magdalenaG
24 Dec 2009
Real Estate / Taking loans in Poland underneath someone else [7]
FFS , you can't even get a loan these days even if you have an income !
FFS , you can't even get a loan these days even if you have an income !
magdalenaG
16 Dec 2009
Real Estate / Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]
This really highlights the level of your ignorance with regard to the Polish real estate market & the Polish banking sector .
If this means nothing to you, allow me to simplify it for you . YOU ARE AN IDIOT.
Banks will always lend money, its the nature of their business, using the word flat means nothing to me.
This really highlights the level of your ignorance with regard to the Polish real estate market & the Polish banking sector .
If this means nothing to you, allow me to simplify it for you . YOU ARE AN IDIOT.
magdalenaG
15 Dec 2009
Real Estate / Prices of apartments in Krakow are collapsing further down in 2010-2011 [150]
For what it's worth , my predictions for 2010 are :
PLN Euro will go sub 4
PLN CHF will come back to 2.50
Prices in Warsaw will be + 10%
Rent in Warsaw will be flat.
Prices across all other regions will be flat .
Banks will start lending again !
( Just have to remember to check back in 12 months time to see how right I am )
For what it's worth , my predictions for 2010 are :
PLN Euro will go sub 4
PLN CHF will come back to 2.50
Prices in Warsaw will be + 10%
Rent in Warsaw will be flat.
Prices across all other regions will be flat .
Banks will start lending again !
( Just have to remember to check back in 12 months time to see how right I am )
magdalenaG
14 Dec 2009
Real Estate / Mortgage default rates in Poland [10]
it's normal for a bank to insist on you signing a bill of exchange when taking out a mortgage . this bill of exchange gives them recourse to all your personal assets & is enforceable through the courts.
Magda G.
it's normal for a bank to insist on you signing a bill of exchange when taking out a mortgage . this bill of exchange gives them recourse to all your personal assets & is enforceable through the courts.
Magda G.
magdalenaG
15 Sep 2009
Life / Scammed in Poland again [49]
What about Mossie Keane ( Roy Keane's dad ) who used to turn up on a daily basis at funerals just for the free sandwiches !!
The real scumbag scam is those lower than life scammers who look in the obituary for a funeral.
So they know when you're out of the house because you are going to pay your respects to a dead family member or friend.
So they know when you're out of the house because you are going to pay your respects to a dead family member or friend.
What about Mossie Keane ( Roy Keane's dad ) who used to turn up on a daily basis at funerals just for the free sandwiches !!
magdalenaG
4 Sep 2009
Life / What to bring, ship, pack for our move to Warsaw [67]
It only takes one to disrupt a whole class.., put two of them together & you have absolute chaos ( & I'm speaking from experience .)
That's not exactly true, there can't be more than 25% of any one nationality (other than US) in any one year group!
It only takes one to disrupt a whole class.., put two of them together & you have absolute chaos ( & I'm speaking from experience .)
magdalenaG
4 Sep 2009
Life / What to bring, ship, pack for our move to Warsaw [67]
My kids have been in the British School for 5 years now . The standard of teaching is hit & miss depending on which teacher you get & their level of experience ( & I found that it also depends on how long the teacher has been in Poland, with the new ones hardly being able to cope with the culture shock themselves let alone manage a class of 20 kids ) .
What I would say is that the British School kidergarten/pre nursery which is on the smaller Dabrowskiego site ( in Mokotow when considering housing ) is a well run school with a warm & friendly atmosphere . Both of my kids loved it there .
When I first arrived in Warsaw I also had the school dilemma & gave serious consideration to the American School . I eventually decided on the Brtish School as it was smaller & I felt less intimidating for my kids .
( The American school also has a lot of super rich & super spoilt Polish kids who attend , making it difficult for 'normal' kids to fit in.) ( Traffic in & out of konstancin is also hell.)
Lastly,I do know of some parents who have moved their kids from the British school to the American school ... I don't know of anybody who has moved from american to British ...
One word of warning though, both schools are difficult enough to get your kids into , so the sooner you make contact & get on a waiting list the better.
By the way , fees in the British School are PLN 55k per year ( similar in American School ) .
My kids have been in the British School for 5 years now . The standard of teaching is hit & miss depending on which teacher you get & their level of experience ( & I found that it also depends on how long the teacher has been in Poland, with the new ones hardly being able to cope with the culture shock themselves let alone manage a class of 20 kids ) .
