Mortgage Loan - Mortgage loans - Bank Millennium

• 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 Appraisers.

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
• Employment and income certificate (English version) Download
• 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.

Annual Percentage Rate (APR) is 2,78% and was calculated at WIBOR 3M 0.28% (as at 31.05.2020). Total mortgage loan (without costs financed with the loan) is 302 821 PLN, total amount to be paid by the consumer is 432 712,71 PLN, variable interest rate 2.28%, total cost of mortgage loan 129 891,71 PLN (including: commission for loan granting 0 PLN, interest 115 556,74 PLN, commission for increased risk until mortgage entry is made in the land and mortgage register for 6 months 1 512 PLN, property insurance against fire and other accidents according to the offer available through the Bank 10 440 PLN, life insurance according to the offer available through Bank 12 163,97 PLN, PCC/tax on civil law transactions 19 PLN and court fee for establishment of mortgage 200 PLN), credit period 30 years, loan instalment 1 162,16 PLN, number of instalments 360. 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 387 933 PLN, credit margin is 2.50% 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 minimum 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.

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 at www.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.

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. Loan with LTV (total amount of the mortgage loan to the value of securing property) above 80%, but not higher than 90%, can be granted exclusively with an additional collateral in the form of high LTV insurance.