April Update: 5‑Year Fixed Rates Touch 6.0 % — Fresh Savings Outlook for Expats in Poland

Good news travels fast — and this weeks brings a fresh wind!
Polish banks have shaved another notch off their 5‑year fixed mortgages, with BNP Paribas now quoting 6.00 % on its “Green Mortgage – Spring 2025” promo. If I good remember, that’s the first time we’ve seen a round 6.0 % since early 2023 and it spells real relief for anyone refinancing or gearing up to buy. Same BNP Paribas and Santander comes with 6,1 % for regular properties.

Is a temporary residence permit accepted, and does the bank require the physical card to be issued?

Santander Bank

• The bank assesses each case individually, but your residence card must be valid for at least three more months on the day you submit the application.
• Important: The application cannot be processed unless you provide both the residence‑card number and your assigned PESEL number.
• The bank accepts the Long‑Term Resident’s Card.

Who should look twice

• Current borrowers on ≥ 6.7 % fixed
• Current borrowers on variable (still 0,8 – 1,5%) higher than fixed)
• Buyers waiting for the market to cool. Locking a 5‑year fix at 6 % provides breathing space while prices stabilise and protection against second wave of inflation.
• Eco‑conscious home builders. The “Green Mortgage” discount stacks on top of standard promos.

Next steps

1. Download the full PDF for the fine print (insurance add‑ons, bridging instalments, total 30‑year cost).
2. Message me for a tailored quote — I’ll run the numbers in English at no cost or commission.
3. Mind the deadlines. Several spring campaigns expire 30 April 2025.

Questions? Fire away — happy to translate the small print or crunch a scenario for your situation.

A Few Quick Disclaimers

• You do not have to wait until 5 years of your currently signed fixed rate will expire in your current bank. You can refinance your loan literally the day after disbursement of your old loan.

• Property Type: Houses and apartments might get slightly different rates (due to EKO “ecology”) special offers

• Income Threshold: Some banks are stricter than others about your monthly earnings to give the lowest rate possible (mBank, Santander)

• Residency Status: If you’re on a temporary residence permit, a couple of lenders might be off-limits—but there are still others with almost the same deals. For instance PKO BP and CITI accepts only permanent residency, while Velo requires Polish citizenship).

• The whole process, from consultations, analysis, processing the refinancing into a new more profitable bank for you and even supporting you in a bank’s branch – it’s 100% free of charge! You pay us literally nothing, and get precisely 1:1 the same offer as if you would visit for example ING, Millennium, mBank’s etc. branches by yourself. The banks have special marketing funds to reward us from successful transfers. So it’s a full win – win for either you and us.

If you have recently signed a mortgage contract with a fixed interest rate for 5 years, refinancing will help you to take advantage of reducing your high interest % rate, monthly payments and the total cost of the loan. There’s no rocket science – we already helped over a hundred of our clients in 2023/2024 since inflation escalated and bank’s rates went wildly skyrocketing.

Even though this process is fast and simple, it requires analysis and understanding of a few key factors. In the following article, I explain when it is worth considering refinancing your mortgage, how the process works, and what benefits it can bring. If you are considering transferring your loan, this guide is for you!

What mortgage refinancing actually is?

Mortgage refinancing involves transferring an existing loan to another bank to obtain better financial terms. This can include:

• Lowering monthly payments – by renegotiating the loan terms, you can reduce the amount of your monthly payments.
• Extending the loan term – a longer repayment period can lower the monthly payment, which is beneficial for your household budget.
• Reducing the total cost of the loan – lower interest rates or margins can significantly decrease the total cost of the loan.

When should you consider refinancing your mortgage?

Refinancing your mortgage can be beneficial in several key situations:

• Changing market conditions – banks regularly update their offers, which may result in better loan conditions than those in your current agreement.
• Payment difficulties – if your mortgage payment becomes too challenging for your household budget, refinancing can help lower the monthly payment by extending the repayment period.
• Consolidating debts – if you have multiple financial obligations, transferring your mortgage can simplify financial management by consolidating all debts into one loan.

Common reasons for refinancing a mortgage

Borrowers often decide to refinance for the following reasons:

• High fixed rate signed for 5 years period – If your current mortgage has a high fixed interest rate, refinancing will help you take advantage of lower rates available in the market, reducing your monthly payments and the total cost of the loan. Remember, you do not have to wait until 5 years of signed fixed rate will expire in your current bank. You can refinance your loan literally day after disbursement of your old loan.
• Low own contribution payment when signed the mortgage – the original loan may have been more expensive due to a low own contribution (down payment). Refinancing can provide better terms thanks to improved creditworthiness.
• High margin – the loan margin is a fixed component of the interest rate throughout the loan period. A high margin can be a significant burden on the household budget, so reducing it through refinancing can bring additional savings.

How to transfer a mortgage to another bank?

The process of transferring a mortgage consists of several steps:

1. Analyze offers with a mortgage expert – compare the available offers from banks, considering all additional costs such as fees and commissions.
2. Understand all costs – the mortgage expert will check if the early repayment of the current loan involves additional costs, such as early repayment fees, notary fees, property valuation costs, and court fees.
3. Submit a loan application – after selecting a specific offer, the expert will help you submit an application for refinancing at the new bank.
4. Repay the debt at the current bank – once the new refinancing loan is granted, the funds from this loan will be used to repay the existing obligation.

What documents are needed to refinance a mortgage?

When transferring a loan to another bank, you need to prepare:

• The loan agreement from the previous bank.
• Documents confirming the current balance of the debt.
• Property-related documents, e.g., an excerpt from the land and mortgage register along with the property valuation.
• Proof of income.
• Bank account statements (e.g., for the last 3-6-12 months).

Costs of refinancing a mortgage

Refinancing costs can include:

• Cost of property valuation – banks vary in their charges for property valuation. Can vary from ~ 350 to 1200 PLN
• Early repayment fee – this may be charged for loans with variable interest rates signed a few years ago and being repaid before a specified time (specified in your contract), however in almost every case it’a round 0% from the day one, especially on fixed 5 years contracts.
• Fee for granting a refinancing loan – in every offer we have, there’s round 0% of entry fee / commission.
• Court fees – related to changes in entries in the land and mortgage register, what we usually help you with. The cost is about ~ 350 to 600 PLN to pay at once for administration fee + sworn translator fee.