Mortgage loans

Information about your mortgage

Information about your mortgage is available:

  • on Millenet - online banking system
  • telephone line dedicated to mortgage products (+48) 22 598 40 60, Mon-Fri 8:00- a.m. – 8:00 p.m.

Mortgage products specialists:

  • help in difficult credit situations,
  • guide you through the banking processes and procedures,
  • answer all questions and concerns related to your loan.

Changes in loan

  • Longer grace period

    Grace period is the period when you pay interest only. The bank should issue a decision on the request for an extension of the grace period within 14 days (from the date of the application in a branch).

    Deadlines

    • If your loan is intended for any purpose, the maximum grace period for principal installment is 6 months. Within this period all you pay is just the interest. In the case of a Mortgage Loan, you should start paying full principal-interest installments no later than after 24 months of lending period.
    • The Bank typically gives consent to extend the grace period within 14 days (of the application submission to branch).

    Documents

    Fill in the documents and submit them to any Millennium branch.

    NOTE!

    We can decide to extend your grace period without your having to resubmit the financial documents, if our decision is to be taken within 12 months of the day of issuing the last decision for which you provided the financial documents. We can use them to assess your loan repayment capacity after extension of grace period, if you declare that your income has not fallenand that has not changed form of obtaining them (eg, the employer, or business activities that are running).

    Fees

    Fee for extension of grace period - according to up-to-date Pricelist Kredyt Hipoteczny/Pożyczka Hipoteczna - PLN 500.


  • Shorter grace period

    Want to shorten your grace period? You don't need to visit one of Millennium branches and can do it online. Just log on to Millenet, go to "Kredyty, "Informacje szczegółowe", drop down "Więcej" list and choose "Skrócenie okresu karencji" option.

    If you want to do it in any Millennium branch, use Shortened application for loan amendment at any branche. The form is also available in Millennium branches.

    Deadlines

    • if you apply for shorter grace period in Millennium branch, please inform us about it at least 14 days before your next installment is due. If you submit the application no later than 14 days before the next installment date, the next and subsequent payments will already comprise principal and interest rates
    • if you want to shorten your grace period on-line, it is enough that you aplly for shorter grace period 3 days before the next installment payment date.

    Documents

    • Fill in Application for loan amendment and submit it to any Millennium branch,
    • if you apply for shorter grace period in Millennium branch, in the case of loan agreements signed after the 1st of March 2007 shortening the grace period does not require an annex. If it is necessary to prepare an annex, its cost is consistent with the current Pricelist Kredyt Hipoteczny/Pożyczka Hipoteczna,
    • if you apply for shorter grace period on-line, there's no need to sign an annex.

    Fees

    Fee for shortening the grace period - according to up-to-date Pricelist Kredyt Hipoteczny/Pożyczka Hipoteczna - PLN 200.

    NOTE!

    Shortening the period of grace is not possible, if the loan has not been paid in full.


  • Change of installment type

    You can apply for a change of installment type any time during the lending period. If you are interested in changing the fixed installments on decreasing, all you have to do is just submit Application for loan amendment. If you want to change decreasing installments in fixed all you have to do is just submit Shortened application for loan amendment. The form is also available in Millennium branches.

    The difference between fixed and decreasing installments consists in a different proportion between principal and interest. When you choose to repay your loan in decreasing installments, your principal installment is fixed, while interests are getting down in subsequent months, as the base for their calculation (i.e. loan amount due) is decreasing. In the system of decreasing installments your installment is relatively high at the very beginning of repayment.In the case of fixed installments debt balance is distributed evenly throughout subsequent months. The principal proportion is increasing, while the interest proportion is decreasing.

    Deadlines

    • You can apply for a change of installment type at any time of your lending period.
    • If you submit your application no later than 14 days before the payment date, and the analysis concludes in approval, the new installment type shall be applicable as of the nearest repayment. Otherwise, the new type of installment shall be in force starting from the following month.

    Documents

    • Application for loan amendment - fill it in and submit to any Millennium branch,
    • a copy of mortgage register (valid for 3 months),
    • financial documents, confirming income earned by you and your Co-borrowers (if applicable).

    NOTE!

