Real Estate / Preliminary Contract - Purchase of Apartment [26]

Thank you all for your advice.

inKrakow, you mentioned that one should make sure that the apartment has a registry entry. Why is it so important? What could happen if I bought a place that does not have a registry entry? Also, when talking about charges that the spółdzielnia sets do you mean the czynsz?

Also, does the notary have a pre-drafted standard contract? Is there opportunity to discuss/add any clauses to the contract? Does the notary explain what each clause means and what are the consequences?

Law / Bank papers translated from English to Polish by a sworn translator? [6]

Thanks for your answers. I just need the translated documents to be sent to an address in Poland, Warsaw would be great. Yes please Harry, I would really appreciate if you could send me the details of the translator you use.

Real Estate / Is it possible to take out a mortgage/loan and buy a property in Poland whilst living abroad? [10]

Yes, I'll try to contact some banks today. I hope I will not have problems communicating in English.

Yesterday, together with my fiancé, we contacted MBank. I am going to write down the answers to some of the questions I had for any future readers who have the same queries as me.

1. Can we take a home loan while living a working abroad?
Yes, it shouldn't be a problem. We need to have been working for longer than 6 months, have proof of income and have an indefinite contract.

2. Do we need to chose the house before we take the loan or after?
You can do it both ways. If you take the loan before hand, you have to present to the bank a property or land as collateral for the loan. The value of the property has to be equal or bigger than the amount of the loan. If not, you will need to chose the property and then apply for a loan.

3. Do we need to be married to take a loan as a couple?
No

4. Will there be any problems in obtaining a loan as I am a foreigner however an EU-national?
She mentioned three alternatives, but almost all of them pointed to the fact that either I am a polish resident or else I am registered in some town in Poland,

5. How much can we borrow?
She provided a simulation according to our income and any credit that we might have. Personal note - Polish banks tend to offer more credit than the ones in my country, so don't get carried away and be sure that you will be comfortable paying back the loan.

6. Can the loan process be done online?
We need to fill an application and send the required details and documents by e-mail or mail. A decision will be given after 9 days. We need to be physically there just to sign the papers when we are granted the loan.

The monthly repayment that this bank offered seemed to be a bit steep so we are going to continue shopping around to get the feel of other interest rates.

Side note: English speaking representatives are only available between 8:00 and 16:00.

Real Estate / Negotiating a Mortgage for a new apartment in Poland [7]

Gzegorz, wonderful explanation, it answered a lot of questions I had re mortgages in Poland.

If I may ask another question re obtaining a mortgage in Poland; me and my fiancé are planning to purchase an apartment in Poland later on this year, as we are moving back to Poland. My partner is Polish and has had a bank account in Poland for all of his adult life. I have read in several places that we need to work for around 3 years before we are accepted for a home loan. Is this true? We intend to obtain jobs before applying for a mortgage however I don't know if we will be able to take the loan immediately or have to wait for some period of time.

With regards to deposit, do Polish banks require that you have saved a certain percentage of the total value of the loan?

Thanks!

Real Estate / Looking to buy property in Poland - understanding the different types of ownership! [10]

So both ways of ownership means I have full ownership of the apartment? Does being a part of the housing association mean that I need to pay something more per month? I know that when you own a flat you need to pay every month some administration fee...do you need to pay the administration fee in both types of ownership or only in the second one?

By the way, thanks for your advice. I intend to find a lawyer once we commit to buy as both me and my fiancé are not familiar with the legal procedures involved.

Work / Living in Katowice (programmer, 3000 PLN) - is it enough? [65]

I tend to disagree that 3000 PLN is not enough to pass by in Warsaw.

Me and my partner lived for one year with 2500 PLN per month. We rented a room in Powisle and shopped at Carrefour and Biedronka. We used to go out for drinks twice a month. We has a regular subscription with a nearby pool. We used to shop for clothes at Factory in Ursus. We always had money to buy pharmaceutics and to go to the doctor. We were also able to go on a holiday twice in that year.

We were always comfortable, however, with 1000 PLN more every month I think we would have been able to move to a studio flat, and maybe indulge ourselves in more costly food. K

I know students who manage to get by with 1000 PLN per month, so I think 3000 PLN is quite enough for one person.