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Mortgages in Poland for non residents

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Arranging your non-resident mortgage in Poland

According to a report published by a magazine "A Place In The Sun" Poland in on second place among 20 best places in Europe to make money. Until Poland joined EU, few foreigners without family links would consider buying a property there.

By and large the market remains one of investment. Not too many Brits visited Poland, however that is changing now. Largely thanks to such cities like Gdansk, Krakow, Wroclaw, Zakopane.

Purchase and re-mortgage of houses, apartments, buildings and freehold land are available for the majority of Nationalities. 

Based upon the valuation or purchase price (whichever is lower) you can borrow up to 50% (of the value of your property) if you are self-employed, 70% if your are employed.

There are no non-status/self-certification mortgage facilities available, therefore all loans need to be supported by a minimum of, proof of income.

If you are employed, you will need to produce, your last six months payslips, P60/employers reference and your last 6 months Personal bank statements. If you are self-employed you will need copies of your Audited Accounts together with you last 12 months business, and 6 months personal bank statements.
Additional Requirements:

Opening a bank account is necessary. It is a requirement that rental income on the property must be mandated to this account and the mortgage will be taken directly from this account. (Please note however, it is not always the case that the Lender will take all or part of this income into account when determining the maximum loan available)
 
Type of loans available: Repayment basis only
Minimum loan amount - €23,000. Maximum TBA, but must not exceed 70% of valuation or purchase price (whichever is the lower) if employed and 50% if self-employed.

Term: Maximum 25 years up to age 70 
Currency: Polish Zloty, US$, Euros & Sterling

Current Variable Interest Rate: from approx 5.60% in Euros, from approx 5% in Polish Zloty.

Example Mortgage: Repayment Mortgage of €100,000 over a period of 25 years at an approx Variable interest rate of 5.60% = approx €620..00 Capital & Interest per month = a total approximate amount payable over the term of €186,000 excluding other fees.

* Max age 70

* Max 50-70% LTV

* Min loan €23,000

* Rates from approx 5.60%

* Maximum Term 25 years

* Currencies: US$, Zloty, Euros & Sterling (£) only

* Repayment only

 

 

 

 

 

You can contact agents able to assist with your property purchase in Poland by completing this form

Click for Overseas Mortgages

Think carefully before securing other debts against your home. Your home or foreign property may be repossessed if you do not keep up repayments on your mortgage.

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