    We can decide to change your installment type without your having to resubmit the financial documents, if our decision is to be taken within 12 months of the day of issuing the last decision for which you provided the financial documents. We can use them to assess your loan repayment capacity after extension of grace period, if you declare that your income has not fallen.

    Fees

    Fee for change of installment type - according to up-to-date Pricelist Kredyt Hipoteczny/Pożyczka Hipoteczna - PLN 500.


  • Extension of lending period

    The longer lending period you choose, the lower monthly debt service costs are. Please note, however, that prolongation of lending period results in an increase in total amount of interest rates accrued. If you want to apply for a longer lending period, please submit Application for loan amendment. The form is also available in Millennium branches.

    Deadlines

    • You can apply for extension of lending period at any time. Please note that we will extend it if it does not exceed the maximum lending period available.
    • The Bank typically gives consent to extension of lending period within 14 days (of the application submission to branch, as long as your application is complete).
    • If the analysis of your application concludes in approval and all necessary conditions are fulfilled, extended lending period (and - as a result - lower installments) shall be applicable as of the nearest repayment. Otherwise, extended lending period shall be in force starting from the following month.

    Documents

    Fill in Application for loan amendment and submit it to any Millennium branch.

    Fees

    • fee for extension of lending period - according to up-to-date Pricelist Kredyt Hipoteczny/Pożyczka Hipoteczna - PLN 500.
    • the cost of mortgage register entry modification - PLN 150.

  • Loan amount increase

    If you want to apply for a loan amount increase, please submit Application for loan amendment. The form is also available in Millennium branches.

    Deadlines

    You can apply for loan amount increase any time you wish. The Bank will give consent to it as long as you fulfil any requirements necessary and have credit worthiness to repay higher loan installments.

    Documents

    • Application for loan amendment),
    • documents confirming the purpose of increasing the loan amount (in the case of increasing the loan amount for any purpose you have to declare that the funds will be spent on any purpose),
    • a copy of mortgage register (valid for 3 months),
    • financial documents, confirming income earned by you and your Co-borrowers (if applicable),
    • upon giving a consent to increase your loan amount the Bank will provide you with documents to be submitted to the court in order to modify the mortgage register. Typically, loan amount increase results in a necessity to modify the mortgage entry as to its amount and to the amount of loan it secures.
    NOTE!
    • If you have correctly serviced the loan for at least 12 months, loan amount increase will be carried out based on your application alone, with no need to verify your income again. In the remaining cases we can decide to increase your loan amount without your having to resubmit the financial documents, if our decision is to be taken within 12 months of the day of issuing the last decision for which you provided the financial documents. We can use them to assess your loan repayment capacity after loan amount increase, if you declare that your income has not fallen.
    • Application for loan amount increase can be approved without it being necessary to prepare a new appraisal. If it is necessary to reappraise the collateral real estate or specify the degree of loan utilization, the Bank will inform you about the level of related fees and order the investment project appraisal or control at your cost. The appraisal or control will be held after you have secured funds sufficient to carry them out.

    Fees

    • appraisal fees - dependant on the type of the real estate: PLN 480 or PLN 800
    • depending on the stage of mortgage entry in favor of the Bank in the mortgage register of the real estate collateralizing the loan:
      • if final and effective - for as long as the contents is not modified, an increased risk commission shall be charged - 1% p.a. (premium charged monthly)
      • if not registered yet - you shall pay a temporary bridge insurance (premium payable monthly at 0.0833% of insurance amount)
    • as a result of increasing the loan the life insurance premium will be established on the basis of new, higher insurance amount
    • should the value of the real estate change, the real estate insurance premium will change too.

    Loan amount increase commission:

    • 2% for PLN loans

    The commission fee shall be paid on the date of extra funds disbursement at the latest.


  • Loan holidays

    Want to take loan holidays? You don't need to visit one of Millennium branches and can do it online. Just log on to Millenet, go to details of your mortgage and choose application "Wakacje kredytowe". If you want to do it in any Millennium branch, the form of application for loan amendment is available in Millennium branches. Loan holidays are available once a year.

    Conditions

    You can take loan holidays:

    • once a year
    • after 12 months of signing the loan agreement
    • after total loan disbursement (when the final tranche was disbursed)
    • after the grace period
    • if there are no late payments in your debt service

    If you apply forloan holidays in Millennium branch, please inform us about it at least 14 days before your next installment is due. If you submit the application no later than 14 days before the next installment date, you will not pay the next installment. If you want to apply for loan holidays on-line, it is enough that you apply 3 days before the next installment payment date.

