Expand your knowledge on banks' mortgage offer
Those in need of a mortgage should have a careful look into Expander's ranking of banks' loan offers. According to Expander's experts, if you're in a hurry got to GE Money Bank, as it is the fastest bank for considering applications, followed closely by Fortis Bank, although the latter has only recently become active in the mortgage sector. PKO BP retains the leader's position when it comes to the best mortgage offer for those running their own business. The bank requires a firm to be active for six months, though in most institutions it is a year or even two. Also, the amount of necessary documentation is limited in PKO BP. In this category Raiffeisen Bank also meets the needs of entrepreneurs who are reluctant to or unable to reveal an income higher than zł.1,000 per month. The disadvantage of this offer is a very high interest rate.
For clients who have little or no capital, the cost of extra insurance is crucial. It has to be paid in order to get a good-sized mortgage from a bank. It is also important to make sure a bank does not raise the interest as own capital decreases. Flat interest rates and a reasonable cost of insurance are offered by mBank and MultiBank. The lowest insurance premium, 3.25 percent per five years, is offered by Pekao SA, however this bank approves mortgages only in Polish złoty and euro. PKO BP and BPH charge 3.5 percent per five years. However, when the own contribution is zero, the interest increases considerably.
Early repayment of a loan is often encumbered with a provision. If this is not the case, banks typically like to hamper early repayment by charging an extra fee for changing an agreement or by setting a minimum amount of the overcharge. Among the banks that offer the best conditions for prior payment of a mortgage are again mBank and MultiBank.
BOŚ seems to be the bank with the deepest and most generous pockets. This is largely due to a long maximum period of repayment, which is 35 years, and exceptionally low interest in Swiss francs (CHF). BPH, in turn, has no competitors with regard to customers from smaller towns, as the bank accepts lower maintenance costs for them.
As most customers opt for a mortgage denominated in Swiss francs, Millennium bank occupies the first position in the category of consolidated loans. Recently Millennium additionally decreased the interest of mortgages in CHF. When it comes to mortgage interest in złoty, Nykredit Realkredit and ING Bank Śląski are the leaders. They offer attractive margins at a level of one to 1.5 percentage points.
