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Posts by peterweg  

Joined: 16 Feb 2007 / Male ♂
Last Post: 19 Jun 2020
Threads: Total: 37 / In This Archive: 22
Posts: Total: 2305 / In This Archive: 1651
From: London, Battersea, Krakow.
Speaks Polish?: no
Interests: Motorbikes, Skiing

Displayed posts: 1673 / page 49 of 56
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peterweg   
12 Jul 2011
Real Estate / Cost of a flat refurbishment per sqm in Poland [18]

A very small bathroom and toilet cost 15k.

New kitchen 30K (Ikea) including complete floor + wall tiling and new electrics.

It obviously depends what you buy. 100-200pln per day for labour and it took one man less than two weeks for the kitchen (he was 200pln per day but was worth it).
peterweg   
10 Jul 2011
UK, Ireland / Is UK the new cradle of antipolonism? [161]

Well, I've lived most of my life in UK and never been treated in a Racist manner. Older people would occasionally praise the Poles for their bravery in the war, they were greatly admired.

I guess an American feel's he knows more about the subject having read about in on the internet. Ho hum.

Everyone is a little prejudice, people who aren't if you look at America for instance girls who will date 'anybody' are trash!! it's human nature to pick people who look similar to yourself(you can relate to) in looks and social status.

Thats sounds like the US is a racist society. From my experience that seems the case, less of a melting pot, more of a salad bowl, the races and social groups do not mix. Thats from an Black American who emigrated to the UK.

You know what? the UK is not like that.
peterweg   
8 Jul 2011
Real Estate / Foreign investor, properties in Poland, walk away from mortgages? [209]

warszawski:
Do a check on the internet and you will read stories of Brits being chased to the UK, for debts to their mortgage lender in Spain.

There is talk of it, but no actual evidence of it actually happening in practice. The stories just don't seem to add up.
peterweg   
8 Jul 2011
Real Estate / Foreign investor, properties in Poland, walk away from mortgages? [209]

Regrettably in Spain, on signing a mortgage, you will be held personally and unlimitedly responsible with all your assets both now and in the future if you default.

Not true anymore, the Spanish courts made a judgment a couple of weeks ago. The debt finishes with repossession, once its taken and sold its the end of the entire mortgage debt.

Edit: Its not so clear cut. I can't find the definitive answer

thespanishbrick.com/2011/legal-advice/i-cant-afford-to-pay-my-mortgage-any-more-what-can-i-do/2177

More precise details here:

morningstar.co.uk/uk/markets/newsfeeditem.aspx?id=148573656370079

The first of the amendments curtails the rights of creditors to attach
the wages of borrowers who default on their mortgage loans. Until now, a
creditor had been allowed (following a court decision) to garnish a
defaulting borrower's wages, but only those wages above 110% of the
national minimum wage (currently equivalent to 705 euro). The amendment
raises the floor to 150% (currently equivalent to 961 euro).

The second amendment raises the minimum percentage of the property value
at which a bank can repossess a mortgaged property if the foreclosure
process ends with no offers. Previously, if there had been no bidders at
the auction, a bank had the right to repossess a property at 50% of its
valuation. The new amendment increases this percentage to 60%, with the
resulting effects:

morningstar.co.uk/uk/markets/newsfeeditem.aspx?id=148573656370079

Its quite scary what they can do...
peterweg   
8 Jul 2011
UK, Ireland / Brits dislike freshwater fish? [11]

skate is a bottom feeder too, but folk eat it.

What you buy in shops is actually a type of Ray. Skate is protected species and they cannot call it that anymore.
peterweg   
8 Jul 2011
Real Estate / Foreign investor, properties in Poland, walk away from mortgages? [209]

Keep us updated on how it turns out.
BTW, other countries property forums can have good general advice. Spain for instance. Although in Spain there is a major difference - banks are not allowed to chase you for the debt over and above the repossessed property selling price. So once they repossess and sell the property, thats it. Nothing else is good about buying in Spain though, its as corrupt as hell.
peterweg   
8 Jul 2011
UK, Ireland / Brits dislike freshwater fish? [11]

Britain is surrounded by sea, why bother with freshwater fish? Having said that some types freshwater fish is eaten. Carp, though, is for petfood.
peterweg   
6 Jul 2011
Real Estate / Foreign investor, properties in Poland, walk away from mortgages? [209]

Leverage currency and property speculation, very risky.

You cannot buy shares on credit, never mind using a foreign currency. Its illegal due to the excessive risk. So why do people do it on Property?

Peterweg read what mglaze has posted, he purchased three properties in Poland as an investment in 2007/08. Now his real estate is under water, he wants to find a way to renege/default, leaving the problem with the lender. The only advice this man should be given is to contact his mortgage lender/bank and find a solution.

He's entitled to know the situation. I think its very unlikely he can walk away and his specific figures will tell him that. I don't need to.
peterweg   
6 Jul 2011
Real Estate / WOODEN HUNTERS TOWERS ON MY LAND in POLAND.....is it legal....? [59]

Hmm they shouldn't put it there without asking but on the other hand they probably didn't know It's private land. Call the local hunters and tell them to remove it (but then I think you lose rights to claim compensation for crops destroyed by wild animals or something...).

It might be better if a a polite chat takes place instead of getting to a war with the neighbors. My experience of country living is that there has to be a lot of give and take, favors passed about and payments made.

Alternative, Wildrover can use his city tactics and end up with his house burnt down.
peterweg   
6 Jul 2011
Real Estate / Foreign investor, properties in Poland, walk away from mortgages? [209]

Currently its costs quite a lot to pursue someone back to the UK, I heard £20k mentioned so if your debt/assets are less than that you maybe ok.