What I would say is that the British School kidergarten/pre nursery which is on the smaller Dabrowskiego site ( in Mokotow when considering housing ) is a well run school with a warm & friendly atmosphere . Both of my kids loved it there .
When I first arrived in Warsaw I also had the school dilemma & gave serious consideration to the American School . I eventually decided on the Brtish School as it was smaller & I felt less intimidating for my kids .
( The American school also has a lot of super rich & super spoilt Polish kids who attend , making it difficult for 'normal' kids to fit in.) ( Traffic in & out of konstancin is also hell.)
Lastly,I do know of some parents who have moved their kids from the British school to the American school ... I don't know of anybody who has moved from american to British ...
One word of warning though, both schools are difficult enough to get your kids into , so the sooner you make contact & get on a waiting list the better.
By the way , fees in the British School are PLN 55k per year ( similar in American School ) .
magdalenaG
3 Sep 2009
Life / What to bring, ship, pack for our move to Warsaw [67]
Nowolipki by any chance ??
Certainly will. There are three places that do excellent pizza in Warsaw. My current favourite has a wood-fired oven, which makes sitting outside and getting faint wafts of wood smoke very enjoyable
Nowolipki by any chance ??
magdalenaG
20 Aug 2009
Real Estate / Renting flats in Poland [13]
yep, the same people who could neither pronounce it or had any idea where it actually was .. the armchair investor is officially dead & buried.
yep, the same people who could neither pronounce it or had any idea where it actually was .. the armchair investor is officially dead & buried.
magdalenaG
20 Aug 2009
Real Estate / Renting flats in Poland [13]
the boys are certainly being sorted out from the men in the current market...
the boys are certainly being sorted out from the men in the current market...
magdalenaG
30 Jul 2009
Real Estate / Polish Mortgage for a Foreigner [16]
Margins will likely increase to c. 5% with all lenders ( due to current liquidity/funding issues )
Banks are also currently paying 6%-7% for deposit money versus a 2% margin on average that they are taking on borrowings. This cannot be sustained . ( personal loans @ 10% are profitable, mortgages @ 6% aren't )
Therefore , margins need to increase & you are also likely to see arrangement fees in the region of 4% soon.
This will all lead to reduced repayment capacity for local borrowers so less people will qualify for mortgages , until a) there is significant wage growth b) banks start lending again in FX ( 3mth base rate in Euro is 0.87% , CHF 0.36% compared to 4.17% in PLN ) or c) Banks lending criteria ease & they increase the LTV available back to realistic levels , ie 90% for owner occupier.
My crystal balls says give it 12 months ..at least.
Margins will likely increase to c. 5% with all lenders ( due to current liquidity/funding issues )
Banks are also currently paying 6%-7% for deposit money versus a 2% margin on average that they are taking on borrowings. This cannot be sustained . ( personal loans @ 10% are profitable, mortgages @ 6% aren't )
Therefore , margins need to increase & you are also likely to see arrangement fees in the region of 4% soon.
This will all lead to reduced repayment capacity for local borrowers so less people will qualify for mortgages , until a) there is significant wage growth b) banks start lending again in FX ( 3mth base rate in Euro is 0.87% , CHF 0.36% compared to 4.17% in PLN ) or c) Banks lending criteria ease & they increase the LTV available back to realistic levels , ie 90% for owner occupier.
My crystal balls says give it 12 months ..at least.
magdalenaG
30 Jul 2009
Real Estate / Polish Mortgage for a Foreigner [16]
The WIBOR 3 month ( which most banks use ) is 4.16% today , which therefore means that the bank is taking a 2.84% margin ( this is not excessive for an investment mortgage ) . Liquidity & cost of funds is the main problem in the market at the minute & my advice to you would be that if you have an offer of 7% on the table , then you should take it ( before the margins increase again , which they are very likely to do in the short term) .
As for mortgages in CHF/Euro/GBP/USD... as far as I know they are not available from any lenders at the moment , the only game in town is PLN for now.
My crystal ball is working well by the way... things are only going to get worse!
I've just had a quote for a Polish mortgage with an interest rate of 7%. I've seen that the Polish Central Bank has set rates at 3.5%.
The WIBOR 3 month ( which most banks use ) is 4.16% today , which therefore means that the bank is taking a 2.84% margin ( this is not excessive for an investment mortgage ) . Liquidity & cost of funds is the main problem in the market at the minute & my advice to you would be that if you have an offer of 7% on the table , then you should take it ( before the margins increase again , which they are very likely to do in the short term) .
