People who want to take out a loan must demonstrate that they are able to repay it, i.e. have creditworthiness. This is influenced by several factors, including, of course, earnings, as well as the number of dependents, whether the loan will be repaid by a single person or a married couple, other financial obligations and the period for which the loan will be taken. Due to the increase in housing prices, more and more people are interested in a loan for a million zlotys. What conditions must they meet, of course estimated, to receive it?
Apartments more expensive by up to 20 percent. Who can get a loan?
Prices in some Polish cities have risen by as much as 20 percent. These include Krakow, Warsaw, and Wroclaw, although Lodz, Szczecin, Gdansk, and Katowice are not far behind (from 11 to 20 percent). However, costs are not the only reason why more and more people cannot afford to buy their dream home. A separate issue is obtaining a loan, which is sometimes also difficult, and collecting the down payment (10 or 20 percent of the property value, depending on the bank). If you want to take out a million zloty loan as a single person, first of all you need to have a high income, preferably from an employment contract for an indefinite period. Banks look more favorably at such a financial situation, although of course it is not a guarantee that you will get a loan.
How much do you have to earn to get a loan of PLN 1 million? This is how much you have to earn to get a PLN 1 million loan. Photo: Cezary Aszkiełowicz / Agencja Wyborcza.pl
How much do you have to earn to get a 1 million zloty loan? The amount is shocking
According to the estimated calculations made by the website money.pl, to receive PLN 1 million as a single person, with no other financial obligations, no children to support and spread over 30 years, we are talking about earnings of around PLN 1 million. PLN 14,400 net per month. If you were to take out a loan with your partner, then your joint income should be 15,200 PLN net. Loan calculators also indicate earnings of around PLN 14,000, where the monthly loan installment with a 20 percent down payment could amount to even 7 thousand zlotys. In turn, as the portal finanserankomat.pl reports, with a 35-year loan minimum earnings should be 13,100 PLN net. Of course, it should be borne in mind that These are approximate and estimated amounts, as each case may be different.
High housing prices are a huge problem. “Massacre”
Current housing prices are causing more and more people to consider larger loans. However, getting them is as difficult as getting enough income.
– I would probably have to take another job to earn that much. Luckily, I inherited the apartment from my grandparents. But what about people who work for minimum wage? – wonders our interviewee Anita from Łódź. – Even if I could take out such a loan, an apartment for a million zlotys? That’s a massacre! When I was a child, I imagined huge residences with a swimming pool and jacuzzi for that amount – added Magdalena, who works remotely from Nowy Sącz, where years ago she bought a small apartment at a much better price than, for example, in Kraków, which is about 100 km away and where her company is headquartered. If you’d like, please vote in our poll below.
Source: Gazeta
Bruce is a talented author and journalist with a passion for entertainment . He currently works as a writer at the 247 News Agency, where he has established himself as a respected voice in the industry.
