Posts by NewFlatBuyer

NewFlatBuyer

25 Sep 2018

Law / Inheritance tax - from UK to Poland [8]

Thanks delphiandomine - I suspect you're correct, having never formally owned the property, I also think (hope) that won't be an issue. And I agree, getting professional advice is the best way to go. However, until I can do that, I'm just hoping to pick the brains of people on this forum, in case I can get any idea of what to expect (or not expect) - with that in mind, any knowledge/experience that people can share on the subject is greatly appreciated.

NewFlatBuyer

25 Sep 2018

Law / Inheritance tax - from UK to Poland [8]

Thanks for the information, Terri. The inheritance does include a property; however, that property will be sold (through the executors). Any inheritance I receive will only be cash - as far as I'm aware, I won't technically be the (part) owner of the property. I'm not sure if that makes a difference, but from what I can see, it might.

NewFlatBuyer

25 Sep 2018

Law / Inheritance tax - from UK to Poland [8]

Hi All,

I have a quick question about inheritance tax that I'm sure isn't too uncommon, but can't seem to find any answers on these forums (or generally online), so thought I'd start my own thread (apologies if it's been answered elsewhere).

So, my grandmother died a while ago. She lived in the UK and was British - I am also British, but now live in Poland. I stand to inherit some cash (I'm one of a few beneficiaries, based on her will).

As far as I am aware, UK inheritance law will apply, as will Polish inheritance law.

As far as I'm aware, the estate should not exceed the UK limits, which means there should be no tax to pay from a UK law perspective.

From a Polish perspective, it seems that, as I am classified in tax group I. And, as a direct descendant, it's possible that the inheritance could be exempt from tax. However, from what I've heard/read, one condition relates to notifying the tax office within a six month period. This is the part that I am struggling to find information about - essentially, when does that six month period start? Is it from the day a person dies; is it from the day and funds are transferred to the beneficiary; is it from the day any tax issues were sorted out in England; or is it something else?

Also, if there was no tax to pay in the UK, then would this even be applicable?

NewFlatBuyer

4 Mar 2017

Real Estate / Applying for a mortgage in Poland (wife and husband) [9]

Merged:

Applying for a mortgage / no credit history

Hi,

I am currently living in Poland and am looking to buy a flat with my wife. In order to do so, we will need to take a mortgage; however, I am slightly concerned about my chances of being approved - mainly due to a lack of credit history.

As far as I can tell, I will no longer be able to get a credit report from the UK, as I am no longer a resident there. Is this the case - and do most banks ask for a foreign credit history from non-Poles? Also, has anyone got any advice or useful information etc. about credit histories/Polish mortgages? Is it possible to get a mortgage without one - I've got little or nothing in terms of a credit history in Poland.

I've heard it might also be possible to write to my bank in England for a letter saying I have no mortgage or other credit from them - but this seems a bit pointless to me. Does anyone know anything about that kind of thing?

Any info on the subject would be much appreciated. And, for the record, we will be putting in a little over 26% in terms of a deposit, which is higher than the minimum, might that help?

NewFlatBuyer

15 Dec 2016

Real Estate / Making an offer on a new flat in Poland [15]

Hi,

My partner and I are looking at buying a flat in Poland (our first property). I don't know if it matters, but we both live and work in the country (she's Polish).

We have seen a new flat in the primary market (i.e. we hope to buy a brand new flat, which we will then furnish etc).

The flat we've seen is advertised at just over 300k zl. Can anyone give any advice about making an offer - basically, what kind of offer is appropriate? I appreciate that there are many factors that might influence things (location, demand etc), so it will be hard for anyone to give any completely relevant advice; however, any input would still be welcomed. For example, are developers more or less likely to accept negotiations compared to private owners (on the secondary market).

We were thinking of putting an offer of 290k o start with, which works out at a little over 4% under the asking price. Does this sound fair? Personally, I don't think this is excessive, I we'd be willing to negotiate further (for a higher price), if necessary; however, we don't want to offer too much, if they might be willing to accept less! Having said that, we don't want to look like we're wasting their time, especially if they don't take us seriously, and end up selling to someone else (we like the flat we've found).

Thanks for any help!