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Help to buy a flat - for Poland's first time buyers


InWroclaw 89 | 1,915
1 Oct 2013 #1
Some Poland govt scheme is available for first time buyers of property in Poland (apartments/flats/houses).

It starts next year, in January, I believe.

Can anyone tell me more, please, in English?
vjmehra 16 | 80
1 Oct 2013 #2
I've not seen anything about assistance, however I believe there are new government guidelines coming in to enforce what I believe most banks have already voluntarily implemented anyway, e.g.

-No foreign currency mortgages
-Max tenor of 35 years (with the majority being 25 years or less)
-Min deposits required

I read this in an FT article, but it was a bit unclear as it suggested a min deposit of 5-10%, but then a max LTV of 85%, which sort of doesn't add up!
OP InWroclaw 89 | 1,915
1 Oct 2013 #3
Useful, thank you :o)

However, someone told me they read online somewhere in some financial website that the govt of Poland is offering some new scheme from Jan for FTBs. I was wondering if anyone knew what that was.
BRS 2 | 48
1 Oct 2013 #4
Poland's lower house of parliament approved the draft law introducing the new state
subsidy program ŇApartments for the Youth.Ó The bill was supported by 258 MPs,
while six were against it and 175 abstained. ŇApartments for the YouthÓ is a program
directed towards married couples and single persons under the age of 35 buying new
apartments. The value of financial support will be 10 percent of the apartment's value
for those who do not have children and 15 percent for those who have with additional
subsidies when more children are born. Subsidies will be granted for up to 50 square
meters of an up to 75-square-meter apartment. Deputy Construction Minister Piotr
Styczeń told members of parliament that in 2014 the government will earmark zł.600
million for the program, then zł.715 million in 2015, zł.730 million in 2016, zł.746
million in 2017 and zł.762 million in 2018.
vjmehra 16 | 80
1 Oct 2013 #5
That is interesting!

Do you have the (presumably Polish) source for that, would like to find out more details!
BRS 2 | 48
1 Oct 2013 #6
pap.pl - But I don't know where exactly, however you will find it in all the news.

Most important part however is the property can't cost more than PLN 5,944 per meter for Warsaw. Some other links to related news:

The new program in Poland will support the purchase of a first home is compared to the previous two advantages : it increases the creditworthiness and promotes having children .

On Friday, the Parliament passed a law on state aid in the purchase of a first home for young people. The Act will soon be on the agenda of the Senate , and would enter into force in the first quarter of next year.

OP InWroclaw 89 | 1,915
1 Oct 2013 #7
Thanks for tracking it down for me, BRS :o)
Arhsub - | 5
23 Oct 2013 #8
No, I think there is no schemes for first time buyers right now.
Just remember some tips while buying, Check out the location and neighbors. Check out the Landlord or Seller.
Goldiewatson 1 | 1
12 Nov 2013 #9
We had to go to Poland and set up a mortgage with a bank. It was quite complicated but if you want to do it it is worth the visit. Make your appointments before you go
hjaker
16 Feb 2014 #10
Merged: What is exactly the ''TBS system'' while buying a flat in Poland?

I have realized that for buying a flat, on the ''less expensive'' ones, the TBS system is quite often mentioned. What is that exactly?
Monitor 14 | 1,820
16 Feb 2014 #11
pl.wikipedia.org/wiki/Towarzystwo_budownictwa_spo%C5%82ecznego
krak-system.com.pl/index.php?id=18

use google translate


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