/ Is it possible to take out a mortgage/loan and buy a property in Poland whilst living abroad?
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?
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.