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 5,70% and was calculated at WIBOR 3M 1,73% (as at 31.10.2017). Total mortgage loan (without costs financed with the loan) is 180 000 PLN, total amount to be paid by the consumer is 331 529,91 PLN, variable interest rate 5,07%, total cost of mortgage loan 151 529,91 PLN (including: commission for loan granting 0 PLN, interest 137 883,78 PLN, commission for increased risk until mortgage entry is made in the land and mortgage register for 6 months 900 PLN, property insurance against fire and other accidents according to the offer available through the Bank 6 000 PLN, life insurance according to the offer available through Bank 6 527,13 PLN, PCC/tax on civil law transactions 19 PLN, court fee for establishment of mortgage 200 PLN), credit period 25 years, loan instalment 1 059,62 PLN, number of instalments 300. The calculation was performed as at 10.11.2017 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 260 000 PLN, credit margin is 3,34% 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 Client may present property insurance or life insurance – from outside the offer acquired through the Bank – concluded with an insurer from the list published by KNF.