Your way home

In order to submit a loan application, use ‘Contact with Loan Advisor' option available on our websites and ask our loan advisor to meet you or visit one of Millennium retail branches. During the appointment a loan advisor or branch staff will help you choose the most suitable product:

• Mortgage Loam - if you want to purchase, build or renovate your house or flat
• Home Equity Loan - if you need funds for any purpose
• Debt Consolidation Loan - in order to change expensive loans with other banks into one loan with one monthly payment and beneficial interest rates.

Next, based on information acquired from you, we will carry out a preliminary evaluation of your credit worthiness and will present loan repayment simulation to you. We will also answer all your questions regarding loan granting procedure, loan collaterals, loan disbursement and debt service.

During the meeting you will receive a checklist of all documents indispensable to apply for the loan. These documents are:

• basic documents - copies of two identity documents (including an ID card and a passport)
• income documents - different documents depending on the form of employment and income (e.g. in the case of contract of employment - employment and income certification)
• loan purpose documents - serve as an evidence of what you intend to spend the funds on and are different depending on the loan purpose (e.g. when you buy a flat on the secondary market, you provide the Bank with preliminary agreement of real estate purchase)
• collateral documents - mortgage register copy.

Using Required documents application you can also generate an indicative document checklist on your own.

Apart from the documents you already own (e.g. identity documents, agreements based on which you earn your income or documents connected with your business activity - the copy of entry into the register of business activity or certificate of REGON number), there is a number of documents you will need and will have to acquire on your own, e.g.:

• so as to acquire a copy of mortgage register of your collateral real estate, you have to visit mortgage department of the District Court suitable for the real estate in question.
• if you earn your income based on agreement of employment, you can generate employment and income certification (to be filled in by your employer) on your own. It is available in Required documents section. You may also ask for it in any Millennium retail branch.
• if you buy a real estate on primary market (from a developer or housing co-operative), what you should get from the contractor is documents regarding developer's/housing co-operative representation (e.g. extract from the National Court Register, proxies).
• if the loan funds are intended for repayment of liabilities you hold with other banks, turn to your lenders to acquire documents that would include information on the current loans balance as well as the number of loans repayment accounts.

NOTE! We accept Internet statements provided they were printed in Millennium employee's presence, include the number of loan repayment account and loan balance that remains to be repaid.

After you have compiled all loan documentation, please make all necessary arrangements to meet Millennium employee and submit the loan application. On filling in the application please remember to include the following loan parameters:

• loan purpose (e.g. purchase/construction/any purpose)
• loan amount
• loan currency
• lending period
• disbursement option (one or more tranches)
• repayment option (fixed or decreasing installments).

What should also be included in the application is information on the real estate subject to financing as well as on the collateral real estate.

REMEMBER! Please note that mortgage may be collateralized with a real estate other than the one being financed, any real estate which belongs to you or to a third person.

Loan application also contains information about the Applicant (or Applicants - there may be up to four Applicants /not necessarily relatives/ applying for a loan in Bank Millennium. What's more, in the case of joint property of spouses, both spouses must be Applicants):

• basic information
• information on liabilities (i.e. banking services and products) held with other banks
• information on assets owned.

All necessary documents shall be submitted along with the loan application.

REMEMBER! The Bank shall start analyzing your application and make a credit decision upon the analysis no sooner than it has been provided with a complete application, i.e. application with all the extra documents.
 
Having received a complete application the Bank's employee will inform you how long shall it take to make a credit decision*.

* The Bank has got the right to refuse a loan in the amount you applied for. Please get acquainted with the Bylaws governing mortgage lending to individuals.

Before granting a loan the Bank verifies legal and technical status of the collateral real estate, as well as its value. The value of collateral real estate established by way of appraisal determines the maximum loan amount you can be granted, as well as the conditions of your loan.

The value of collateral real estate is established by way of appraisal carried out by a real estate valuer, and an independent expert in the field.

REMEMBER! Real estate appraisal is arranged by the Bank but will not be feasible without your engagement - you should provide and facilitate access to your collateral real estate on request of an authorized person (or enable the access, if you are not the owner of the real estate), as well as compile the documents the real estate valuer needs to perform the appraisal.

If you have your own appraisal documents (max. 6 months old) that have been prepared by a licensed real estate valuer, the Bank may accept it.

Your application is subject to analysis - the Bank evaluates your credit worthiness (i.e. your ability to repay the loan as well as its monthly installments).

REMEMBER! On each stage of credit analysis you may be asked for some extra information and thus, you may have to supplement your application.

After credit decision has been taken, the Bank's representative will contact you and inform you of its details as well as further steps to be taken for the loan agreement to be signed. Please make sure that all the credit decision provisions are clear and comprehensible.

