Persons wishing financed the purchase of their "M" mortgage, which do not have a minimum of 5 percent. own contribution must hurry. Since January 2014, new regulations begin to take effect Recommendation S, which do not provide for the possibility of a mortgage in the amount of 100% of property value.
Mortgage lenders in debt in U.S. dollars do not currently have much reason to complain. With reference rate cuts Monetary Policy Council pretty much dropped the average interest rate denominated mortgage loans. Double benefit of the people who are currently invading your loans. Their interest rates declined, and what goes, their service will lower costs. Lowering the cost of lending also affects the increase of the average creditworthiness. When the permanent value of income so you can now borrow more and on better terms than, say, a year ago. But the idyll does not last forever, because from the beginning of next year come into force the provisions of the new Recommendation S, which forces having their own contribution.
Only the contribution of
Entries recent Recommendation S refer to the Loan to Value ratio (LTV), which is the percentage ratio of loan to value protecting his property. In 2014, banks will be able to provide only loans whose LTV is up to 95%. In practice, this means that every borrower interested in mortgage savings will have to have a minimum of 5% of the purchased apartment. For example, a person who wants to buy an apartment on credit at a price of 300,000 zł, will have to collect a minimum of 15,000 zł own contribution.
These restrictions will be in accordance with Recommendation exacerbated in the coming years:
- 2015 - LtV should not exceed 90%
- 2016 - LtV should not exceed 85%, however, possible LTV of 90%, unless the insured, or secured in any other form will be excess over 85%,
- Since early 2017 - LtV should not exceed 80% LTV possible level to 90%, unless the insured, or secured in any other form will be a surplus of over 80%.
People who do not have adequate savings in the amount not left much time for finalizing the purchase agreement and the loan. After the new year, they will be able to credit the purchase of real estate, but only when you gather adequate capital.