Poland Shifts Mortgage Benchmark from WIBOR to POLSTR by End of 2026
Banks must stop issuing new WIBOR-linked mortgages by December 31, 2026, switching to the new POLSTR benchmark. Existing WIBOR mortgages remain valid until 2036, but new applicants should expect rate quotes on the successor index.
Poland's financial regulator (KNF) and GPW Benchmark jointly finalized the wind-down timeline for WIBOR (Warsaw Interbank Offered Rate) in May 2026, marking a formal end to more than a decade of reliance on the benchmark for variable-rate mortgages. Beginning January 1, 2027, all new mortgage applications in Poland will be quoted using POLSTR (Polish Short Term Rate), the EU-compliant successor rate selected by Poland's National Working Group on benchmark reform.
WIBOR has been the standard reference for floating-rate home loans since the early 2000s, but its sharp spike from 0.25% in January 2021 to 7.43% in July 2022 sparked widespread borrower complaints and legal challenges. The transition to POLSTR, which has been published by GPW Benchmark since June 2, 2025, aims to provide a more transparent and robust reference rate aligned with EU standards.
Key dates and details:
- Banks must cease writing new WIBOR-linked contracts by December 31, 2026
- POLSTR becomes the default benchmark for mortgages from January 1, 2027 onward
- Existing WIBOR mortgages remain unaffected until December 31, 2036
- Final wind-down of WIBOR publication occurs January 1, 2037
Currently, mortgage rates in Poland hover around 7.2–7.8% (WIBOR 3M ~5.7%), though rate cuts are anticipated in the second half of 2026. Fixed-rate mortgages at 7.0–7.5% are also available as an alternative to floating-rate products.
What this means for expats
If you have an existing WIBOR-based mortgage, your contract remains valid and unchanged until 2036—no immediate action is needed. However, if you are applying for a mortgage in late 2026 or early 2027, expect your bank to quote POLSTR rather than WIBOR. Review your offer letter carefully to understand the exact index, margin (spread), and repricing frequency—these vary by lender. Borrowers with variable-rate mortgages expiring soon may want to lock in a fixed rate before the benchmark switch, depending on your risk tolerance and rate expectations.
Sources
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