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Real estate – credit 2 percent. From when will it apply? For whom? Quotas and available apartments

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As part of the new government program “Safe Credit 2 Percent”, it will be possible to buy a flat for up to PLN 800,000 – write HRE Investments analysts. According to analysts, such an amount allows for a lot of shopping even in the most expensive voivodship cities.

In the analysis by Bartosz Turek and Oskar Sękowski, we read that according to the government’s announcements, from July it will be possible to take out an extremely cheap loan, for example, to buy a house or an apartment. “On February 3, we got to know the draft law, which is to introduce a preferential loan with an interest rate of about 2 percent per annum. This is about 4 times less than the current interest rate on mortgage loans” – experts note. In their opinion, if everything goes according to plan, the law may be adopted by the parliament still in April, and the first loans may be disbursed already in July.

A large selection of real estate

As analysts remind, “as part of the preferential loan, singles will be able to get a loan for no more than PLN 500,000, and together with a spouse or raising a child, it will be possible to apply for a cheap loan of PLN 600,000”.

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“If someone also has savings, they will also be able to spend them on the purchase of an apartment using a preferential loan. However, the draft law contains a limit that we will be able to apply for a cheap loan by submitting own contribution in the amount not exceeding PLN 200 thousand. This means that singles will be able to spend up to PLN 700,000 on the purchase of a flat, and up to PLN 800,000 for married couples or single parents. These will be the upper limits of the budgets that can be operated if you want to take advantage of a loan with a subsidy.

According to analysts, “such amounts will allow for considerable purchases even in the most expensive voivodeship cities.” “The maximum option, i.e. PLN 800,000, is a budget in which more than 60% of flats for sale can be found even in Warsaw. In as many as 13 provincial cities, over 90% of flats have a price not exceeding PLN 800,000. This gives a very wide range of choice,” they say.

In their opinion, “decent possibilities are also offered by a budget of PLN 500,000 (the maximum amount of the preferential ‘mortgage’ for singles)”. “With such a budget, we can choose from 16% of apartments put up for sale in Warsaw, half of the premises looking for a new owner in Szczecin, Poznań or Katowice, and over 80% of real estate in Gorzów Wielkopolski or Bydgoszcz” – they write.

Flats that will be available for purchase under the new programHRE Investments

No limits

Experts emphasize that, unlike previous government programs, this time, in order to take advantage of the preferential loan, there will be no limits on the price of a square meter of the purchased property. “This means that having a specific budget, we will have full freedom in whether we will spend the money on a more modest premises in the city center or a more spacious property and a better standard on the outskirts” – we read.

“Price limits will only apply to us when ‘Safe Credit 2%’ we will want to combine it with a loan program without down payment. If we do not have the appropriate down payment, the guarantee that can replace this down payment is available only for apartments that meet the price limits per square meter. These depend on the location of the property we want to buy and the current We can check the rates on the BGK website.

Attractive conditions

According to experts, one thing is certain – the program will run out of money faster than those willing to take a preferential loan. “It is true that in order to take advantage of the support, you must be no more than 45 years old (in the case of marriages, the age of the younger person is important) and not have had a flat before, but these conditions are met by at least a dozen or so percent of the inhabitants of our country. In this case, a loan four times cheaper is a significant motivator to buy. The installment of an example loan for PLN 400,000 taken out for 30 years should be about 1/3 lower (PLN 2.1 thousand instead of PLN 3.1 thousand)” – they explain.

Main photo source: Shutterstock/ Photocon

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