ING Bank Śląski gives up WIRON in mortgages

Luc Williams

Credit changes

From Monday, you will not be able to get a mortgage loan with a variable rate from ING Bank Śląski. Mortgages will still be available, but only at periodically fixed rates. This means withdrawing from offering mortgages with interest rates dependent on the WIRON rate. Śląski was the only large bank with this type of offer. In the first quarter of this year, it granted this type of mortgages worth more than PLN 1 billion.

– Customers who receive an information form with a variable-rate loan offer by June 24 may apply for such a loan on the form’s validity date, but no later than July 7 – says Piotr Utrata, spokesman for ING BSK.

Leaving WIRON

WIRON this is the rate which, as part of the so-called benchmark reform was intended to replace WIBOR. Recently, the National Working Group working on the reform decided that the “successor to WIBOR” should be selected anew. WIRON was hampered by high volatility in some periods, as well as problems with the data used to calculate the rate.

Fixed mortgage interest rates at ING BSK concerns a five-year period. After its completion, either the fixed rate is recalculated or the variable rate is switched to. And this is where it starts to get interesting. Reason? For now, the new loans will refer to WIRON, but – according to DGP information – within a few weeks the bank will switch to… WIBOR.

In accordance with the current “road map” for the reform of indicators WIBOR should be replaced by a new pointer. How will the bank deal with this? – In contracts with clients, we have a clause that “the bank may use the value of an alternative indicator indicated in the law, indicated in the contract or an indicator designated by the administrator” – points out Piotr Utrata.

Recently, ING BSK suspended offering loans with a rate WIRON corporate clients.


Luc's expertise lies in assisting students from a myriad of disciplines to refine and enhance their thesis work with clarity and impact. His methodical approach and the knack for simplifying complex information make him an invaluable ally for any thesis writer.