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The Warsaw Voice » Business » January 30, 2008
INVESTOR'S OBSTACLE COURSE
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Not Just for Renovations
January 30, 2008   
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PKO Bank Polski has a wealth of experience in providing banking services to customers in the real estate market, which includes those in housing cooperatives and homeowners' associations, developers, property administrators and real estate agents.

The bank's range of services is constantly adjusted to meet changing market conditions and diversified client needs. The bank provides services and products related to client financial services, including a wide selection of deposit options, provision of loans to finance current operations as well as for housing investment (Nowy Dom investment loan) and loans specially designed for housing cooperatives and homeowners' associations to fund renovations (Nasz Remont). Electronic banking is also part of this service.

In 2007 PKO Bank Polski extended its services to homeowners' associations to include a product and service package (Nasza Wspólnota, Nasza Mała Wspólnota and Nasza Wspólnota Premium). The current package for homeowners' associations is not only modern but also economical. An appropriate selection of services and banking products for each of the three packages offered by the bank gives customers the freedom to select one which best suits their association's needs.

There is also a Pakiet Zarządca (Administrator Package) specially for property administrators hired by homeowners' associations, which contains modern products and services suitable for the needs and expectations of this customer group.

The financing of home renovations is one of the most important needs of housing cooperatives and homeowners' associations. Being aware of these needs, PKO Bank Polski has prepared a package that guarantees funds for all types of renovations (loans: Nasz Remont, low-value Nasz Remont, and Nasz Remont with a thermal insulation modernization funding option from BGK bank). The loan to finance thermal insulation modernization works in buildings is repaid by the borrower with assistance from the government budget amounting to 25 percent of the loan used. A homeowners' association that takes out one of the above loans, within the first four years receives an additional 50-percent discount on the price of the package.

The Nowy Dom investor loan is the basic product for developers and other entities building housing accommodation for sale or for rent. It is a modern and flexible product that can be easily adapted to client needs. It may be used to finance land purchase or housing construction. In addition, Nowy Dom terms and conditions are very transparent, regarding both the requirements and costs for the borrower.

Details of services for clients in the housing market are available at all branches of PKO Bank Polski, on the www.pkobp.pl website and on information line 0-801 302-302 (cost of a local call).
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