Speaker
Description
Comparing Poland to other EU countries (especially Western European countries), it can be seen that the Polish mortgage market still has a huge potential. This is indicated by the share of mortgages in GDP, the percentage of households burdened with a mortgage, and finally the level of household burden with a mortgage. The Polish mortgage market is highly concentrated, because only 5 banks are responsible for almost 80% of new loan sales. At the same time, almost 70% of their sales are carried out through intermediaries. As 2023 has shown, the pace of development of this market depends on the introduction of government programs supporting young people in purchasing their first apartment. The digitalization of mortgage processes is therefore an expected and inevitable direction of development of banking processes. The aim of the article is to show the growing importance of digitalization in the process of granting mortgage loans and the procedure itself - its advantages and disadvantages. The article is of an illustrative and opinion-forming nature.
