Interest Rates for Home loans In poland

Hi Daniel

Could you please clarify what you've just said regarding refinancing a property in Poland, i.e. Could you please make no assumptions that some things are self evident.

I know u r not a native english speaker but better structuring your posts could help getting you customers.

Example: Ive got a property financed thru Dombank. Its value rose substantially, how can I remortgage the property to release cash, and what are the available offers ?

Thanks

PJ.

i will try to not make mistakes :)

if you send me some details:
current value of the property
amount of loan/term/interest rate/ monthly installment and i will be able to check how much you can release

This thread hasn't been updated since the credit crisis.

Are foreign currency loans still available in Poland? Or is the better question are ANY mortgage loans still available in Poland?

What are the current interest rates in PLN, DOLLARS, EUROS???

Yes, foreign currency loans are still available in Poland. In general the margins charged by the banks are higher than for PLN loans.

The offer for non-residents (and foreigners) who want to get a mortgage in Poland is much more restricted, but there are still a handful of banks who will grant such mortgages.

Current interest rates:

PLN 4.6% (Wibor 3m) + margin 1.5-2.5%
EUR 1.91% (Libor 3m) + margin 2-3%
USD 1.24% (Libor 3m) + margin 2-3%
GBP 2.06% (Libor 3m) + margin 2-3%
CHF 0,49% (Libor 3m) + margin 2.5-5%

If you believe the zloty has been oversold, then it could be a good time to be taking out a foreign currency mortgage in Poland. Obviously, such a strategy is more risky, as the events of the past six months have demonstrated.

If you are interested in being referred to Polish banks that can potentially get you a mortgage in Poland (as a non-resident or foreigner) please visit my website.

In Korean Peoples Democratic Republic all homes provided by the Dear Leader, no need for usury and greedy foreign capitalist banks. Visit Pyongyang and see the wave of the future.

By the time I could get an entry visa, I'd probably be dead. So I'll pass on that for now;)

Andy B,
Thanks for the updated information on the interest rates.
Just a quick question...In relation to the EUR Libor, would it be better to be on the 3m libor rate or a 6 month libor rate? And do you know if banks would offer both options.

The reason why i ask is that i am on a 6m libor rate and it seems quite high. I know the rates have come down a fair bit over the past number of months so will be expecting a nice reduction in the next 6 months.

Very good stuff. You guys keep adding all these new features.

3 or 6 (3M, 6M, 12M) figure is telling you how the bank is calculating the LIBOR rate. if you have 3M it means that it is an average for the last 3 months. the shorter Libor the better for the customer.

Andy B can you please provide also information what is the LTV and the term of the loan. It is quite important information in these days.

the maximum LTV is 80% or 70%. Also it depands when you work and live
Also as you are aware there is a different offer for self employed. I assume that the conditions in your post are for the full-time basis. am I right?