    Fees

    • if you signed your loan agreement after October 2004 - loan holidays are free of charge
    • if you signed your loan agreement before October 2004 - you will pay an annex fee of PLN 200.

    NOTE!

    • Next holidays will be free of charge.
    • Taking loan holidays does not result in extended lending period. Lending period remains the same, and subsequent installments will increase by the amount of installment due (interest is going to be capitalized).

  • Adding/Removing a Co-borrower

    You can apply for adding/removing a Co-borrower any time during the lending period. All you have to do is just submit Application for loan amendment. The form is also available in Millennium branches.

    Deadlines

    • you can apply for adding/removing a Co-borrower at any time.
    • the Bank typically gives consent to adding/removing a Co-borrower within 14 days (of the application submission to branch, as long as your application is complete), as it is necessary to verify your credit worthiness.

    Documents

    • Aplication for loan amendment,
    • a copy of mortgage register (valid for 3 months),
    • up-to-date financial documents, confirming your income - in the case of adding a Co-borrower: confirming income of Borrowers repaying the loan after adding the Co-borrower, and in the case of removing: confirming income of the person remaining the Borrower,
    • identity documents of the person being removed and person being added.

    The documents relating to income should be analogous as when taking out the loan; the Bank will reassess the capacity of the Borrower/Borrowers to repay loan installments after adding/removing the Borrower.

    NOTE!

    If you have correctly serviced the loan for at least 12 months, adding/removing a Co-borrower will be carried out based on your application alone, with no need to verify your income again.In the remaining cases we can decide to add/remove a Co-borrower without your having to resubmit the financial documents, if our decision is to be taken within 12 months of the day of issuing the last decision for which you provided the financial documents. We can use them to assess your loan repayment capacity after adding/removing a Co-borrower, if you declare that your income has not fallen.

    In the case of Borrowers being spouses at the time of detaching a Borrower the following are additionally required:

    • documents on the basis of which removing of A Borrower takes place (e.g. notarial deed on the break-up of assets or decision of a court on divorce/separation).

    In the case of adding a Borrower the following are required as a standard.

    • identity documents of the person being added. 

    Fees

    Fee for adding/removing a Co-borrower - according to up-to-date Pricelist Kredyt Hipoteczny/Pożyczka Hipoteczna - PLN 500.


Documents

Documents useful for mortgage borrowers

  • Disbursement order

    You decide when we are to disburse the agreed amount of mortgage loan/home equity loan. Please fill in the document by selecting the bank account number and type of disbursement:

    • one-off
    • in tranches.

    Sign the document and submit it to any Millennium branch.

  • Application for loan amendment

    Fill in the document, if you would like to apply for:

    • loan amount increase
    • longer grace period
    • extension of lending period
    • adding/removing a Co-borrower etc.

    Application may be submitted to any Millennium branch.

  • Shortened application for loan amendment

    Fill in the document, if you would like to apply for:

    • loan holidays
    • shorter grace period
    • change of installment payment

    You can make the change yourself by calling the Mortgage Call Centre. To get access to this functionality all borrowers must go to their nearest Millennium branch and sign powers of attorney to change contractual terms and conditions by means of KBE (if one borrower is party to the agreement the functionality shall be activated automatically after disbursement of the loan and does not require signing the powers of attorney).

    Application may be submitted to any Millennium branch.

  • Application for issuance of certificate/opinion

    Fill in this document, if you need a certificate or an opinion about a mortgage loan/home equity loan granted by Bank Millennium. State precisely the purpose for which the certificate is to be issued. Certificate is issued for instance if you want to sell the real estate and thus repay the loan in Bank Millennium. The certificate contains information about the current loan balance and the number of bank account to which funds shall be paid for the repayment of the liability in full (this is a technical Bank account).

    NOTE! The certificate issued for the purpose of the total loan repayment does not contain the Customer's personal account number. The loan is prepaid in full through the Bank's technical account.

