You’ll get less. Taking into account the loan taken for this period at an interest rate of, for example, 3 percent. and income allowing for a monthly repayment of approx. 2 thousand. PLN, the borrower can receive up to nearly 50 thousand. PLN less than before the changes, when a longer loan period was involved. However, incurring such a commitment will be safer, because customers will be able to take advantage of the offer of banks, which already have loans with a guarantee of maintaining a constant interest rate for at least the first five years.
June 30, 2021 is an important date for everyone who plans to borrow a dream apartment or house. According to the new version of Recommendation S, i.e. the document issued by the Polish Financial Supervision Authority regarding good practices in the management of mortgage-secured credit exposures, banks had to introduce new rules for granting housing loans by that date.
It’s harder to get a mortgage since July? So what should the future borrower know about the “new” Recommendation S
It will be safer for customers to make such a commitment, because they will be able to take advantage of the offer of banks that already have loans with a guarantee of maintaining a constant interest rate for at least the first 5 years. There is also less positive news. Changes in the method of calculating creditworthiness mean that in practice it will be more difficult to obtain a housing loan. How much? What else do you need to know about Recommendation S before going to the bank for a loan? These questions are answered by experts from the Union of Financial Intermediary Companies (ZFPF).
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