Mortgage Loan

About the product

Millennium mortgage is a housing loan - for the funds you get you can buy a flat of your dreams or fulfill your plan to build your own house!

Why choose Millennium Mortgage Loan?

  • spreads lower by 0.5% compared with standard spreads for Customers who actively use the Bank's selected services*
  • financing up to 90% real estate**

Extra benefits:

  • 0% loan granting commission and no fee for early repayment,
  • acceptance various forms of income.

 

Building a house? We've got a number of extra benefits for you:

  • plot of land constitutes a downpayment, as a result you don' t need to have ready cash
  • base for establishment of maximum loan amount is the future value of the real estate after its completion - you may be granted a loan up to 90% of the collateral - the plot and the house after its construction and completion
  • the opportunity to finance each stage of house construction: simultaneous purchase of plot of land and house construction, as well as cosntruction to  ‘property developer's standards' or partly construction
  • no obligation to present invoices for materials purchased and services paid
  • the opportunity to refinance spendings borne previously (financial means acquired based on this opportunity may be spent according to your individual preferences, e.g. for furnishing)

* Spread reduced by 0.5% for Customers who meet the conditions below, during the entire loan period:
- have a personal account in Bank Millennium, to which the salary or net income is transferred every month and
- are users of a debit card from Bank Millennium (make at least PLN 500 worth of non-cash transactions with the card during a month).

** The Bank may grant a loan without security in the form of high LTV risk insurance up to a maximum amount corresponding to 80% of value of the real estate proposed as security asset for the loan (LTV not higher than 80%). A higher loan amount may be obtained only with use of the a/m insurance; however it may not exceed 90% of value of the real estate.

Fees, commissions and interest rate are stipulated in the Mortgage/Home Equity Loan Price List. Details concerning the principles and conditions for 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 www.bankmillennium.pl. The Bank will assess the Applicant’s credit capacity and creditworthiness on a case-by-case basis prior to granting the loan; in justified cases the Bank may refuse to grant it.

Annual Percentage Rate (APR) is 4.60% and it was calculated with the assumption that WIBOR 3M is 1.73 % (as of 28.04.2017). The total amount of the mortgage loan (net of debt-financed costs) is PLN 230,000; the total amount to be paid by the consumer PLN 381 662,69; variable interest rate 4,03%; the total cost of mortgage loan PLN 151 662,69 (including: loan approval fee PLN 0; interest PLN 135 350,98; fee for increased risk until the mortgage is written for 6 months in the amount of PLN 1 152; real estate fire and other accidents insurance as per the offer available via the Bank PLN 6 300; life insurance as per the offer available via the Bank PLN 8 060,71; fee for real estate value appraisal PLN 480; Tax on Civil Law transactions as well as court fees for writing and removing the mortgage PLN 319 in total); loan tenor 25 years; loan instalment PLN 1 217,84, number of instalments 300. The calculation was made as of 01.05.2017 on a representative example, assuming that: the loan will be secured with mortgage on newly purchased property, whereas the value of the property which is to secure the loan totals 285 000 PLN, credit margin is 2,30% and it reflects possession by the Customer of a Konto 360°, subject to monthly inflows of salary or other income (net) and having a debit card issued to that account as well as making non-cash transactions with this card in the minimum amount of PLN 500 per month, which is then kept by the Bank free of chargé.

In case of loans with variable interest rate, a standard offer on the Polish market, there is a risk of change of interest rates. The risk of change of interest rates means that if the reference rate grows, the interest rate for the loan will be higher, then the monthly principal and interest instalment will increase, which in return results in higher interest costs and thus in increase in the total cost of the mortgage loan.

Client may present property insurance or life insurance – acquired outside of the insurance offered by the Bank - concluded with any insurance company from the list published by KNF. Granting a loan with LTV (ratio between the total amount of the mortgage loan and the value of the property that is the security) above 80%, but not more than 90%, is possible only with an additional security in the form of high LTV risk insurance.

Mortgage calculator

Calculate the installment

Estimate creditworthy

The value of the property
The value of the credit
Repayment period in years
Instalment type
Monthly net income of the borrowers
The sum of the limits in ROR
and credit card limits
The sum of monthly installments
on loans and advances
The number of people in the household
Installment with the specified parameters
877
Interest

3.93 %

The above calculation contains tentative data and is not binding. It is for information purposes only and does not constitute an offer, recommendation, nor invitation addressed to anyone (or any group of persons) to sign a loan agreement with the presented terms and conditions.

Fees, commissions and interest rate are stipulated in the Mortgage/Home Equity Loan Price List. Details concerning the principles and conditions for 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 www.bankmillennium.pl. The Bank will assess the Applicant’s credit capacity and creditworthiness on a case-by-case basis prior to granting the loan; in justified cases the Bank may refuse to grant it.

