Polish mortgage demand rose 17.2% in September, but part of it is refinancing, not home buying

The value of mortgage queries in Poland was 17.2% higher in September 2026 than a year earlier, according to the BIK credit bureau's demand index published on 12 October. The number of applicants rose 9.7%, and the average requested loan was PLN 522,400. BIK says refinancing of existing loans is an important driver.

The figures fit together: 9.7% more applicants asking for 6.9% more each gives roughly 17% more in total value (EstateScope calculation). Compared with August, applicants rose 10.1% after the holidays, while the average amount was almost unchanged.

Applications are not purchases

The index counts loan applications reported by banks and credit unions, not loans granted or homes bought. BIK's chief analyst Waldemar Rogowski says demand does not come only from planned purchases: borrowers are also refinancing to cut repayments as rates change and banks compete. BIK does not publish the refinancing share. It expects growth in applicants to slow in the coming months, mainly because of a high 2025 base (BIK).

What to check

• Existing borrowers: compare the full cost of a new offer (APR, or RRSO), the length of any fixed-rate period, the new bank's fees and any early-repayment charge on your current loan, not only the margin.
• Buyers using a mortgage: more applicants can mean more competition for well-priced flats. Get a credit decision before making an offer, and check comparable completed sales rather than asking prices.
• Rates: the NBP kept its reference rate at 3.75% in October (our report). Rising demand alone is not a sign that rates or prices will move.

Limitations

BIK's data are preliminary and do not split purchase and refinancing applications. It measures interest in credit, not the volume of new lending.