The Polish government is preparing a new loan intended to help people obtain housing in the public construction system. It is aimed at those who lack funds for the down payment in TBS or SIM or for a housing contribution in a cooperative.
The main advantage of the program is that the loan will be a consumer loan, but its interest rate should be the same as that of a mortgage. Additionally, it is planned to be guaranteed by Bank Gospodarstwa Krajowego (BGK)
What the loan will be used for
This concerns housing being built under the public construction system — specifically, TBS and SIM apartments. To obtain such housing, future tenants often need to pay a significant amount before moving in
Typically, such a contribution amounts to 15–30% of the apartment’s price or the costs of its construction. Depending on the value of the property, this can be several tens of thousands of zlotys, and sometimes even more than 100,000 zlotys.
Dla wielu rodzin ta kwota staje się główną przeszkodą: ich dochody mogą wystarczyć na miesięczny czynsz, ale nie są w stanie zaoszczędzić dużej zaliczki z wyprzedzeniem.
According to estimates from the Ministry of Development and Technology, this issue may affect around 40% of households.
How the new program will work
The government proposes to allow banks to issue a regular consumer loan for such a deposit. However, its terms must be significantly more favorable than those of a standard consumer loan
The state will provide a guarantee to banks through BGK. In return, the banks participating in the program will have to set the interest rate at the level of mortgage loans
The Deputy Minister of Development and Technology, Tomasz Lewandowski, explained that this way people will be able to obtain financing on terms comparable to a mortgage, although formally it will be referred to as a consumer loan
The state guarantee should also convince banks to more actively offer such a product. The Związek Banków Polskich notes that state credit backing is a sufficient protection for banks
Why this might be beneficial
The difference between the mortgage rate and a regular consumer loan can be very significant right now
According to the director of the analysis department at Rankomat, Jarosław Sadowski, mortgage loans with a variable rate cost around 5.8% per annum, while consumer loans can reach an interest rate of approximately 14%. Additionally, consumer loans may also come with extra fees and insurance.
Therefore, the possibility of obtaining funds for a contribution to TBS or SIM at a mortgage rate can significantly reduce the cost of the loan
Who can get a loan
The program will be intended for people who:
- do not have their own house or apartment;
- do not have cooperative housing rights;
- want to obtain housing in the TBS, SIM, or cooperative system
- cannot independently gather the necessary amount for the down payment
The maximum amount of the state guarantee will be 100,000 zlotys. For its provision, a fee of 1% of the guarantee amount will have to be paid, but not more than 1,000 zlotys.
The loan is planned to be issued for a period of 5 to 15 years.
Ile osób będzie mogło skorzystać z programu
The government expects that the new scheme will help approximately 30,000 households by 2030.
At the same time, the program is still in the preparation stage. Relevant changes may soon appear in the list of legislative works of the Council of Ministers of Poland.
If the project is approved, people who can afford monthly housing payments but do not have tens of thousands of zlotys for a down payment will have another way to obtain an apartment in the public construction system
