Mortgage loans becoming more accessible, tempting with lower interest rates
The anticipation of lower interest rates has led banks to ease mortgage lending conditions. According to rankomat.pl, the average creditworthiness has increased to PLN 488,000, with interest rates decreasing. Despite the absence of a new government support program for property purchases, banks have relaxed their lending policies. Velo Bank and Credit Agricole notably raised credit limits by over PLN 40,000 in just one quarter. However, not all banks are following this trend, with some, like Santander Bank Polska, tightening credit conditions.
Additionally, seven out of eleven banks reduced mortgage rates, benefiting potential buyers. The current market conditions, including stable or falling property prices and improved credit terms, may encourage property purchases.
