Refinance Loan

About the loan

Millennium mortgage refinance loan is a loan for repayment of a housing loan you posess with another bank. Having transfered your loan to Millennium you can pay out a lower installment! You can also be granted additional funds for any purpose of your choice!

Why choose Millennium loan?

  • attractive margins and interest rates and an option to lower the spread by 0.5 p.p. within the lending period*
  • favorable lending period - up to 35 years

Additional benefits:

  • short time to Yes & Cash
  • acceptance of numerous sources of income - in Millennium you may be granted a loan, if you have contract of unspecified or specified duration, earn based on Civil Law contracts (e.g. contract of mandate or contract to perform a specific task), as well as when your run your own business (and are in a position to provide the Bank with suitable accounting and tax documents)
  • opportunity to combine housing and non-housing purposes within one loan agreement
  • convenience - a number of loan service facilities, e.g. loan holidays or grace period
  • friendly Customer service - numerous user-friendly internet options facilitiating loan service (e.g. option to submit order of earlier loan repayment, loan holidays, change of installment date etc.)

* 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).

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 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.


  • 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
    • earlier repayment option - no fees are charged after 4 years of lending period as well as within the first four years, unless total amount of early repayments exceeds 30% of loan amount granted.

  • Loan collateral

    Find out what collaterals will be required from you on granting the loan.

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


Mortgage refinance loan granting commission fee 0%
  • 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

  • Mortgage refinance loan early repayment fee

    After 4 years of lending period as well as within the first four years, unless total amount of early repayments exceeds 30% of loan amount granted 0%
    In other cases 2%

  • Other fees for Mortgage refinance 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


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

NOTE! If you don't wish to buy insurance on your own, we are here to help you - you can join group real estate and life insurance and enjoy double benefits - pay low premiums and save time (you don't need to annually provide the Bank with assignments of rights under real estate and life insuranceUntil 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 bridge insurance premium in Bank Millennium amounts to just 0.0833% of loan amount. The Bank will attend to all the formalities for you - all you need to do is just tick bridge insurance option in your loan application.

Optionally, you may want to provide for additional protection. Bank Millennium offers you to take advantage of payment protection insurance.

More details

For detailed information contact your nearest Bank Millennium Financial Centres