    Opinion on the Loan contains general information about the loan and its status, amount and currency of the loan, purpose of lending, scheduled loan maturity (repayment date), collateral, balance of debt and the level of installment as of the day of the opinion and also if the loan is being repaid on time. It is usually issued if required by another bank in which you are taking out a loan or the Tax Office. It is also possible to order a certificate/opinion by Contact option in the on-line Millenet banking system.

    You can make the change yourself by calling the Mortgage Call Centre. To get access to this functionality all borrowers must go to their nearest Millennium branch and sign powers of attorney to change contractual terms and conditions by means of KBE (if one borrower is party to the agreement the functionality shall be activated automatically after disbursement of the loan and does not require signing the powers of attorney).

  • Early repayment order

    Document ought to be filled in, if you need to make an overpayment or repayment of the total debt by the deadline specified in the mortgage loan/home equity loan agreement. If you plan a repayment of part of the mortgage loan/home equity loan amount, select the option which is best for you:

    • shorten the period of lending
    • reduce the level of the loan installment.

    You can make the change yourself by calling the Mortgage Call Centre. To get access to this functionality all borrowers must go to their nearest Millennium branch and sign powers of attorney to change contractual terms and conditions by means of KBE (if one borrower is party to the agreement the functionality shall be activated automatically after disbursement of the loan and does not require signing the powers of attorney).

    Application may be submitted to any Millennium branch.

Fees and commissions

Loan granting commission fee for Home Equity Loan, Debt Consolidation Loan and Refinance Loan  
Currency PLN 2%

 

Fee for opinion of collateral value  
Apartment / plot of land  480 PLN*
Dwelling house (detached house / terraced house / semi-detached house / all-year summer house) 800 PLN*
Investment control fee in case of loan secured on other property than funding or/and loan disbursed in tranches 300 PLN**

* the fee is charged after a positive credit decision, as the condition to signing loan agreement 
** refers only to Mortgage Loan and Business Mortgage.

Currency conversion commission for Mortgage Loan, Home Equity Loan, Debt Consolidation Loan  
Currency conversion to PLN 0%

 

Mortgage Loan early repayment fee for Mortgage Loan  
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 Loan, Home Equity Loan and Debt Consolidation 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 100 PLN
Commission for issuance of certificate re. interests paid on mortgage loan 6 PLN
Annex fee 200 PLN

 

Current reference rates

To find out current reference rate, a constituent of your loan interest, select the date of your agreement:

Agreements signed up to February 29th, 2004

Loan currency Reference rate Value
CHF LIBOR CHF 6M -0,7576%
PLN WIBOR 3M 1,6500%
USD LIBOR USD 6M 1,2445%
EUR EURIBOR 6M -0,1340%

Agreements signed up to December 31st, 2004

Loan currency Reference rate Value
CHF LIBOR CHF 6M -0,6800%
PLN WIBOR 3M 1,7300%
USD LIBOR USD 6M 1,2888%
EUR EURIBOR 6M -0,2190%

Agreements signed after January 1st, 2005

Loan currency Reference rate Value
CHF LIBOR CHF 3M -0,7500%
PLN WIBOR 3M 1,7100%
USD LIBOR USD 3M 0,8537%
EUR EURIBOR 3M -0,3010%

Agreements signed after July 1st, 2010 in PLN *

Date of preparation agreement Reference rate Value
January, April, July, October WIBOR 3M 1,7100%
February, May, August, November WIBOR 3M 1,7200%
March, June, September, December WIBOR 3M 1,7300%

* The WIBOR 3M reference rate, on the basis of which the Bank calculates the interest rate on the loan for next 3 months of validity of the mortgage loan agreement changes in 3-month cycles on the same day of the month, on which the Agreement was signed. In which it is changed for purposes of calculation of the interest rate, valid for the next 3 months the Bank takes the value of the WIBOR 3M reference rate from the last working day of the month preceding the month.

Note: In the month, in which the loan interest rate is changed due to the end of another 3-month cycle, the interest rate is calculated as follows:
- from the 1st day of the month until the day of change of the interest rate an interest rate applies, which is based on the WIBOR 3M rate, valid in the previous 3-month cycle;
- from the next day of the month after the day of change of interest rate till the last day of the month an interest rate shall apply, which is based on the new WIBOR 3M rate, valid in the next 3-month cycle.