As for mortgages in CHF/Euro/GBP/USD... as far as I know they are not available from any lenders at the moment , the only game in town is PLN for now.
My crystal ball is working well by the way... things are only going to get worse!
magdalenaG
23 Jul 2009
Life / Car Documents - what to do if you lose them? [17]
Panic over , found them .
But at least I'll know what to do next time I lose them .
Panic over , found them .
But at least I'll know what to do next time I lose them .
magdalenaG
23 Jul 2009
Life / Car Documents - what to do if you lose them? [17]
Thanks Sean,I figured it would entail a trip to the police .. all a pain in the arse really.
Thanks Sean,I figured it would entail a trip to the police .. all a pain in the arse really.
magdalenaG
23 Jul 2009
Life / Car Documents - what to do if you lose them? [17]
Has anyone every lost their car doc's....what are you supposed to do ?
Has anyone every lost their car doc's....what are you supposed to do ?
magdalenaG
22 Jul 2009
News / Riots in Warsaw KDT 21 July 2009 [18]
Agreed. I was there too, nothing much to it.
Having actually been there, it wasn't nasty. Certainly wasn't as bad as earlier this year when the shipyard workers were in town and nothing like the same scale as it is during the miners' visits.
Agreed. I was there too, nothing much to it.
magdalenaG
21 Jul 2009
UK, Ireland / Irish Primary schools to teach Polish [223]
Get over it & move on...I'm as Irish as they come.
& for the record RN , yes I do teach my children Irish.
There is more inconsistency here, namely Magdalena is a female name while our poster seem to be a male
Get over it & move on...I'm as Irish as they come.
& for the record RN , yes I do teach my children Irish.
magdalenaG
20 Jul 2009
News / FEINSTEIN NEW us AMBASSADOR TO POLAND [47]
Try googling Victor Ashe ( outgoing ambo) & you'll see what a 'colourful ' character he is ...
Try googling Victor Ashe ( outgoing ambo) & you'll see what a 'colourful ' character he is ...
magdalenaG
19 Jul 2009
Real Estate / Selling in poland, how do i get money to USA paying little or no taxes? [8]
You must hold property for five full tax years in order to avoid paying CGT or sales tax as it was up until end 2006.
Alternative is to register the property as your family home ( you can still rent it out) & by doing this you only need to hold it for 1 year in order to avoid paying CGT .
It all depends how many years you have owned this home. After five years (I think) there is very little (if any) tax to pay - someone may correct me on this.
You must hold property for five full tax years in order to avoid paying CGT or sales tax as it was up until end 2006.
Alternative is to register the property as your family home ( you can still rent it out) & by doing this you only need to hold it for 1 year in order to avoid paying CGT .
magdalenaG
17 Jul 2009
UK, Ireland / Irish Primary schools to teach Polish [223]
Anonymity is very important in my line of work. Don't be fooled by my pokerstars pseudonym.
Anonymity is very important in my line of work. Don't be fooled by my pokerstars pseudonym.
magdalenaG
17 Jul 2009
UK, Ireland / Irish Primary schools to teach Polish [223]
Lots of food for thought in this thread ....
I'm Irish , my wife is Irish , my kids are Irish, I live in Poland.
My children learn Polish in school .
As far as I'm concerned this is one of the major benefits of having spent time in Poland & when I return to Ireland I would be only too happy for them to continue their study of Polish as I have no doubt that it will be of great relevance & importance to them in the future.
Lots of food for thought in this thread ....
I'm Irish , my wife is Irish , my kids are Irish, I live in Poland.
My children learn Polish in school .
As far as I'm concerned this is one of the major benefits of having spent time in Poland & when I return to Ireland I would be only too happy for them to continue their study of Polish as I have no doubt that it will be of great relevance & importance to them in the future.
magdalenaG
16 Jul 2009
News / POLAND'S CREDIT CRAZE [34]
You should google him & listen to his conspiracy theories on 9/11 ... ( the sisters have driven him crazy I'd say )
You should google him & listen to his conspiracy theories on 9/11 ... ( the sisters have driven him crazy I'd say )
magdalenaG
13 Jul 2009
Life / "Londyńczycy" - TVP's production about Polish immigrants in UK. [11]
heard the producer/director & some randomers from the cast all got arrested in London last week... they got pissed & then arrested ... so funny!!
heard the producer/director & some randomers from the cast all got arrested in London last week... they got pissed & then arrested ... so funny!!
magdalenaG
13 Jul 2009
magdalenaG
2 Jul 2009
magdalenaG
22 Jun 2009
Life / What's the weather like in Poland? [81]
It's like bloody october in warsaw today ... with heavy rain forcast for the rest of the week...great.