Before signing loan agreement it is necessary that you fulfill preconditions for the agreement stipulated in the credit decision. A precondition may be supplementing existing documentation with some extra documents.
It is indispensable that before signing the agreement you have a loan service account with Millennium. If you already are a holder of Millennium account, there is no requirement of another account.

Once you have fulfilled all the preconditions for loan agreement, we will prepare the agreement. The agreement contains all the terms and conditions connected with loan granting (loan parameters, pricing conditions) as well as loan service (disbursement and repayment of the liability). Once the agreement is ready, you will be invited to sign it.

Along with the loan agreement you also sign other documents connected with loan granting. The following documents are integral part of the loan agreement:

• Bylaws governing lending to individuals under the mortgage banking services in Bank Millennium S.A.
• Proxy to execute actions on behalf of the Borrower (e.g. to charge your account with monthly payments, thanks to which you don't need to remember about monthly transfers connected with the loan)
• Price List Kredyt Hipoteczny/Pożyczka Hipoteczna.

Along with the agreement you also sign loan collateral documents:

• declaration of real estate owner with regard to mortgage entry in favour of the Bank
• declaration of joining real estate and life insurance - only if you decide to take advantage of the group insurance offered by Millennium. If you choose individual insurance, what you sign along with the loan agreement is assignment of rights under real estate insurance and assignment of rights under life insurance of the Borrower.

NOTE! Before signing the agreement check all the data included. Pay particular attention to any terms and conditions referring to interest rates, fees and commissions paid in connection with debt service as well as to commitments and declarations you make on signing the agreement.

When signing the agreement, you also get application for mortgage entry in favour of the Bank. Having signed the agreement, you shall visit mortgage department of the District Court suitable for the collateral real estate.

For your loan to be disbursed it will be necessary that you provide the Bank with application for mortgage entry in the register kept for collateral real estate along with documents proving the application was submitted to the District Court suitable for the real estate in question and that required court fees were paid.

First tranche/ loan shall be disbursed within the deadline you indicated in disbursement order, upon fulfillment of all preconditions for disbursement that were stipulated in loan agreement.
A complete set of preconditions for disbursement which are valid for your case have been stipulated in §3 of your loan agreement.
A precondition for disbursement may be:

• providing the Bank with documents (confirmation of downpayment, documents proving the application for mortgage entry was submitted to the District Court, notarial deed of real estate purchase)
• joining the insurance (or delivering individual insurance policy along with assignment of rights under the insurance to the Bank)
• investment control.

REMEMBER! First tranche/loan disbursement shall take place within validity of the loan agreement. The agreement is valid for 60 days of its preparation. The date of preparation is on the first page, in its letterhead.

Disbursement of the last tranche shall take place no later than 24 months after signing loan agreement.

Disbursement of the last tranche shall take place before the expiry of grace period.

If you fail to fulfill preconditions for disbursement, loan/tranche disbursement may be delayed.

It is up to you when we shall disburse the loan amount agreed. For the Bank to transfer the funds granted to you to an indicated account, it is necessary that after signing the loan agreement you submit loan disbursement order.

Loan disbursement order shall be submitted no later than 3 days before you plan to disburse the funds. This implies that if you want to disburse the loan e.g. on Thursday, the order shall be submitted on Monday at the latest.

if your loan shall be disbursed in tranches (whose amounts shall be provided for in preliminary agreement or Specification of costs and construction progress), the Bank may require an investment control before a tranche is disbursed. Loan disbursement order shall be then submitted no later than 10 days before you plan to disburse the funds.

• in the case of DIY house construction, renovation, upgrade or extension of a real estate, investment control takes place before disbursement of the tranche which shall result in disbursement of min. 50% of the loan amount
• when house or flat is built by a developer or a housing co-operative, investment control is required before the disbursement of the last tranche.

NOTE! For house/flat construction by developer deadlines for subsequent payments in favour of the contractor are stipulated in preliminary agreement. Remember to observe these deadlines and submit tranche disbursement order in advance.

In the case of DIY house construction, renovation, upgrade or extension of a real estate, disbursements of subsequent tranches that do not require investment control takes place based on verification of undertaking, construction log book and the photos real estate. It is also recommended that you provide the Bank with an update of Specification of costs and construction progress. Disbursement order shall be then submitted no later than 3 days before you plan to disburse the funds.

You can download disbursement order form on the Bank's websites, with the use of Required documents application. You can also receive such a form in any retail Millennium branch. Upon its completion, please sign it and deliver to the Bank.

Once we have received your loan disbursement order, we disburse the loan (or its tranche) and...you're at home!