BGK's 2016 "Apartments for the Youth" fund limit reached

Bank Gospodarstwa Krajowego (BGK) has ceased accepting applications for the mortgage subsidy program – Apartments for the Youth (Mieszkanie dla Młodych), as 95 percent of the funds for 2016 have been reserved. "This year's budget limit was PLN 730 million, of which 95 percent is already reserved. In accordance with the rules of the statutory scheme [...], the remaining 5 percent of the funds planned in the budget will be used to provide funding as additional financial support for beneficiaries of the program, who have had or adopted a third or subsequent child," the bank explained. However, it is possible to submit an application for 2017 (with a PLN 746 million budget) or 2018 (PLN 762 million). The Apartments for the Youth program was launched in 2014 and replaced the “Family on its Own” mortgage subsidy program, which expired at the end of 2012.