO Bank Polski customers to be able to take advantage of the government’s Safe Credit program from the very beginning of its operation” – assured representatives of the largest bank in Poland. PKO BP is to inform about the details soon.

Pawel Jurek, spokesman Bank Pekaoemphasized that “as previously announced, Bank Pekao SA intends to join the program and from July 3, 2023, offer customers the opportunity to take advantage of the Safe Loan 2 percent for the purchase of the first apartment”.

– We are at the stage of preparation and at the moment we do not see any threat to start offering a loan after signing the cooperation agreement with Bank Gospodarstwa Krajowego. We expect increased interest in the offer of this loan – added Paweł Jurek.

The source of financing of subsidies to installments will be the Government Housing Fund already existing in Bank Gospodarstwa Krajowego (BGK). The Ministry of Development and Technology indicated that the program will be attended by those financial institutions that sign an appropriate agreement with Bank Gospodarstwa Krajowego and introduce instruments to their product offer.

The Safe Loan 2 percent is also being prepared to offer Santander Bank Poland. For now, it is not known when the offer under the government program will start.

– We are preparing to offer Secure Loan 2 percent. We are currently analyzing the required changes, both on the system and process side. After completing the analyzes and preparing the required changes, we will inform you about the possible date of joining the program – said Tomasz Borkowski, responsible for the mortgage offer at Santander Bank Polska.

Press officer ING Bank Śląski informed that the bank is “at the stage of analyzing the bill”. Recall that ING Bank Śląski in the first half of May this year. informed that he had not decided whether to join the government program First Apartment.

– We have a lot of questions and doubts – said the president of this bank, Brunon Bartkiewicz, during the press conference. – We do not know if we are able to construct this type of mechanism that will make consumers understand the consequences of this product – indicated Bartkiewicz.

Press office Bank BNP Paribas emphasized that they are looking at both products. The second pillar of the First Apartment program is the Housing Account, i.e. assistance in saving for the purchase of an apartment.

“At this stage, there are still many unknowns, e.g. the detailed scope of the roles, requirements and obligations of banks is not known. The coming weeks will show whether these issues will be clarified” – the press office of Bank BNP Paribas sent us a reply.

Bank Millennium – similarly to ING Bank Śląski – “analyzes the adopted statutory solutions regarding the so-called safe credit”. – The topic is extensive, it covers a number of related instruments, including a housing account. Initially, we plan to make a decision on this matter in the second half of the year – informed Krzysztof Kurek from the public relations department of Bank Millennium.

Interested in introducing Secure Credit 2 percent to its offer Credit Agricole. This was confirmed by Przemysław Przybylski, the spokesman of this bank. But it’s hard to say when that will be possible. We need to analyze the provisions of the recently signed act and learn the content of the executive regulations in order to adapt the framework of our processes and IT systems to them – explained Przybylski.

– We are aware that the interest in this loan is very high, so we will try to meet the expectations of our customers as soon as possible – declared the spokesperson of Credit Agricole.

Secure Credit 2 percent – the cost of the program

Last week, the Parliament completed work on the act on state aid in saving for housing purposes, which is to implement the First Apartment programme. The regulations are now awaiting the president’s signature Andrzej Duda.

The amount of the “secure loan” cannot exceed 500,000. PLN or – if the borrower runs a household together with his spouse or has at least one child – PLN 600,000. zloty. Own contribution cannot be higher than 200,000. zloty. In the absence of own contribution or incomplete contribution, it will be possible to use the guarantee of Bank Gospodarstwa Krajowego.

The value of financing granted under the Safe Credit 2% was estimated at PLN 3.2 billion in 2023 and PLN 13.2 billion in 2024, respectively.

Main photo source: Shutterstock

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