Any idea if any UK banks offer mortgage to buy a property in Poland?

Any idea if any UK banks offer a mortgage to buy a property in Poland? I dont want to do via polish banks...

There will be some banks that do, however, it depends on your circumstances and if the property will be a primary, secondary or buy to let property.

It will also depend on where you live, where you work, where you are registered for tax purposes. Many factors. Since you can still buy properties for well under £50,000, you might consider a loan as opposed to a mortgage, depends on how much money you got, innit!

I have a very good credit history,earn about £28k per year, pay taxes and etc. Want to buy to let. CAnt really find any bank who is willing to offer a mortage for a property in Poland...Thanks for help.

Yes, but:
a) it's more risk to them as they're operating outside the market they know well, so they're going to want a higher return, i.e. the mortgage is going to cost you more;

b) in the event that things go pear-shaped and they need to repossess, they don't know what they're doing or how to do it, i.e. there's more risk to them and thus the mortgage is going to cost you more;

c) there will be currency risk involved (as you'd be borrowing in GBP but the asset securing the loan will be valued in PLN), so the bank will want a higher rate of return and the LTV ratio is going to be a lot lower;

d) it's going to be a humongous pain in the cock from the paperwork viewpoint.

You're really a lot better off going to a Polish bank. Either that or releasing equity you have in your UK property by remortgaging there.

There are currently NO UK banks that lend for Polish property.
In Poland we found only 3 banks that were prepared to lend to us, we earn and live in the UK.
I think you will struggle if you want a Buy to Let mortgage...anywhere.
Re mortgaging a UK property to buy or help towards a Polish property was also turned down here in the UK.

On what grounds? What business is it of the bank's what you intend to do with the funds from the equity that you release in your property?

Quite!
but they do ask you what you want the money for. we of course were honest so were turned down. If we had said it was for a couple of new cars it would have been approved, 'go figure' as the Americans say.

What I really dont understand is how the 'average' Polish person can actually buy a property. if you take their wages against the cost of property it doesnt add up to me?

For standard UK Highstreet banks, forget it. Having said that HSBC are active in Poland you could approach HSBC in Poland see what they recommend.

PKO used to have a branch ikn London but from what i just read theyve closed, that may have been your best bet.
pkobp.pl/pkobppl-en/uk-customers

They are active here, but not in that sector. They certainly don't give mortgages for Polish properties.

Can I ask the OP why he doesn't just go to a Polish bank?

Funnily enough my wife worked for Midland Bank as a branch manager for some years, even worked for HSBC when they took over, so our main account is with them. HSBC in Poland said no straight away, same for the UK branch when we mentioned perhaps remortgaging our UK property.

The Polish banks main criteria appeared to be because we are UK residents and earn our wages in the UK they were not prepared to allow us a small Polish mortgage even though we had paid a substancial 80%+ cash deposit.

ti think they were cuing up to hand out 100% + mortgages less than 6 years ago.

Friend of mine got 110% five years back, in Swiss Francs too!

Indeed, i know a few people that took a mortgage on the property then included the agency commission of 3% and the fit out costs about 50,000 PLN, 105% - 110%.

Merged: Loan from GB bank and property in Poland

Hi everybody! I would like to ask you a question, maybe you happen to know, if there is any bank in GB which mortgages Polish property.

Thanks

a) I'd be very surprised if there (still) was.
b) If there was, they'd be facing higher risks and higher enforcement costs, so they would want a much higher return, i.e. they are really going to screw you on the interest rate.

c) Why would you want to borrow from a UK bank instead of a Polish bank?

My question is connected with my profession. Just wondering if I could value property for those who live in UK and want to buy in Poland. But probably it is really better for them to take loan in some polish bank.

Nevertheless thanks for answer.

hi, at the moment I can tell that any foreigner from UK will not get a mortgage and I have not clue when it might change.

you have some chance if your earnings are in PLN or in Euro.