• Application for information about the loan
• Documents confirming your identity (ID or passport)

1. Value estimate of the property

To make a credit decision, we will need a value estimate of the flat/house prepared by a property valuation expert.

If you do not have an appraisal report, you can use the Bank's support in obtaining it. You just need to:

• order the appraisal report when submitting the loan application (or at a later stage) and choose one of the two nationwide suppliers cooperating with the Bank
• you will pay the report by bank transfer directly to the supplier's account (the Bank does not charge any fees for assistance in ordering the report)
• in just a few minutes, your order and the required documents will be delivered to an expert
• for your safety, the appraiser may conduct an on-line inspection without a physical visit to the flat/house
• you will receive the report even within 3-4 days (from the moment of inspection) in electronic and/or paper form
• at the same time, the report will be made available to the Bank, which will shorten the time to issue a credit decision

Current price list of suppliers cooperating with the Bank:

• 420 PLN a flat, garage, undeveloped land
• 680 PLN single-family residential building, semi-detached house, residential unit in a terraced or semi-detached building

You can also provide us with your appraisal report made by an authorized property appraiser. Check the Central Register of Property Appraiserslink opens in a new card.

2. Copy of the entry in the land and mortgage registry - applies to real estate securing the loan

Additionally, if the loan is secured by a single-family home or by an undeveloped plot of land, the following may be required:

• final occupancy permit, or – if the former is not required by law – certificate of the completion of the construction along with the information on the lack of objection lodged certified by relevant authorities, or the decision on the amount of real-estate tax
• copy of the entry in land registry or copy of the survey map
• certificate of copy from the entry in the local spatial development plan confirming real estate use classification

• Employment and income certificate Download File PDF opens in a new card
• Employment and income certificate (English version) Download File PDF opens in a new card
• Extracts from the current account for the period of the last 3 months

Margin reduced by 0,5% for Clients who fulfil the below conditions throughout the credit period:

• they are holders of personal account at Bank Millennium, to which remuneration or net income are transferred every month, and
• they are users of debit cards for account at Bank Millennium and perform card transactions in amount of minimum 500 PLN per month.

If you value peace of mind and want to be sure that your mortgage loan payment will not change during the next 5 years, consider the fixed rate loan. A fixed interest rate is available for mortgage loans in PLN.

• Selecting a loan with a fixed interest rate you have 30 days to accept the credit decision and to sign the agreement.
• During the first 5-year period of validity of the fixed rate (during 60 months starting from the day of loan disbursement) you cannot switch over to a variable interest rate.
• After this period os over you can decide to have another 5-year period of fixed interest rate or to switch over to variable interest rate, which is the sum of the bank’s margin and the WIBOR 6M reference rate.
• If you choose another period, we will give you a proposal of the fixed interest rate for the next 5 years.
• If you do not accept the new fixed interest rate, after this period your loan will be subject to variable interest rate and your monthly payments will depend on WIBOR and the margin defined in the loan agreement.
• If you accept the terms and sign the annex to the loan agreement, you will be able to enjoy the fixed rate with the new terms during the next 5 years.
• If you already have a loan in PLN with variable interest rate, you can apply for change to a fixed interest rate, valid during 5 years.

If periodically fixed interest rate is used, it will remain valid for 5 years. During this period the monthly principal-interest payment of your loan will not change, because it does not depend on change of the benchmark. There is the risk however, that during the fixed interest rate period your monthly payment may be temporarily higher than if it were calculated on the basis of the current WIBOR 6M reference rate, used as the benchmark in calculating variable interest rate. After the a/m 5-year period you can choose to apply periodically fixed interest rate (note: it ,may differ from the interest rate in the previous period) for another 5-year period (it will be the same in case of subsequent periods) or to apply a variable interest rate.

Meanwhile during the period when variable interest rate is applied there is the risk of change of interest rates. The risk of change of interest rates means that in case of increase of the level of WIBOR 6M reference rate the interest rate on the loan will be higher; then the amount of the monthly principal-interest instalment increases and this in turn will cause an increase of the cost of interest and thus increase of total cost of the mortgage loan. If the reference rate is zero or negative, the interest rate on the loan during this period shall be equal to the Bank’s margin.

You can change the interest rate on your loan or mortgage to a periodic fixed rate for 5 years. After this time, your loan will automatically revert to a variable interest rate based on WIBOR. You can also reapply to change to a periodic fixed rate on new terms for another 5 years.

How to do it?

• You apply to change the interest rate on your mortgage or loan at any bank branch.
• You apply to change the interest rate on your mortgage or loan at any bank branch.
• You sign an annex to the contract. The cost of the annex is 200 PLN.
• Remember that the application and the annex must be signed by all borrowers.

You can change the interest rate method if:

• your credit is in PLN,
• you are creditworthy and pay your instalments on time,
• you have no less than 5 years left to the end of the loan term (from the date of signing the interest rate adjustment annex).

Find out more in Borrowers’ Mortgage Guideotwiera się w nowej karcie

For a mortgage collateral is:

• mortgage on residential property entered in the first place in favour of Bank Millennium
• assignment of rights from the insurance policy against fire and other accidents
• against fire and other accidents life insurance policy with the Bank as the only beneficiary

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.

