After several months of stagnation in the banks’ mortgage promotional offers, a new player has finally appeared in the arena. Credit Agricole joined the lenders offering special conditions, with a lower margin in the first year of repayment.
The most difficult moments in decades are happening on the mortgage market. Sales are plunging, and the latest inflation reading may herald that the moment of interest rate stabilisation is moving away. In this scenery, it is difficult to talk about mass promotion of mortgages – every potential borrower with the ability and willingness to sign a contract is a valuable asset.
After decisive summer reductions, especially in terms of loans with periodically fixed rates, we observe a reverse trend – promotional conditions in several banks have slightly deteriorated. However, new players appeared. Credit Agricole joined the group of banks offering special packages in August.
Credit Agricole debuts with mortgage promotion
The promotional offer at Credit Agricole is based on a reduced margin for the first 12 months of the contract. The rate is then 1.1 pp., And in the following years – 1.79 pp. A similar structure is available to those who choose a loan with a fixed interest rate for 7 years. The required minimum contribution is 20%.
The condition for taking advantage of the promotion is:
- opening a personal account (or already having this product),
- influence of remuneration on the account in the amount of min. 2.5 thousand PLN for the entire loan period,
- taking out life insurance through a bank and maintaining it for a minimum of 5 years.
The “Prosto do dom” offer will be available until November 9, 2022.
Another promotion from ING Bank Śląski
At ING Bank Śląski , a promotional campaign under the slogan “Holidays on your own” lasts until September 19. The amount of the mortgage covered by the promotion must be in the range of PLN 100,000. PLN up to PLN 1.5 million. Before signing the financing agreement, the customer should also have a personal account with the bank with a declaration of monthly inflows in the amount of PLN 2,000. zloty. Additionally, at least one person should conclude an individual insurance contract through ING Bank Śląski.
All borrowers should also have access to the internet banking system throughout the repayment period. An additional condition for participation in the promotion is consent to behavioural verification, increasing the security of using the transaction website.
Borrowers can choose between two variants of a floating rate mortgage:
- “Easy start” with a margin of 1.65 pp. and a commission of 0 percent;
- “Light instalment” with a margin of 1.59 pp. and a commission of 0.75 percent.
The rate is slightly higher than in the previous promotional campaign for the version with zero commission in August (an increase of 0.01 pp.). In the second variant, the margin did not change, but the commission fell (by 0.25 pp).
ING clients can also benefit from a periodically fixed interest rate for 5 years. As of September 1, 2022, the rates are 8.10 percent in the “Easy start” version (no commission) and 8.04 percent. in the “Light instalment” variant (with a commission of 0.75 percent). Compared to the proposals from August 1, the rates went up by 0.52 pp. On the other hand, the commission decreased (by 0.25 pp.).
“Make dreams come true 9” at mBank
MBank’s promotional campaign called “Make your dreams come true edition 9” lasts until October 5, 2022. It is worth noting that for several months the bank has been using a slightly different approach to setting promotional price lists – the rates are announced not for the entire duration of the campaign, but for shorter periods.
The minimum loan amount is PLN 100,000 zloty. The bank does not charge a commission for granting financing. The client must enrol in life insurance and pay premiums for at least 5 years. The premium is collected monthly in the amount of 0.045%. debt balances. The terms of the campaign vary depending on the client’s status.
The Intensive segment will include new and existing customers who will meet the following conditions for 5 years from the disbursement of the first tranche of the loan:
- join life insurance,
- have a personal account called mKonto Intensive, which is affected by at least 7 thousand. PLN per month and from which the instalment will be repaid,
- will make at least 15 payment transactions (by card or contactless phone) a month.
Intensive segment customers can count on margin rates amounting to: 2.50 pp. (for LTV equal to 80% or less) and 3.00 pp. (for LTV above 80%).
The Active segment will include new and existing customers who will meet the following conditions for 5 years from the disbursement of the first tranche of the loan:
- join life insurance,
- have a personal account with at least 5,000 PLN per month,
- will make at least 15 payment transactions (by card or contactless phone) a month.
Active customers can count on promotional mortgage margin rates of 2.70 pp, respectively. (for own contribution of at least 20%) and 3.20 pp. (lower own contribution).
People who are not bank customers or do not belong to the Active or Intensive segment can count on a margin reduced to the level of:
- 2.80 pp. – with own contribution equal to at least 20%,
- 3.30 pp. – with own contribution below 20%
In comparison to the proposals served by mBank, there were solid increases in August. In each of the scenarios, the margin is currently 0.3 pp higher.
