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Best Mortgage Lender in Poland?


EdWilczynski 3 | 98
9 Aug 2011 #1
I am paid in Swiss Francs and at the moment it makes sense for me to take a mortgage in CFH.

Are there any lenders who will lend in CFH right now?
delphiandomine 88 | 18,858
9 Aug 2011 #2
Are there any lenders who will lend in CFH right now?

Don't take my word as gospel, but the general opinion is - no, at least not for CHF loans which are to be repaid in PLN. This might change when the law is introduced to allow payments in any currency, though.

Your best bet might be to try and go through a mortgage broker who can attempt to set up a specialist arrangement where you repay in CHF rather than PLN.
peterweg 37 | 2,321
9 Aug 2011 #3
Obviously a CHF mortgage would be the best option now, I thought I read they were more popular than ever?

Are there any lenders who will lend in CFH right now?

Swiss banks for a start.
alexw68
9 Aug 2011 #4
delphiandomine: Your best bet might be to try and go through a mortgage broker who can attempt to set up a specialist arrangement where you repay in CHF rather than PLN.

Irrelevant if you are earning in PLN and can't use savings to get ahead of the curve at times when the rates are good - you're stuck with the rate obtaining at the time the monthly payment's due.

If you've got savings, though, open a CHF account and put some into the currency when the rate is favourable (so, not today: bad time to attempt a retrofix). Even if you have to convert back into PLN to do the payment, what you lose on the spread is nothing compared to the FX risk of CHF appreciating 70%.
delphiandomine 88 | 18,858
9 Aug 2011 #5
Irrelevant if you are earning in PLN and can't use savings to get ahead of the curve at times when the rates are good.

True, but he earns in CHF ;)

Apparently it will change though - there's a proposal that mortgage lenders will have to accept payment in any currency, not just PLN.
andy b 4 | 156
12 Aug 2011 #6
I am paid in Swiss Francs and at the moment it makes sense for me to take a mortgage in CFH.

From a few internet searches, it looks like the following banks will still loan in CHF in Poland right now:

Bank BPH, Nordea, Multibank, mBank, Polbank, Alior Bank (cheapest margin is Bank BPH).

I found the table with information and margins etc on the following Polish-language link:

strefabiznesu.nowiny24.pl/artykul/ranking-najlepszych-kredytow-hipotecznych-%E2%80%93-lipiec-2011-62457.html

Scroll down for the CHF table and information, it's nearer the end of the article
LwowskaKrakow 28 | 431
12 Aug 2011 #7
As long as the Polish government will not regulate and pass bills to protect naive consumers from bank sharks, Poland will still be a land of Savage Capitalism .
milky 13 | 1,657
12 Aug 2011 #8
Poland will still be a land of Savage Capitalism .

That's for sure.
pip 10 | 1,661
12 Aug 2011 #9
Poland will still be a land of Savage Capitalism

with the former communists leading the way.
delphiandomine 88 | 18,858
12 Aug 2011 #10
Which former communists are leading the way, tell us?

As long as the Polish government will not regulate and pass bills to protect naive consumers from bank sharks, Poland will still be a land of Savage Capitalism .

Bank sharks?

Cases of real "sharking" are quite rare in Poland. There's always cases where idiots have failed to read the contract before signing, but that's their own stupid fault.
LwowskaKrakow 28 | 431
12 Aug 2011 #11
but that's their own stupid fault.

Naive consumers are not necessarely stupid ,were you never abused by some phony promises or ripped off?

Look at the Madoff victims, thousands of them among whom some very very clever people!
delphiandomine 88 | 18,858
12 Aug 2011 #12
Phony promises? First rule of doing business is never to do anything "on a promise".

Ripped off? Nope - it's called doing your homework.
papieza 5 | 25
12 Aug 2011 #13
Amen to this! Before we signed our credit agreement, we had to get the contract corrected 3 times before we signed. The bank apparently made a mistake. Yer right!!!

A few points.

1. Look at the repayment schedule. They will give you a simulation for 30 years but in the contract it can say anything. Ours was 46 years!

2. Taking insurance is mandatory, but you don't have to take the one with the bank. They wanted to add 28,000 PLN to our mortgage for the insurance.

3. If you take a mortgage not in PLN check that there is no clause saying that currency will defult to PLN in 2 years! Ours was in € and there was a clause saying it would automatically default to PLN after 2 years.

This was all with a top name high street bank. Just assume that everyone is out to rip you off. And you won't go wrong!!! :)
Snowmuncher 3 | 24
7 Oct 2012 #14
with the former communists leading the way. Which former communists are leading the way, tell us?

