The creditworthiness of a statistical Pole has decreased by 30% in the last four months, and in the near future this decline may even deepen to 45% compared to the previous year, according to data from the Credit Information Bureau (BIK).
Only in January this year. the number of mortgage applications fell by a quarter compared to January 2021. Compared to the record-breaking March 2021, the decline is already over 50%.
Interest rate increases are a cause for concern for 64% of borrowers. Three-quarters of Poles who have a housing loan hope that the monthly installment of their loan will increase by no more than PLN 300, according to BIK data.
“When the increase in net income of households is small or in the event of a decrease in net income, the creditworthiness of Poles may soon be in a downward trend. If the income does not compensate for the growing costs of credit, a pessimistic scenario of a decline in creditworthiness by up to 45% can be assumed,” said Waldemar Rogowski, Chief analyst of the Credit Information Bureau.
Source: BIK and ISBnews
