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Four banks declared the introduction of a “safe loan” for housing from July 3 – informed Katarzyna Fortuna from Bank Gospodarstwa Krajowego. She added that on Monday, BGK completed arrangements with the banks regarding the handling of the product.

The act on state aid in saving for housing purposes, which introduces a “safe 2 percent loan.” with a state subsidy for installments and a housing account with a housing premium from the state budget, waiting for the president’s signature. It will go into effect on Saturday, July 1. Loans will be granted by banks that will sign an agreement with BGK in this regard.

Four banks will offer safe credit from July 3

As Katarzyna Fortuna from BGK told PAP, on Monday arrangements with banks were completed on the shape of the cooperation agreement regarding the handling of the “safe 2 percent loan”. She added that BGK had been conducting them since March with the majority of lending banks in cooperation with the Polish Bank Association and the Ministry of Development and Technology.

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She informed that four banks declared their readiness to use the product from Monday, July 3 this year. Most likely, PKO BP and Pekao are among them, which previously declared the launch of the offer at the beginning of July.

Fortuna stipulated that the legal basis for concluding agreements by BGK with lending banks is the Act on state aid in saving for housing purposes. – We are waiting for its signature by the President of the Republic of Poland – she added. After the act is published in the Journal of Laws, a program tab will be created on the BGK website. There, BGK will regularly publish information on signing agreements with lending banks.

Work on the IT system is in progress

Pursuant to the act, by November 30 this year, Bank Gospodarstwa Krajowego is to develop an IT system in which banks will report subsidies to installments of “2 percent loans” granted.

– We are in the process of preparing an IT system for lending banks. We will make this system available to banks after signing agreements with them regarding the operation of the program. Crediting banks will be able to register online applications for a loan and information about contracts concluded with the borrower, informed Katarzyna Fortuna.

She reminded that – in accordance with the provisions of the act – in the case of “2 percent loans.” granted in the third and fourth quarters of this year, BGK will provide banks with funds for subsidies to installments from January 2024.

First, “secure 2 percent loan”, and then housing accounts

Parallel to the arrangements on “secure credit 2 percent.” BGK, in cooperation with the Polish Bank Association and the Ministry of Entrepreneurship and Tourism, conducted talks with banks regarding the introduction of housing accounts. As Fortuna emphasized, currently banks are focusing primarily on the implementation of the “safe 2% loan”, followed by the implementation of the housing account. She said that some banks have already declared that they will start implementing housing accounts in their offer – on various dates.

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The basics of “secure credit”, from when and for whom?

According to the law “safe credit” with a periodically constant interest rate a person up to the age of 45 will be able to enlist; if the loan is granted to both persons running the household, the age condition will have to be met by at least one of them. The loan may be granted for the first flat – persons belonging to the borrower’s household will not be able to have, on the day of granting the loan or in the past, a flat, a house or a cooperative right to a flat or a house. 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 subsidy to the installments will be due for 10 years, and the loan will be repaid in the formula of fixed capital installments (decreasing capital and interest installments). During the period of application of subsidies, the loan interest rate, according to the explanations on the website of the Ministry of Development and Technology, will amount to 2 percent for the borrower. plus a margin, commission and other bank charges (if any). “Safe loans” will be granted until December 31, 2027. The Act also introduces a special savings account. Regular payments (at least 11 payments per year in the amount of at least PLN 500) will guarantee an additional housing bonus from the state budget. The bonus will be equal to the annual index inflation or the price change index for 1 square meter of usable floor space of a residential building. Each year, an indicator more favorable for the saver will be selected. Savings will additionally bear interest in accordance with the bank’s offer, while interest will be exempt from the so-called beam tax. The source of financing both subsidies to installments and housing bonuses will be the state budget, through the Government Housing Fund (RFM) established at Bank Gospodarstwa Krajowego.

Main photo source: Shutterstock

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