Many potential borrowers who have delayed their applications are now starting to submit them, said Tadeusz Bialek, president of the Polish Bankers' Association, commenting on the government's withdrawal from the previously announced zero-interest loan program. At the same time, in his opinion, refusing any kind of support will cause some Poles to “rely on alternative ways”.
– The state of uncertainty regarding zero credit continued for a long time, which was reflected in the decrease in the number of loan applications to banks. We also published data showing that the value of loans decreased in the first and second quarters of this year, said Tadeusz Bialek, president of the Polish Banks Association.
– It is surprising that the announcement of the decision to withdraw from this program by the Ministry of Development and Technology will lead to an increase in lending in the near future, because many potential borrowers who had delayed their applications will now begin to submit them, – he added. .
“We still make real estate loans”
From the point of view of ZBP members, the decision to withdraw from the state program to support borrowers has a neutral meaning, because banks should have acted only as operators of the government program. – We still lend to real estate, because it is one of the main areas of commercial banks, – noted Bialek.
However, the chairman of the Polish Bankers' Association noted that there are various assistance programs for borrowers in the EU countries. – It was the same with us. Programs such as “Family on your own” or “Apartment for youth” helped families, stimulated the market and indirectly increased the demand for loans. Therefore, the question remains whether the support program should be part of the state housing policy, he said.
According to the chairman of the Association of Polish Banks, the lack of a support program means that some people in need of housing do not have access to housing loans. – Therefore, it should be clearly stated: they will depend on an alternative solution, for example, in the form of a long-term lease.
“The cost of loans depends on the interest rate”
Bialek noted that the low availability of housing loans is not the fault of the banks due to the reduced creditworthiness of some potential customers. – The price of loans is determined by the interest rate set by the central bank, which remains high, – he emphasized. He added that the problem of high interest rates affects not only mortgage borrowers, but also entrepreneurs who, as a result, refrain from investing.
The main rate of the NBP, the reference rate, is 5.75%. The Monetary Policy Council (MPC) last cut interest rates in October 2023, when rates fell by 0.25 basis points. percentage
The loan will not be zero interest
On Thursday, the Minister of Development and Technology Krzysztof Paszyk announced that the announced zero-interest loan program. will not be implemented.
The head of the ministry noted that Poland has the highest percentage of housing debt in the European Union – almost twice the European average. He added that the state should find a solution that “helps the Poles in this context.”
On Friday, Jakub Stefaniak, spokesman for the Ministry of Infrastructure and Technology, announced that the new housing strategy developed by the Ministry of Development includes tools that have proven to be effective, including: in the “Apartments for Youth” program. He added that the validity of this program depends on the agreement within the governing coalition.
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