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Safe loan 2 percent – APRC analysis in banks

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The real annual interest rate (APRC) on loans with government support ranges from 3.58 to 5.22 percent, the experts of the rankomat.pl comparison website reported. They added that the most favorable conditions are currently offered by Bank BPS. They also pointed out that for standard mortgages, the APR is around 9 percent.

– The analyzes of the offers of the banks that joined the program show that the terms of loans with government support are definitely better than the existing commercial offer. The Safe Credit 2 percent program may mean that many customers will finally be able to decide to buy their first flat or house, said Wojciech Piesta, an expert on the comparison website.

Safe loan 2 percent – APRC analysis in banks

It was reported that 2 percent to the government’s Safe Credit program. 8 banks joined. Agreements with BGK were signed by: Alior Bank, Bank BPS and Banks Spółdzielcze BPS associations, PEKAO, Bank Spółdzielczy Rzemiosła in Krakow, Bank Spółdzielczy in Brodnica, PKO BP, SGB-Bank and VeloBank.

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Rankomat.pl experts analyzed and compared the conditions of mortgage loans already available to customers. They wrote that all available offers meet the basic assumptions of the program, but differ in the value of the bank’s margins charged or additional costs, such as real estate insurance. They also indicated that differences will also appear in the method of calculating creditworthiness.

“The comparison of rankomat.pl shows that in mid-July, a mortgage loan with the support of a government program with the lowest APRC (…) offers Bank BPS. For this bank, this ratio is 3.58 percent. The highest APR rate is in Alior Bank – 5.22%. IN PKO Bank Polski this value is 4.96 percent, aw Bank Pekao 4.72 percent.” – calculated.

It added that the lowest APR for a mortgage that is not part of the government support program is currently over 8%. This means that loans granted under the government program not only offer lower installments to start, but also allow you to save a significant amount on repayment throughout the loan period. – We are talking about amounts counted in hundreds of thousands of zlotys – added Piesta.

Experts from rankomat.pl. calculated that by borrowing 290,000 from PKO BP. PLN for 25 years, the customer will give 509.5 thousand to the bank. zloty. “In this case, the total cost of the loan will be PLN 219.6 thousand, which means an APRC of 4.96 percent.” – they wrote. However, with a standard PKO BP Własny Kąt mortgage loan, the total amount to be paid will be PLN 767.5 thousand. PLN with APRC at the level of 9.41 percent. They calculated that thanks to the Safe Credit program, 2 percent. savings on the total repayment of the loan over 25 years will amount to PLN 258,000. zloty. b

They also pointed out that taking a Megahipoteka mortgage in the amount of PLN 346,000. PLN at Alior Bank, the customer must take into account the total cost of the loan in the amount of PLN 687.7 thousand. PLN (APR: 10.89%). When deciding on a loan with government support in the same bank, the total cost of the loan will be lower by over PLN 410,000. PLN and amounts to 277 thousand. PLN (APR: 5.22%). In turn, in the Pekao bank, when borrowing 335 thousand. PLN for 27 years and taking advantage of the government program, the total cost of the loan will be PLN 278.3 thousand. PLN (APR: 4.72[%))”ForcomparisonintheFamilyHousingLoanavailableinthisbankthecostofaloanwithsimilarparametersisPLN6029thousand(APR:1004percent)whichisalmostPLN325000more”-theywrote[proc)”DlaporównaniawRodzinnymkredyciemieszkaniowymdostępnymwtymbankukosztpożyczkiopodobnychparametrachwynosi6029tyszł(RRSO:1004proc)czyliprawieo325000złwięcej”-napisali

Safe credit 2 percent – rules

It was noted that an additional element of the program that allows you to save money for the purchase of real estate is a housing account. It was reminded that this program is aimed at helping in the purchase of the first real estate and improving housing conditions for people with two or more children. It was indicated that the minimum monthly payment is PLN 500, and the maximum is PLN 2,000. zloty. In addition, the saver is entitled to a month of vacation from payments each year without consequences. It was also reminded that each saver receives an annual Housing Bonus, which is equal to the index inflation or a change in the price of 1 m2 of the usable area of ​​a residential building. This bonus is accrued annually and paid once.

Experts also wrote that savings are subject to interest in line with the bank’s offer, and interest is exempt from Belka’s tax. However, they pointed out that the housing bonus and tax exemption are available only if the funds are used for the purchase of the first apartment, construction of a single-family house, investments in a housing cooperative, housing contribution in a housing cooperative, participation in SIM or TBS, or purchase of land for the construction of a single-family house.

They also pointed out that there are several situations in which subsidies can be lost. This is the case, e.g. if the client buys a house or flat and within 2 years from that time you do not start running a household on this property. It is also not possible to rent or lend real estate financed under the program. The loss of subsidies may also be associated with, for example, setting up a business in this premises, and certainly – according to experts – you cannot conduct business in the premises during the period of using the BGK guarantee.

It was pointed out that the legislator foresaw a situation in which the customer may not only lose further use of the programme, but also have to pay back all received subsidies.

“If you are finally convicted of credit fraud (Article 297 § 1 or 2 of the Penal Code) committed in connection with the granting of the Secure Loan 2%, then you must return all payments together with statutory interest to the Government Housing Fund. You have 45 days to do so from the date of the verdict becoming final and binding” – it was written.

Main photo source: Proxima Studio/Shutterstock

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