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Choose Mortgage Loan (APR 9.5%) awarded in the prestigious Golden Banker 2021 ranking
Choose Mortgage Loan on attractive terms (APR 9,5%):
We won 1st place for the best mortgage loan in Golden Banker 2021
Consider a loan with fixed interest rate:
INFORMATION
From 1 March 2023 we suspend the offer of mortgage loans with variable interest rate options for the entire life of the loan.
Mortgage loans with a periodically fixed interest rate for the first 5 years remain in our offer.
We are working on the implementation of a new mortgage loan offer based on the WIRON reference index.
You can track your mortgage application progress in Millenet and mobile app:
You can see on what stage your application is and what happens with it
You get a message when the status of your application changes
You know what your next steps are
Download the mobile app to your mobile device and select mortgage application status at the bottom of the screen
Provide data, e.g. application number and data from your identifier (e.g. PESEL)
Done! Now you can check what is happening with your application
If you choose real estate insurance or life insurance required to secure a loan with another institution, you can attach all documents easily and quickly online:
Borrowers’ Support Fund
The fund was set up to help out people in a difficult financial situation who make mortgage repayments.
Statutory credit holidays
If you have a mortgage in PLN and want to suspend its payment, check if you can benefit from the statutory credit holidays.
You can use a mortgage loan (or simply mortgage) to finance the purchase of a house or a flat on the primary or secondary market, construction or extension of a house, refurbishment or modernisation. A loan from another bank can also be refinanced.
Borrowing capacity determines your ability to repay a loan you have taken out with interest on time. You can use the mortgage calculator to estimate your borrowing capacity. Thanks to the calculator you will also check, on an estimate basis, what loan instalment you can expect.
Your borrowing capacity will be calculated by the Bank based on your loan application.
Yes, if the mortgage agreement has been concluded (signed) by 16 September 2022 and the court enters the mortgage on or after 17 September 2022, we will refund you the entire commission charged.
When do I get my commission refunded?
Once the court has registered the mortgage in the land registry and we have verified and confirmed that the entry meets the conditions specified in the loan agreement, we will refund the commission. You will receive the commission within 60 days of the mortgage being registered.
How do I receive my commission back?
We refund the commission to the account from which it was taken.
Do I need to apply for a commission refund?
Do I need to apply for a commission refund?
Legal basis for the reimbursement of commissions
"Act of 5 August 2022 amending the Mortgage Credit Act and the Supervision of Mortgage Credit Intermediaries and Agents and the Act amending the Personal Income Tax Act, the Corporate Income Tax Act and certain other acts".
Yes. You can partially or fully repay a loan with no additional cost to you. You will conveniently make the partial repayment in Millenet, fully repayment is possible in our branch.
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:
Current price list of suppliers cooperating with the Bank:
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:
Conditions
for margin reduction
Margin reduced by 0,5% for Clients who fulfil the below conditions throughout the credit period:
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.
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 can change the interest rate method if:
From 1 March 2023 we suspend the offer of mortgage loans with variable interest rate options for the entire life of the loan.
Mortgage loans with a periodically fixed interest rate for the first 5 years remain in our offer.
We are working on the implementation of a new mortgage loan offer based on the WIRON reference index.
Information about the WIRON benchmark
On September 27, 2022 on the website of the Polish Financial Supervision Authority the so-called Roadmap was published, which defines the basic assumptions of the process of replacing WIBOR and WIBID benchmarks with the WIRON index (Warsaw Interest Rate Overnight).
The Roadmap was developed and agreed upon by the so-called National Working Group on Benchmark Reform ('NGR'). The Group is made up of representatives of:
According to the Roadmap Schedule, the process of replacing WIBOR is to be spread over time:
This process is very complicated. There are many related elements in it. For this reason, the Roadmap and the dates indicated therein may change.
You can find the Roadmap here.link otwiera się w nowym oknie
Currently, we do not offer mortgages with interest rates based on the WIRON benchmark. Preparation of systems and operational processes in banks takes time. In our bank, we are working intensively on adapting IT systems, regulations and documents that will allow us to introduce the WIRON benchmark as soon as possible.
We will inform you in advance about the date of introduction of WIRON.
If in the future we are no longer able to use the WIBOR benchmark indicated in your contract due to the fact that it will cease to be published by the administrator, we will replace WIBOR in the contract with a new benchmark, in accordance with one of the following solutions:
Information about the WIRON benchmark
More information about the planned replacement of the WIBOR benchmark by WIRON can be found at following websites:
For a mortgage collateral is:
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 9,5% and has been calculated with the assumption that the interest rate during the first 60-month fixed-rate period is 8,00% (as of 14.02.2023), while later the variable interest rate is 9,09% and WIBOR 6M is 6,99%. 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 394 373 PLN, total amount to be repaid by the consumer 1 089 426,36 PLN, total cost of the mortgage loan 695 053,36 PLN (including: fee for loan approval 0 PLN, interest 653 601,84 PLN, fire and other accident insurance of the real property according to the offer available through the bank 14 520 PLN, life insurance according to the offer available through the bank 26 712,52 PLN, tax on civil law transactions 19 PLN and court charges for setting up a mortgage 200 PLN), loan tenor 27 years, loan instalment 2 959,48 PLN, number of instalments 330.
The calculation was made as of 14.02.2023 on a representative example, assuming that: the loan will be secured with a mortgage on a newly acquired real property worth 588 616 PLN, loan margin is 2,10%, 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.
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