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Home loan for foreigners (not from EU) in Poland?

17 Nov 2014 #1
Just wondering if anyone can help me i live in australia and i am a australian citizen my wife lives with me and is a polish citizen i am looking at buying land in poland and moving to poland

am i able to get a home loan in poland
Looker - | 1,126
17 Nov 2014 #2
Yes, of course you're able to get a loan but under the specified conditions.
Trying to do so you should attach proof of income by the employer, tax return and information about your creditworthiness (in your case from Australia). Some banks require translated documents by a certified translator, others allow their presentation in English. Most banks also requires foreigners check on Polish territory, if this is not the case, then you are expected to establish on the basis of a notarial act your representative, who will have a home address in Poland. Procedures relating to EU citizens, are a bit more simplified.
polishmortgages 7 | 36
18 Nov 2014 #3

Looker i would say that it is not possible to get mortgage for a land by people having income in Australia, US. it is very dificult to get mortgage by foreigner from EU zone not saying US, Australia. Sorry sorots but you need cash to buy a land

kind regards
Monitor 14 | 1,820
18 Nov 2014 #4
Recent regulations forbid Polish banks granting credits in different currency than the salary. I don't think that there are any banks giving credits in AUD. It must be quite hard to prove to Polish bank that you have any job in Australia too.

This year, the sparse foreign currency loans found their way only to a very wealthy Poles. This happened because the banks gave them to people whose monthly income was substantial, ranged even 12-15 thousand. zł net. This is far more than required in previous years. The analyst told PAP that the average value of these loans was high - approx. 500 thousand. zł, while the average PLN loan for an apartment is 200 thousand. zł.

The decrease in the number of foreign currency loans in Poland is a result of Recommendation S of the Financial Supervision Commission on the mortgage, which entered into force in January 2014 to reduce currency risk. It has increased significantly after the financial meltdown in the US in September 2008.

In July this year, came into force last of the recommendations in Recommendation S. As stressed Sadowski, from the beginning of July, the banks can not give foreign currency loans to those who earn in Polish zlotys. In contrast, loan in our currency will not get persons or family that receive such income mostly in eg. euros or dollars.

He added that the people earning in foreign currency will not have easy life, because the euro, dollars or British pounds credit offers is not much on the market. - For example, about eight banks intends to provide loans in euros on a new basis - he explained.

MrBen 1 | 1
19 Oct 2018 #5

Can Any one please tell me what it takes to get a loan from the bank and buy apartment in Warsaw?

Please I need an advice, I and my wife are planning of taking a loan from Polish bank to buy apartment in warsaw. Do anyone knows the process? I am from Africa and i have a Polish wife with a newborn baby.. My Wife is working and I myself is working. we are both in labour contract. Please advice.
johnny reb 38 | 7,796
19 Oct 2018 #6
Go to your father in law and ask his advise.
I am sure he would have some suggestions for you.
lonpol 7 | 69
19 Oct 2018 #7
Its difficult to get a mortgage if you do not live in Poland. I looked into and spoke to a mortgage broker in Poland. Even being Polish and having a solid well paid job I could only use a couple of banks and they wanted 30% deposit. Best to save up and pay cash ( with maybe a couple of personal loans in your home country )
MoOli 9 | 480
20 Oct 2018 #8
@Mr Ben,better use an agent,who have contacts with different banks and know what each bank require.They do charge a commission between 1/2% to 1 % and there are closing costs till 2%.If you have a resident card then it is easier otherwise banks would ask 25 to 30% down payment for a residential property.The whole process I heard usually takes around 1 to 2 months.
johnny reb 38 | 7,796
20 Oct 2018 #9
What would a person be looking at as far as interest rates on such a loan in Poland ?
Here in the U.S. they have sky rocketed in the last year to I think around 5% with 20% down.
MoOli 9 | 480
20 Oct 2018 #10
3 to 4% variable,as they don't have fixed rate mortgages,one reason I never take loan there.Even on residentials they charge you pre payment penalties.In US infact they are 5,75 for commercials now and going up.I think another 10/15 years you can live off the money in bank again if they keep on going up.

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