However, the EU is an free market for capital etc. so I expect them to introduce legislation making it easier to pursue debtors across the open borders. So in the next 10-20 years you could get a visit. And you are professional investor not a consumer so you will be treated more harshly, in principle.

You can go bankrupt in the UK. In Poland the debt would pass onto your children..
peterweg   
3 Jul 2011
News / Rostkowski's comment about Greece from people who will pay nothing [11]

remember that this would be a temporary currency.

There would be no chance of the Greeks ever re-entering the Euro. They only got in the first time by fabricating the figures. The country is completely unsuited for membership and probably will be for the next 30+ years
peterweg   
20 Jun 2011
Real Estate / Poland's apartment prices continue to fall [1844]

You all seem to know who Milky is, but I don't. Can you enlighten me?

Basically he's pointing out that Polish house prices are vastly over inflated compared to wages, which is true. He's fighting a losing battle against the predictable Vested Interest's who use the 'its different this time', 'special case', 'jealousy' arguments with a large dose of person insults to hide their fears/hopes.
peterweg   
17 Jun 2011
Real Estate / Poland's apartment prices continue to fall [1844]

Frankly, if you're looking to invest right now, keep your money in the bank: you can get 7% with no risk at all.

Its an excellent interest rate, UK savers should take note, and the Zloty looks strong.
peterweg   
17 Jun 2011
Law / How to register my UK motorcycle in Poland? [15]

Merged: Importing a Motorcycle to Poland. Tax and legal requirements?

I'm thinking of importing a motorbike to Poland (from the EU). Does anyone know the tax, legal requirements to do it?

Alternatively, could I insure a UK/German motorcycle here without registering it?

Triumph Sprint 1050, 2007 model, so not new.
peterweg   
13 Jun 2011
Food / Mayonnaise and ketchup in Poland [47]

I've read labels on Heinz Ketchup and Pudliszki Ketchup. Identical composition, no starch added (which is rare), similar taste, same production site. Probably only different labels ;)

I doubt it. Heinz are not going to share their product with some local company.

Heinz baked beans are made in Poland and sold in Careforre, if anyone is missing them
peterweg   
9 Jun 2011
Real Estate / Poland's apartment prices continue to fall [1844]

So you are saying Warsaw has the highest emigration to the west?
That's far from the truth.

Its not clear what he's saying. Krakow prices fell more than Warsaw

So what happened to the 60% price crash then?. You can't have it both ways Mark.

At that rate of descent it will take another five years.
peterweg   
31 May 2011
Real Estate / Poland's apartment prices continue to fall [1844]

Polish house prices fall

Polish banks will lend more than zł.50 billion this year to clients looking to purchase real estate, Rzeczpospolita reports. That's an increase over past years, even though the average price of homes was down across all major urban centers in Q1. Those drops were not insignificant, Jacek Furga, chairman of the Real Estate Finance Committee of the Polish Bank Association, told the newspaper. He estimates the average house price dropped by between zł.50 and zł.100 per square meter.

From Warsaw Business Journal

wbj.pl/article-54776-polish-house-prices-fall.html

Apartments in Poland cheaper than in 2010

According to recent data from real estate market researcher AMRON, the average cost of an apartment in Warsaw decreased by some zł.35,000 last year. In the first quarter of this year, the average price stood at zł.464,000, while in Q1 2010 it was zł.499,000.

In Kraków, this difference is even greater - the average transaction price dropped by more than zł.50,000 to reach zł.375,000.

"There are two main reasons behind this decline in average prices - lower apartment rates and a different structure of the market," Jerzy Ptaszyński, an analyst from AMRON, told Rzeczpospolita.

"To put it short, Poles are now buying smaller and cheaper apartments," he added.

Analysts predict that within the next year average prices will stabilize, with the possibility of a slight decline. If a decline were to happen, it should not, however, exceed five percent, they say.

wbj.pl/article-54807-apartments-in-poland-cheaper-than-in-2010.html?typ=pam
peterweg   
28 May 2011
Life / Moving to Poland - Checklist / Things to Consider [33]

The blood samples, DNA and complete life history from the womb to the present day are only necessary if you want to apply for a credit card or mobile phone contract.

I was given two credit cards without any effort, together with 30K credit, from my wife's bank. First one I had to show my passport, but that was it.
peterweg   
21 May 2011
USA, Canada / U.S. Citizen to Study in Poland on U.S. Passport for Over 3 Months? Problems? [46]

Actually, the problem is the opposite - with a Polish name, it'll be his obligation to prove that he isn't Polish - due to the specific offence of identifying yourself to the Polish authorities with foreign documents.

Isn't the main problem is its illegal to travel on foreign documents if you are Polish? So leaving Poland could be a problem if its attempted on a US passport..
peterweg   
20 May 2011
Off-Topic / Humiliated by landlord. Why women are so cruel? [27]

Who is she going to tell about not paying the rent? NOBODY will do anything to you. If she went to the police they will laugh at her. She won't even be able to goto court, its too small amount.

Dude kill her.

Well, if he does, you can share a cell with him for incitement.
peterweg   
5 May 2011
Love / Poland wow wife [52]

There is a place called Dent Head, in Yorkshire.
peterweg   
2 May 2011
Real Estate / Poland house prices recovered faster - Summary of 2010 [89]

Which explains why house prices now are far lower than they were in my grandfather's day.

Well that depend on how you value houses. Paper money is not a real asset is it?(which, apparently is why property can't be a Ponzi scheme because its based on real assets )

In real terms, this is the price of property in Gold

moneyweek.com/~/media/MoneyWeek/2010/100524/10-05-26-MM01.ashx?w=450&h=308&as=1