Housing loans with fixed 2 pct interest rate to be introduced by Polish gov’t

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The development and technology minister said on Friday that Poland wants to introduce housing loans with a fixed 2 per cent interest rate for a period of 10 years, with the actual interest rate difference covered by the state.

Waldemar Buda said that “it’s a credit that will be based on an interest rate of 2 per cent,” and added that “anything above that threshold will be state subsidised.”

The interest rate will be fixed for a period of 10 years.

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The loan will be offered to people up to 45 years old and only for the first house or apartment.

The maximum loan value in the frame of the scheme will be PLN 500,000 (EUR 106,540) for a single-person household and PLN 600,000 (EUR 127,862) for a married couple or family.

A housing savings product will also be made available, offering interest to the tune of the consumer inflation rate or the housing price index, Buda said.

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