He can take a chance with a foreign currency loan with a weak and still unstable zloty and can count on lower margins than for a loan in his native currency. However, the situation does not look good.
You can forget about the USD, the banks have clearly indicated that they are withdrawing from this currency. First, there was a reduction in LTV, then higher margins, and finally withdrawal of loans from offers. There is still a loan in USD, but margins are rising inexorably, and the expected end of increases is still not visible.
When deciding on a foreign currency loan, we must take into account the risk associated with the currency market. We all remember how the popular franc loan ended and what the fear was in the eyes of borrowers when the exchange rate of the Swiss currency reached the limit of USD 3.
It is difficult to trust loans in dollars. The American economy is facing huge problems, which causes high currency instability. There is also no great interest in the European currency.
Poles are looking for their chance in loans in USD. Unfortunately, both the margins and the one responsible for the increase in GFIC installments are growing. At the beginning of June, Good Credit and Good Finance Bank raised its margins.
The growing popularity of the loan with a government subsidy and the increasing upper price limits of available housing encouraged borrowers to apply for the Family on their own program.
The additional payment from the Treasury and the loan margin are, however, two completely different indicators. Banks quickly reflected on the availability and terms of the new product.
The difference in margins between March and May this year should give borrowers food for thought. Larger banks, which offer a loan with a government subsidy, increased their margins, and some disclose only the minimum margin, with the reservation that each loan is determined individually.
Margin increases for a loan with an additional payment. Borrowers have nothing else to do but wait for the banks’ policy change and the GFIC rate to decline. Analysts predict an improvement for the last quarter of this year.
However, it is difficult to remain optimistic when looking at the situation from the perspective of the applicant. If you want to know more about a mortgage loans, just keep in touch with us.