Annual Percentage Rate (APR) is 4.60% and it was calculated with the assumption that WIBOR 3M is 1.73 % (as of 28.04.2017). The total amount of the mortgage loan (net of debt-financed costs) is PLN 230,000; the total amount to be paid by the consumer PLN 381 662,69; variable interest rate 4,03%; the total cost of mortgage loan PLN 151 662,69 (including: loan approval fee PLN 0; interest PLN 135 350,98; fee for increased risk until the mortgage is written for 6 months in the amount of PLN 1 152; real estate fire and other accidents insurance as per the offer available via the Bank PLN 6 300; life insurance as per the offer available via the Bank PLN 8 060,71; fee for real estate value appraisal PLN 480; Tax on Civil Law transactions as well as court fees for writing and removing the mortgage PLN 319 in total); loan tenor 25 years; loan instalment PLN 1 217,84, number of instalments 300. The calculation was made as of 01.05.2017 on a representative example, assuming that: the loan will be secured with mortgage on newly purchased property, whereas the value of the property which is to secure the loan totals 285 000 PLN, credit margin is 2,30% and it reflects possession by the Customer of a Konto 360°, subject to monthly inflows of salary or other income (net) and having a debit card issued to that account as well as making non-cash transactions with this card in the minimum amount of PLN 500 per month, which is then kept by the Bank free of chargé.

In case of loans with variable interest rate, a standard offer on the Polish market, there is a risk of change of interest rates. The risk of change of interest rates means that if the reference rate grows, the interest rate for the loan will be higher, then the monthly principal and interest instalment will increase, which in return results in higher interest costs and thus in increase in the total cost of the mortgage loan.

Client may present property insurance or life insurance – acquired outside of the insurance offered by the Bank - concluded with any insurance company from the list published by KNF. Granting a loan with LTV (ratio between the total amount of the mortgage loan and the value of the property that is the security) above 80%, but not more than 90%, is possible only with an additional security in the form of high LTV risk insurance.

What are your needs?

  • I want to buy a flat or a house

    What can you spend Millennium Mortgage Loan on?

    • purchase of a flat or house (ready-to-move or in construction) from a developer, housing co-operative or a private person
    • purchase of a municipal and company flat/house
    • purchase of a share in real estate
    • purchase of agricultural real estate with a residential building
    • purchase of land for housing development (also with an unfinished house)
    • refinancing costs incurred for residential purposes within the last 12 months

  • I am building a house

    What can you spend Millennium Mortgage Loan on?

    • DIY building of a house
    • building a house by a developer, housing co-operative, general contractor
    • building an all-year house on a recreational plot of land
    • refinancing costs incurred for residential purposes within the last 12 months

    What benefits will you get?

    • plot of land constitutes a downpayment, as a result you don' t need to have ready cash
    • the opportunity to finance each stage of house construction: simultaneous purchase of plot of land and house construction, as well as cosntruction to  ‘property developer's standards' or partly construction
    • no obligation to present invoices for materials purchased and services paid
    • the opportunity to refinance spendings borne previously (financial means acquired based on this opportunity may be spent according to your individual preferences, e.g. for furnishing)

Details

  • Loan amount

    Minimum loan amount: PLN 20 thds
    Maximum loan amount: depend on an assessment of creditworthiness Applicants

  • Lending period

    Minimum lending period: 6 years
    Maximum lending period: 35 years


  • Loan disbursement options

    The loan may be disbursed in one or more tranches

  • Loan repayment

    You may choose to repay your loan in fixed or decreasing installments.

    Within the lending period you can use a number of facilities. We offer:

    • loan holidays - the option to skip one monthly repayment within a year
    • 24 months' grace period - opportunity to postpone loan principal repayment
    • the loan may be repaid earlier – at no charge

TeleMillennium

Our Consultants will provide 7/24 detailed information and will carry out your instructions.

801 331 331
fixed line calls and mobile

Interest rates

Bank Millennium offers mortgage loans with variable interest rates. Interest rates change each 3 months.

Precise interest rate of your loan depends on the loan amount and the relation of your loan amount against the value of collateral real estate.

Check mortgage interest rates in Bank Millennium

Fees

Loan granting commission fee 0%
The fee for early repayment of a Mortgage Loan is 0%

  • Fee for opinion of collateral value

    Fee for opinion of collateral value
    Apartment/plot of land PLN 480*
    Dwelling house (detached house / terraced house / semi-detached house / all-year summer house) PLN 800*
    Investment control (for mortgage loans disbursed in tranches) PLN 300

    * The fee is charged after a positive credit decision, as the condition to signing loan agreement


  • Other fees for Mortgage Loan

    Other fees for Mortgage Loan
    Commission for PLN loan amount increase 2%
    Risk commission (charged monthly until mortgage is registered) 0,0833% (1% per annum)
    Commission for issuance of certificate /opinion PLN 100
    Commission for issuance of certificate re. interests paid on mortgage loan PLN 6
    Annex fee/ operations from 200 to PLN 500

Collaterals

In order to be granted a loan in Bank Millennium, you should have a proper collateral. Final collateral of Millennium mortgage loan is:

  • final entry of the first mortgage on a residential real estate entered in favour of Millennium

NOTE! Please note that mortgage may be collateralized with a real estate other than the one being financed, any real estate which belongs to you or to a third person.

  • assignment of rights under real estate insurance
  • assignment of rights under life insurance of the Borrower

Until final collateral is established a temporary collateral shall be used. Standard in Bank Millennium is risk commission until final entry of the first mortgage on a residential real estate in favour of Millennium is entered.

NOTE! Monthly risk commission in Bank Millennium amounts to just 0.0833% of loan amount. 

Mortgage loan guide

How to get a mortgage loan in Bank Millennium

How to get

Online Application

If you are interested in the offer

TeleMillennium

Call us

801 331 331
In our branches
Choose the nearest branch