Until mortgage is established a so-called interim loan collateral is established. At Bank Millennium a standard interim collateral is a commission for increased risk collected until the mortgage is established.
Remember! The target loan collateral may be also a mortgage on the property other than that financed with the loan, owned by you or a third party.
Monday–Friday 8:00–20:00
Fees, commissions and interest rate are defined in the Mortgage Loan/Home Equity Loan Price List. The details of the principles and conditions for granting mortgage loans/home equity loans are stipulated in the Credit Regulations for individuals within mortgage banking at Bank Millennium S.A. The Regulations and Price List are available at the Bank’s branches and atwww.bankmillennium.pl website. Before granting Loan/Home Equity Loan, the Bank assesses the Borrower’s credit capacity and credibility on a case-by-case basis; in justified cases the Bank may refuse to grant a loan.
Annual Percentage Rate (APR) is 4,36% and was calculated at WIBOR 3M 0.28% (as at 31.05.2020). Total mortgage loan (without costs financed with the loan) is 204 909 PLN, total amount to be paid by the consumer is 332 338,94 PLN, variable interest rate 3,75 %, total cost of mortgage loan 127 429,94 PLN (including: commission for loan granting 0 PLN, interest 111 270,92 PLN, commission for increased risk until mortgage entry is made in the land and mortgage register for 6 months 1 026 PLN, property insurance against fire and other accidents according to the offer available through the Bank 7 800 PLN, life insurance according to the offer available through Bank 7 114,02 PLN, PCC/tax on civil law transactions 19 PLN and court fee for establishment of mortgage 200 PLN), credit period 25 years, loan instalment 1053,94 PLN, number of instalments 300. The calculation was performed as at 04.06.2020 on a representative example assuming that the loan will be secured with a mortgage on the newly purchased property, whereas the value of the property to secure the loan is 342 208 PLN, credit margin is 3.47% as the Client holds Konto 360° account, under the condition of monthly inflow of remuneration or another net income to this account and holding a debit card to this account, and performing with this card non-cash transactions in the amount of min. 500 PLN per month. In case of Konto 360° account, this account is then kept by the Bank free of charge and the fee for the debit card to this account is 0 PLN.
In case of loans with variable interest rate, a standard offer on the Polish market, there is a risk of changes in the interest rates. The risk of changes in the interest rates means that if the reference rate goes up, the interest rate of the loan will be higher, and then the monthly principal-interest instalment will increase, which will consequently result in increase in the cost of interest and thus, increase in the total cost of the mortgage loan. The Customer may present as security of the Bank’s receivables a property or life insurance policy – other than offered via the Bank – under an insurance agreement concluded with an insurer, which is shown on the list published by KNF.