Are you serious?

For one Leszek Cazarnecki. He is a main shareholder of five companies listed on the Warsaw Stock Exchange: Getin Holding, Getin Noble Bank, LC Corp, MW Trade and Open Finance. He has enormous economic, business and political influence, and according to the Warsaw Voice quoting the website of the Rzeczpospolita "is said to have worked as agent for communist security services in the 80s, while at high school and university in Wroclaw"

And that's the tip of the iceberg. The whole strata of Polish politics, business, media and banking is cut through with people like him.

As communism fell, with all its businesses and power and privilege, who do you think was in a position to and had the knowledge and contacts to take advantage of those assets not properly controlled and bolted down amidst the confusion? The same happened in the other former Soviet Union countries to some extent or another. Take a closer look at the origins of some of those countries' MEPs sitting in Brussels.
delphiandomine 88 | 18,858
7 Oct 2012 #15
"is said" - a common smear in today's Poland.
Snowmuncher 3 | 24
7 Oct 2012 #16
"is said" about something untrue would be defamation in Polish law. "is alleged to ...." would be used by the newspaper if it could be untrue.

Billionaires with reputations to protect and enormous egos have teams of lawyers waiting to take action, and money is no object as regards legal costs. In general, it is likely there could be a lot more that the newspapers would like to publish but are too scared to because of the the threat of litigation. They take a great deal of care about publishing something negative about a billionaire with enormous influence. If it were some salaried government official or a foreigner then the risk is very low.
delphiandomine 88 | 18,858
7 Oct 2012 #17
Why didn't you post this, too?

In a statement published on Rzeczpospolita's website Czarnecki admitted having signed documents on co-operation with communist secret services as a university freshman tempted by prospects of gewtting the chance to study abroad.

Snowmuncher 3 | 24
7 Oct 2012 #18
Because normally, billionaires sue people for making untrue statements that defame them, not make counter statements. If a newspaper said something that unsavoury about me that was false and defamatory, I would sue and I am certainly not a billionaire.

And my point was not only about Czarnecki, it was about the influence of the communist era in Poland today.

"And that's the tip of the iceberg. The whole strata of Polish politics, business, media and banking is cut through with people like him.

As communism fell, with all its businesses and power and privilege, who do you think was in a position to and had the knowledge and contacts to take advantage of those assets not properly controlled and bolted down amidst the confusion? The same happened in the other former Soviet Union countries to some extent or another. Take a closer look at the origins of some of those countries' MEPs sitting in Brussels."
Grzegorz_ 51 | 6,163
7 Oct 2012 #19
For one Leszek Cazarnecki.

Overall you are right but you picked up a wrong guy.
delphiandomine 88 | 18,858
7 Oct 2012 #20
Because normally, billionaires sue people for making untrue statements that defame them, not make counter statements.

Except that you'd be at the mercy of a Polish legal system where the independence of the judiciary is - well - questionable.

And my point was not only about Czarnecki, it was about the influence of the communist era in Poland today.

Of course, but what else could be done? There were two real options at the time - either remove them totally from business/etc, or bring in foreign expertise. Unlike Czechoslovakia and Hungary, Poland didn't have the cash to appoint foreign experts - so they went with the pragmatic option of allowing people with experience to actually run things.

We already saw what happened in many State owned enterprises when they allowed the workers to take control - the ruin of the shipyards, the destruction of state-owned factories - all under Solidarność control.
Snowmuncher 3 | 24
7 Oct 2012 #21
delphiandomine

It seems we agree, although perhaps not about how positive or negative this is and how immoral this is. But it seems we have gone far off-thread anyway.
adamm19830 10 | 43
15 Jun 2016 #22
Merged: Good Mortgage Broker

Hello,

Could anyone recommend any good mortgage brokers in Poland?

I am buying a house in Lublin if that helps.

Thanks
terri 1 | 1,665
16 Jun 2016 #23
Go to any bank and see what they say. Then go to another bank, then go to another bank. After you've been to about 6 banks, consider your options.
jon357 66 | 16,977
16 Jun 2016 #24
good mortgage brokers in Poland?

Oppenheim Kredyt always used to be good at sorting mortgages for foreigners - maybe they still are. A friend who used them twice had previously been refused by banks, including the bank theh eventually sorted him a mortgage with.
adamm19830 10 | 43
17 Jun 2016 #25
Oppenheim Kredyt

Do they have a website? My quick search on Google isn't coming up with anything


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