Some families – discouraged by the costs of materials and interest – pushed the investment to later or completely gave up, which was well illustrated by a report describing the wave of retreat from the started construction.
Despite the high feet Banks have started the spring race for the client. Promotional offers of loans with a fixed interest rate have dropped to levels that have not been seen for several months. The rankings from May showed that in the “easy start” variant periodically, the fixed interest rate dropped to 6.18 percent, and in the “Light installment” program – up to 6.13 percent, with unchanged margins for floating percentage loans.
For many applicants, this was the first chance to go below the symbolic “seven” in the APRC (now RSSO is often above 7 %). Calculations prepared at the beginning of May on a representative example of a housing loan (PLN 400,000 for 25 years) showed an installment of about PLN 2,400. It's still a lot, but noticeably less than a month earlier.
Such a large range between the offers asked the question not about whether you can find financing, but how to choose a variant best suited to the plans and risk tolerance.
Loans are still expensive, but it's better
There was also a huge time pressure in the background. Mortgage agents reminded that although the law imposes a limit of 21 days to issuing a credit decision on banks, In practice, every lack in documents stops the term.
The article published by the expert Paweł Pietras described in detail how one unsigned attachment or typo in the PESEL issue can extend the whole process for weeks.
In the realities of increased demand, caused by promotions and hope for future foot cuts, the completeness and readability of the application became crucial for maintaining creditworthiness.
Another important topic is the growing interest in refinancing existing obligations. Financial services recorded a significant increase in queries about the transfer of mortgages to competitive institutions – just to use new, lower rates of constant interest rates. FinHub analysts pointed out that the refinancing profit can be seen immediately in the installment, but the final benefit depends on the commission for earlier repayment and the cost of a new contract.
Check: Mortgage installment calculator
For people who are just entering the market, the May road map was as follows: first a realistic estimation of a budget with a safety margin at the growing WIBOR rates (still above 5 percent), then a quick collection of full documents, also for the evidence of income for the first months of 2025, and finally a simultaneous study of permanent and variable offers.
It is worth remembering that Banks treat promotional margins as a sales tool. When the market is expecting foot reductions, some institutions intentionally reduce the fixed interest rate to “freeze” customers for five years, while the variable rate can at the same time fall much lower.
The last weeks have brought the first felt relief in the price lists of mortgages, although not in the NBP rates. For potential borrowers it was A signal that it is worth checking your ability now, not waiting passively for the next MPP decisions.
At the same time, the experience of people giving up construction shows that at high costs of materials and execution, even a small difference in installment can decide on the success of the entire undertaking. Banks today give more than one way to reach their own “M”, but it is still the customer who must consider whether he can afford not only the first installment, but also to keep the loan in a less favorable economic scenario.