It's like bloody october in warsaw today ... with heavy rain forcast for the rest of the week...great.
magdalenaG
17 Jun 2009
Real Estate / Cancelling Tenancy Agreement Before End Of Contract Query [10]
This does not apply unless you've registered the property as your permanent address ... you probably haven't.
Irrespective of this , you now find yourself in a very uncomfortable situation.
Your landlord seems quite unreasonable but nonetheless you need to talk to him again & try to resolve the issue ( he may have calmed down by now & be more open to discussion ) as the prospect of a couple of heavies calling to your door is not a nice one .
The utilities are also probably still in the landlords name so he could in theory have them cut off .
Do not allow the situation to fester , talk to the landlord again & see if you can resolve it .
He absolutely CANNOT throw you out onto the street if you have nowhere else to go - it's illegal
This does not apply unless you've registered the property as your permanent address ... you probably haven't.
Irrespective of this , you now find yourself in a very uncomfortable situation.
Your landlord seems quite unreasonable but nonetheless you need to talk to him again & try to resolve the issue ( he may have calmed down by now & be more open to discussion ) as the prospect of a couple of heavies calling to your door is not a nice one .
The utilities are also probably still in the landlords name so he could in theory have them cut off .
Do not allow the situation to fester , talk to the landlord again & see if you can resolve it .
magdalenaG
16 Jun 2009
Life / Why do a lot of Polish people stare and why is good personal hygeine shunned? [108]
Dear Seanus,
1. There is nothing in the forum rules that state that ones username should reflect one's gender.
2. Now that we're jumping to conclusions ...Seanus .. sounds like anus ...therefore you must be an arse.
3. Your comment is a bit rich coming from someone with the picture of a sheep on his profile .. but then I guess it can get a bit lonely in Gliwice...
4. I recommend you brush up on your Johnny Cash...( this may be a bit too cryptic for you ..maybe ask somebody to help you with it ..)
Dear Seanus,
1. There is nothing in the forum rules that state that ones username should reflect one's gender.
2. Now that we're jumping to conclusions ...Seanus .. sounds like anus ...therefore you must be an arse.
3. Your comment is a bit rich coming from someone with the picture of a sheep on his profile .. but then I guess it can get a bit lonely in Gliwice...
4. I recommend you brush up on your Johnny Cash...( this may be a bit too cryptic for you ..maybe ask somebody to help you with it ..)
magdalenaG
16 Jun 2009
Life / 1st ex-pat assignment advice needed about settling down in Warsaw. [16]
Just do my best to help...thank you very much !
In relation to Sky TV ,you can actually get Sky from a company called Sky Satellite services who are based in Warsaw. They supply sky box, dish & installation. Thy are very reliable & english speaking also . It is also possible to pay them monthly by direct debit charged to your credit card. ( still can't get BBC,ITV without the 2m dish though... try justin.tv ( free streaming site ) for any sporting events that BBC/ITV cover that Sky don't & then there are plenty of websites that you can download all the usual Sat. night BBC bubblegum for the brain light entertainment shows.)
You'll have lots of questions, for sure (ok I am getting that from my students, napewno!) but searching the topics here will help you, there's lots of very helpful people and lots of advice from people who know a lot more than me (including the wonderful MagdalenaG :) ).
Just do my best to help...thank you very much !
In relation to Sky TV ,you can actually get Sky from a company called Sky Satellite services who are based in Warsaw. They supply sky box, dish & installation. Thy are very reliable & english speaking also . It is also possible to pay them monthly by direct debit charged to your credit card. ( still can't get BBC,ITV without the 2m dish though... try justin.tv ( free streaming site ) for any sporting events that BBC/ITV cover that Sky don't & then there are plenty of websites that you can download all the usual Sat. night BBC bubblegum for the brain light entertainment shows.)
magdalenaG
11 Jun 2009
Life / Why do a lot of Polish people stare and why is good personal hygeine shunned? [108]
With all due respect , your over reaction is frightening & you come across as very insecure.
I suggest that you go in search of some anger management courses before it all boils over for you .
YOU are a ridulous thing.
With all due respect , your over reaction is frightening & you come across as very insecure.
I suggest that you go in search of some anger management courses before it all boils over for you .