When taking a long-term loan to purchase real estate, you must take into account the risks that during this time the premiums may increase significantly, the price and value of the property will decrease, as well as changes in the labor market that will lead to a decrease in income – warns the Office of Competition and Consumer Protection in a statement Journalist.
- High inflation brings us closer to raising interest rates
- UOKiK warns of increased mortgage loan payments
- The office also assessed that apartment prices are currently rising like never before, in Warsaw and other large cities
- He assures that this situation will not last forever
- More such information can be found on the home page of Onet.pl
Yukic noted on Wednesday that many people are considering buying an apartment with a loan due to the high property prices since the end of 2019. However, he cautioned against this. Over several decades of loan repayment, there may be significant fluctuations in interest rates that affect Amount of loan installments paidOr the increase or decrease in the prices or values of real estate. He also drew attention to changes in the labor market that may affect the borrower’s income.
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