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Spring awakening in mortgages – Housing Loan



After a few weeks of winter stagnation, the housing loan market comes to life. The first optimistic changes appeared already at the end of February, and the last days only confirmed that banks are timidly preparing for an offensive on the credit market.

Further institutions present new, promotional mortgage offers with significantly reduced margins.

Spring is a time when interest in real estate offers, and hence mortgage loans, increases. Bankers know this very well, which is why they are starting to fight for the attention and portfolio of customers and introduce numerous promotions in mortgage offers.

Temptation with a margin

Temptation with a margin

Several institutions have prepared new offers for PLN loans in recent weeks. Even in February, Bank presented a new promotion. Customers with a minimum 15 percent own contribution can get a loan with a margin of 0.99%. However, obtaining such a loan requires you to take out life insurance through the bank.

The cost of such insurance is 0.036% of the loan amount (in the case of the monthly premium) to 3.00% in the case of the premium covering 5 years.

In addition, the bank also requires the creation of an account and regular top-up with remuneration. This offer also requires the payment of a 2% commission. In addition, as part of the current promotion, the bank may return up to PLN 600 to cover removal costs.

Loan Lender also presented new price conditions

The bank offers a 1.00% margin for every customer who opens a personal account and regularly tops it up with PLN 2,000. In addition, it is also necessary to use a payment card for the account and a credit card. The client must also take out property insurance from an insurance company cooperating with the bank. The commission for granting a loan depends on the LTV ratio (loan to value) and ranges from 0.5% to 1.5%.

An additional promotion at the Loan Lender bank – “Lowest Margin Guarantee” may also seem interesting. If we find an offer on the market with a margin lower than 1%, then the bank is able to present an offer with a margin reduced by 0.01 pp compared to the competition and with the same commission. However, it is worth paying attention to two important elements of this promotion.

First, competition conditions must result from standard pricing conditions and not from individual negotiations. Secondly, as a confirmation of receiving a more favorable margin, Loan Lender bank requires the submission of an Information Form, to be issued to which each bank obliges the Consumer Credit Act.

Many banks present the customer

With a personalized form containing specific information about the loan only when signing the loan agreement. In practice, this means that in many cases the customer will be able to apply for a lower margin at Loan Lender only after the application has been fully processed and the contract has been drawn up at another bank. Therefore, the question remains how many people will want to “fight” for better conditions in Loan Lender, having a loan ready at another bank?

Slightly smaller changes, but going in the right direction for customers, were made by E-Money Bank. For people who decide to take out life insurance through the bank, the loan margin will be reduced by 0.2 percentage points. In addition, the customer deciding to insure the property will not pay a commission for granting the loan.