Santander Bank Polska will introduce mortgage loans based on the WIRON reference rate in November, the bank’s board member and chief economist Maciej Reluga announced.
“Offering new products in new sales on the new reference rate will be in line with the roadmap. The first such product will be mortgages, and this will take place in November,” Reluga said during a conference call.
“Then we will gradually add more products on this reference rate so that the full offering on this rate will be in mid-2024,” he said.
According to him, the difference in the price of a loan based on the WIRON rate from those based on WIBOR “will not be significant.”
According to the so-called roadmap developed by the National Working Group (NGR; it deals with the reform of reference rates), WIBOR and WIBID rates will cease to be published in 2025. According to the document, the conversion of WIBOR to WIRON in existing contracts is to take place in 2024.
Source: Santander Bank Polska and ISBnews
