Just thought I'd ask this question here just in case someone has been through this.
My plan was to buy (building) land cash then get some credit to build a house on it. (I know there is an awful lot more involved but for the ease of this message I've broken it down to simple terms)
However after speaking to someone this past few days, they informed me that it is possible to get credit for buying land and to build a house together, with the drawback being the money borrowed for the land would be on a higher interest rate than the building of a house. This way it would leave our "cash" designated for land sitting pretty in my bank account. Is it true that you can get credit for land aswell as building a house?
It's certainly possible, but whether anyone will lend is another question. If you have umowa o pracę for a large amount with a reputable company, then of course you can get such a loan, but if you're trying to do it on the basis of self-employment, it's not going to be easy.
Polish lenders are very risk-adverse in general.
If you are buying it privately, not through a company, the bank is generally going to go by your yearly PIT declaration. For a business loan it will be different, they will take into account various deductions and you may well need a business plan.
The person that told you may have meant that to get a house loan these days you need a deposit of at leat 10% while many banks are asking for 15 and even 20% as per government guidelines this year. So they may have meant in a roundabout way that if you buy the land you will have no cash for a deposit. Certainly any assets you hold won't go against you and the bank may consider the land as part or your deposit.
I was self-employed when I applied for a mortgage. Although the bank I applied to wasn't my bank, it was reasonably straightforward. They just needed evidence of my income going back several years, and evidence from the court and tax authorities that I wasn't in hock to them or had outstanding litigation against me. In the end I didn't take their offer because they attached several strings which I found unacceptable. They said I would have to open a current account with them (that one was no problem). They said a minimum of 70% of my income would have to go through that account. They said I would not be able to pay off any capital for one year, just interest (crooks). They also said they would control the stages of the building work and fine me if I deviated from their plan. I told them to shove it, finished the house through earnings plus a smaller personal loan from my bank, and moved in six months later than I had hoped to do.