The condition for taking advantage of the promotion is that any mBank account is credited with an amount equal to at least twice the instalment and that you have life insurance. The requirements are checked by the bank every six months. Failure to meet them means an increase in the margin by 1.5 pp.
Promotion for loans with a periodically fixed interest rate at mBank
“Dream m with a periodically fixed interest rate 11 edition” – this is the name of the promotional campaign of loans with a fixed rate at mBank, which lasts until October 5, 2022. Also in this case, there are 3 variants of rates, and the requirements are the same as in the “floating-rate” promotion.
Borrowers from the Intensive group can count on the promotion, lowered by 2 pp. from the standard interest rate in the first 5 years of repayment. It is 9.06 percent. for loans with a own contribution equal to 20% or higher and 9.56 percent. for other liabilities.
Active borrowers receive a slightly less attractive offer. In the first 5 years, the interest rate will be 9.26 percent. (for a contribution of at least 20%) or 9.76%. (for a lower own contribution).
For the remaining customer groups, the promotional interest rate will be 9.36 percent. (with own contribution of at least 20%) or 9.86%. (lower own contribution).
Compared to August, we recorded an increase in interest rates on loans with a periodically constant rate. The rates increased equally in each of the options – by 0.11 pp.
The “Intensively Green” promotion is underway at BPS Bank
BPS Bank continues its campaign under the name of “Intensively Green”. The promotional conditions are available until further notice, but no later than September 30, 2022. The lender offers several variants of the offer, including a special bonus for buyers or builders of a property whose annual energy demand (for heating and ventilation) does not exceed 40 kWh / m sq.
In the first scenario, it is required to have a personal VIP Account throughout the crediting period and purchase a real estate insurance package. The margin is 1.87 pp. And the commission is 0%.
In the second scenario, an additional requirement is to have a Mastercard World credit card for the entire credit period. The margin is 1.77 pp. And the commission is 0%.
In the third scenario, the borrower additionally pays for life insurance from the bank’s offer for a minimum of five years. The credit margin is 1.67 pp, and the commission is 0%.
The ecological bonus is zero interest for the first half of the year of credit, as well as zero commission and a margin of 1.67 pp. It can be used for requirements such as the third scenario mentioned above (account, credit card, real estate and life insurance).
Borrowers can also take advantage of offers with an interest rate that is periodically fixed for 5 years. The rates for the three scenarios mentioned above are 8.88%, 8.78%, respectively. and 8.68 percent. Compared to the conditions available at the beginning of June, we recorded an increase of 0.02 pp.
Alior Bank – promotions for selected cities
Alior Bank continues to encourage borrowers from selected cities to take advantage of the promotional offers “Own M in the capital and surrounding area” and “Own M in Krakow and the surrounding area”. Customers purchasing real estate in the above-mentioned towns and several municipalities and counties in the Warsaw and Krakow agglomerations can count on special financing conditions. From mid-July, as part of the above-mentioned promotions, you can also take out a loan without a deposit, with a guaranteed contribution .
The minimum loan amount is PLN 100,000. PLN, and the maximum – PLN 3 million. The bank does not charge a commission for granting financing and does not increase the margin while waiting for the mortgage to be entered in the land and mortgage register, moreover, no additional cross-sell is required, i.e. purchase of life insurance. Making your own contribution in the amount exceeding 20% can count on a margin of 1.99 pp. For other borrowers, the rate is 2.19 pp. There is also a loan option with a periodically fixed interest rate for 7 years.
Bank Pekao – the special offer continues
Promotional conditions offered to borrowers at Bank Pekao were extended until September 15th . There you can use special lending options in two variants. In the scenario with the repayment insurance required for 4 years, the commission is 0%. (with a standard margin), and the minimum margin rate of 1.79 pp.
A mortgage without insurance is available with a commission starting from 1.99%. and a margin from 1.94 pp.
Promotional options at PKO BP extended
PKO Bank Polski has prepared several special promotional offers for mortgage borrowers. Those who choose life insurance or unemployment insurance can count on a zero commission rate. Customers with the “Large Family Card” will receive a commission proposal reduced by half compared to the standard offer. Until October 31, 2022, it is also lowered by 1 pp. (earlier by 0.5 pp) interest on loans with a periodically fixed rate.
In the Own Angle Package offer, when using a personal account, 4-year unemployment insurance, credit card or life insurance, the margin in the first year is reduced to 1.1 pp