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    Boosting Homeownership: Poland’s “Secure Loan 2%” Program Success

    Estimated reading time: 1 minute

    In a recent announcement, Vice President of the Polish Bank Association, Agnieszka Wachnicka, revealed that 40,800 housing loans have been granted under the “Secure Loan 2%” initiative. With over 69,300 applications received by November 23, the program has allocated nearly PLN 16.55 billion ($4.1 billion USD) in total.

    Average Loan and Budget Concerns

    The average loan amount sanctioned is PLN 405,000 ($101,000 USD). However, Wachnicka expressed concerns about the program’s budget nearing exhaustion. Presently, PLN 745 million ($186 million USD) has been utilized out of the PLN 941 million ($235 million USD) budget. The average subsidy from the budget stands at over PLN 18,000 ($4,500 USD).

    Wachnicka hinted at the possibility of the program halting in early 2024 unless the budget is replenished. Additionally, the Bank Association advocates for extending the Housing Account initiative, proposing a linkage between savings and affordable housing loans.

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