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real estate. First Apartment Program. Waldemar Buda comments

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In the “First Apartment” program, 32,000 applications have been submitted, over two thousand contracts have been signed for almost a billion zlotys, said Waldemar Buda, Minister of Development and Technology. The average amount of the Safe Loan 2 percent was PLN 367,517. More than 1,000 Housing Accounts have been set up.

The “First Apartment” program creates a system of subsidies to the loan for the purchase of the first apartment and the Housing Account – a program to help savers.

“During the first seven weeks of the program’s operation, 32,125 loan applications were submitted and 2,709 contracts were concluded for a total amount of about PLN 996 million (data as of August 17, 2023). The average amount of a safe 2% loan is PLN 367,517” – informed the head of the program. Ministry of Agriculture and Tourism Waldemar Buda, quoted in the Ministry’s statement on Monday.

Secure credit – amendment

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He emphasized that last week the Sejm “corrected the provisions on the ‘First Apartment’ program. – It is about a case where a safe 2% loan is to be granted to purchase premises where the borrower lives on the basis of an institutional lease agreement with ownership In such a situation, meeting the age criterion is determined on the date of signing such an agreement – he noted, adding that the loan will be available, for example, to a person who is 47 years old, but was not 45 at the time of concluding such a lease agreement. – Other changes introduced in the amendment, they clarify the regulations aimed at eliminating interpretation doubts, stated the head of the Ministry of Agriculture and Tourism.

Secure credit – list of banks

2% secure loan is offered by nine banks: Alior Bank, Bank BPS and Banks Spółdzielcze Zrzeszenia BPS, Pekao, Bank Spółdzielczy Rzemiosła in Krakow, Bank Spółdzielczy in Brodnica, Krakowski Bank Spółdzielczy in Krakow, PKO BP, SGB-Bank and Banks Spółdzielczy Rzemiosła affiliated with SGB-Bank, and VeloBank. “BGK is waiting for one of the banks to sign a cooperation agreement, and four more declare their readiness to join the program in the third and fourth quarters of this year,” informed the Ministry of Entrepreneurship and Technology. As reported, BGK receives about 50 inquiries from potential customers a day. The number of visits to websites and downloads of credit forms also increased several times. It was reported that the Ministry of Development and Technology granted over 1.6 thousand. program responses. The Ministry of Entrepreneurship and Technology also provides on-going answers to questions from representatives of banks participating in the program and independent credit advisors via BGK. A secure 2% loan that can be used for primary market or secondary, it is offered with a state surcharge. “It is the difference between the fixed rate determined on the basis of the average interest rate on fixed-rate loans in crediting banks, less the margin, and the interest rate on the loan at the rate of 2 percent. The subsidy to installments of a family housing loan can be used for 10 years, and the maximum amount of the loan is PLN 500,000. “In the case of a household run jointly by spouses or when this household includes at least one child – PLN 600,000” – it was emphasized. Minister Buda pointed out that the money accumulated in the Housing Account bears interest on the terms offered by the bank, as in the case of an ordinary savings account. “Unlike an ordinary account, however, the profit obtained is exempt from the so-called Belka tax. This means that you do not have to pay the 19% tax on capital income” – emphasized the head of the Ministry of Agriculture and Tourism.

Housing Account – details

The Housing Account is an instrument for those who plan to buy a flat in the next few years. They can be worn from 13 to 45 years of age. By setting up a Housing Account, parents can ensure the safe future of their children even before they reach the age of majority. The minimum monthly payment is PLN 500 (PLN 6,000 per year), and the maximum is PLN 2,000. PLN (PLN 24,000 annually) – reminded the ministry. Currently, Konto Mieszkaniowe is offered by three banks (Alior Bank, Bank PEKAO SA, PKO Bank Polski), and arrangements with another bank are in progress. 1,331 Housing Accounts were set up, with nearly PLN 2.6 million accumulated, the Ministry of Entrepreneurship and Technology announced. As it was pointed out, BGK, together with banks and the Ministry of Agriculture and Tourism, is creating a database of good practices for handling programs.

Read also: An important change for buyers of the first apartment. “Save up to several thousand zlotys”

Main photo source: Shutterstock

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