2026 is a transition year for mortgage reference rates in Poland. According to information from Polish supervisory authorities, new contracts referencing WIBID or WIBOR should not be concluded after 31 December 2026. From 1 January 2027, these benchmarks are intended mainly for legacy exposures during the wind-down period, while POLSTR is being introduced for new contracts.
For a homebuyer, this makes the wording of the mortgage offer and draft agreement especially important. For an existing borrower, it is a reason to collect the loan documents, review how the interest rate is updated and compare refinancing options without assuming that a new loan will automatically be cheaper.
What to check before signing a new mortgage
- Reference rate: identify the benchmark named in the agreement and check whether the document explains its role during the reform.
- Bank margin: separate the bank’s margin from the variable part of the interest rate. The advertised rate does not show the complete adjustment mechanism.
- Adjustment rules: check how often the rate may change, which data source the bank uses and when a new value affects the instalment.
- Loan term: the planned term forms part of the affordability assessment and should be reviewed together with the monthly instalment.
- Additional conditions: ask the bank to set out all requirements clearly so that competing offers can be compared on a consistent basis.
The Polish Financial Supervision Authority says that affordability assessments should consider the amount and stability of repayment income, typical household living costs, all existing financial obligations and the planned loan term. In practice, ask the bank how these elements were calculated rather than relying only on the advertised interest rate.
What to check when refinancing an existing loan
Start by collecting the current agreement, amendments, repayment schedule and information about the outstanding balance. Then establish whether the proposal changes the existing contract or involves an entirely new mortgage. The rules for replacing WIBOR in the existing PLN product and the way the bank communicates changes to the borrower also matter.
The recommendation adopted by the National Working Group on 12 May 2026 covers both interest-rate setting for new agreements and the replacement of WIBOR in existing Polish-zloty contracts. This does not mean that every refinancing offer will have the same terms. Compare the margin, rate-setting method, repayment period and all costs connected with the new agreement.
How to read market conditions
The National Bank of Poland’s senior loan officer survey reported that banks eased housing-loan standards in the fourth quarter of 2025, including through lower credit margins. For the first quarter of 2026, banks expected broadly unchanged standards and stronger demand for housing loans. These findings describe reported banking conditions and do not guarantee a specific offer for an individual borrower.
People planning a purchase can also review houses for sale in Poland, but the property decision should be kept separate from the benchmark decision. First confirm that the instalment is acceptable under the contractual rules, then assess the location and condition of the house.
A practical decision checklist
- Request the draft agreement and interest-rate table before signing.
- Check whether the bank explains the use of POLSTR or the replacement of the existing benchmark.
- Compare margin, repayment schedule, loan term and all borrower obligations.
- Build the budget using realistic income, household costs and existing commitments.
- When refinancing, compare the complete set of terms rather than only the initial instalment.
You can also review the current supply of houses on the Polish market. The important sequence is to understand the rate and affordability rules first, and only then assess a specific property.
Disclaimer: Information about mortgages and benchmark reform is general in nature and is not legal, financial or credit advice. Before signing, discuss the agreement with the bank or an independent adviser.