To buy a first apartment in Poland will become easier? The government has prepared a new project
The Polish government intends to help those who buy their first home. In what way?
On July 1, 2023, the «First Home» program will start working in Poland. This is a mortgage subsidy scheme that should help people under the age of 45 buy their first home.
More about the program. So, the government will offer home loans with a fixed interest rate of 2% for 10 years — this applies only to the first house or apartment. People under the age of 45 will be able to take out such a loan. The size of the house to be purchased can be anything.
What will be the limit on the amount of the mortgage? If the loan is taken out by a single person, the maximum loan amount will be up to 500,000 PLN (€106,540); for married couples, families and single parents, the threshold reaches 600,000 PLN (€127,862).
As a bonus. Under the program, it will be possible to open a special savings account at a commercial bank. Moreover, if you meet a number of conditions, you can count on an additional financial bonus from the state. The conditions are as follows: you need to add from 106 euros to 426 euros in this account at least 11 times a year for 3-10 years, and then spend the accumulated amount to buy a house within the next five years.
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