Mortgages with 80-90% LTV are additionally insured against high LTV risk. LTV rate is total amount of the mortgage loan to the value of securing property that is the subject of collateral.

Annual Percentage Rate (APR) is 10,79% and has been calculated with the assumption that WIBOR 6M is 7,31% (as of 31.08.2022), variable interest rate is 9,80% and will remain at the level defined for the initial period during the entire period of Agreement duration. The total amount of the mortgage loan (net of debt-financed costs) is 316 783 PLN, total amount to be paid by the consumer 941 101,26 PLN, total cost of the mortgage loan 624 318,26 PLN (including: loan approval fee 0 PLN, interest 592 838,46 PLN, fire and other accident insurance of the real property according to the offer available through the bank 9 483 PLN, life insurance according to the offer available through the bank 21 777,80 PLN, tax on civil law transactions 19 PLN and court charges for setting up the mortgage 200 PLN), loan tenor 27 years, loan instalment 2 781,70 PLN, number of instalments 327. The calculation was made as of 09.09.2022 on a representative example, assuming that: the loan will be secured with a mortgage on a newly acquired real property worth 389 694 PLN, loan margin is 2,49%, if you have a Millennium 360° account with us, which is credited every month with your salary or other net income and have a debit card with this account, and you make non-cash transactions with this card in the amount of at least 500 PLN per month. The Millennium 360° account is kept free of charge. The for service of the debit card or BLIK contactless payments is 0 PLN, if in the previous month i.a. you pay once with the card or by BLIK (if you are aged 18-26) or 5 times (if you are aged over 26).

Annual Percentage Rate (APR) is 10,19% and has been calculated with the assumption that the interest rate during the first 60-month fixed-rate period is 8,64% (as of 31.08.2022), while later the variable interest rate is 9,80% and WIBOR 6M is 7,31%. If at the time of APR calculation, the fixed interest rate is higher than the variable interest rate, then the APR calculation after the fixed rate period shall use the fixed interest rate. The total amount of the mortgage loan (net of loan-financed costs) is 316 783 PLN, total amount to be repaid by the consumer 917 834,52 PLN, total cost of the mortgage loan 601 051,52 PLN (including: fee for loan approval 0 PLN, interest 569 762,03 PLN, fire and other accident insurance of the real property according to the offer available through the bank 9 483 PLN, life insurance according to the offer available through the bank 21 587,49 PLN, tax on civil law transactions 19 PLN and court charges for setting up a mortgage 200 PLN), loan tenor 27 years, loan instalment 2 522,37 PLN, number of instalments 327. The calculation was made as of 09.09.2022 on a representative example, assuming that: the loan will be secured with a mortgage on a newly acquired real property worth 389 694 PLN, loan margin is 2,49%, if you have a Millennium 360° account with us, which is credited every month with your salary or other net income and have a debit card with this account, and you make non-cash transactions with this card in the amount of at least 500 PLN per month. The Millennium 360° account is kept free of charge. The for service of the debit card or BLIK contactless payments is 0 PLN, if in the previous month i.a. you pay once with the card or by BLIK (if you are aged 18-26) or 5 times (if you are aged over 26).

Fees, commissions and interest rates are specified in the Mortgage/Home Equity Loan Price List. Details regarding the principles and conditions of granting loans are stipulated in the Regulations on Lending to Individuals in Mortgage Banking in Bank Millennium S.A. The Regulations and the Price List are available in the Bank’s branches and on the www.bankmillennium.pl. website. Before granting a loan the Bank always evaluates the Applicant’s credit capacity and worthiness on a case-by-case basis; in justified cases it may refuse to grant the loan. The Customer may present, as security of the Bank’s receivables, real property or life insurance - outside the offer available through the Bank - under an insurance agreement concluded with an insurer from the list published by KNF. Granting a loan with an LTV (total value of the mortgage loan to value of the real property securing the loan) above 80%, however no more than 90%, is possible only with additional security in the form of high LTV risk insurance.

A fixed interest rate shall remain valid for 5 years. During this period the principal and interest instalment amount of your loan will not change, because it does not depend on changes in a benchmark. There is the risk that during the fixed interest rate period your monthly payment may be temporarily higher than if it were calculated on the basis of the current WIBOR 6M reference rate, used as the benchmark in calculating a variable interest rate. If the maximum interest rate decreases during the fixed interest period, the fixed interest rate will not change during this period. After the end of a 5-year period you can choose to apply a periodically fixed interest rate (note: it may differ from the interest rate in the previous period) for a further period of 5 years (similarly in the following periods) or to apply a variable interest rate. When you were repaying your loan instalments at a fixed interest rate, the WIBOR 6M benchmark may have increased. This means that after the end of the fixed rate period your instalment may be higher, and the total cost of the mortgage loan will grow. During the period when a variable interest rate is applied there is a risk of interest rate fluctuations. The risk of interest rate fluctuations means that if the WIBOR 6M reference rate increases the interest rate on the loan will be higher; the amount of the monthly principal and interest instalment will then increase and this in turn increases the cost of interest and thus the total cost of the mortgage loan. If the reference rate is zero or negative, the interest rate on the loan during this period will be equal to the Bank’s margin.