Polish Mortgage for Foreigners
If you need finance to purchase a property in Poland, then E-Expert can help.
We are a team of licensed credit brokers, who have a knowledge and anexperience in this field. To may be able to raise a repayment mortgage on the Polish property you wish to purchase, depending on your circumstances.
Based upon the valuation or purchase price (whichever is lower) you can borrow up to 100% (of the value of your property) in Euros, US dollars, or Swiss Franks, for the purpose of purchasing the new property or re-mortgaging an existing property, for home improvements.
Almost all Polish mortgages are of the variable rate type, so interest rates are based on prevailing interbank rates plus the addition of the bank's profit margin (usually between 1-3%).
In recent years, the most popular loan currency in Poland by far has been Swiss Franks (CHF). There are obvious reasons for this popularity - you only have to look at the rates above to see its attractiveness when compared to other currencies.
Loans are available to foreign investors for the purchase, construction, modernization and refinancing of Polish properties.
Loans can be denominated in a number of different currencies - currently loans are offered in Euro (EUR), US$ (USD), Zloty (PLN), Sterling (GBP) and Swiss Franks (CHF).
For variable/floating rates, the interest rate is based on a variable base rate equal to WIBOR 6M (PLN), EURIBOR 6M (EUR) or LIBOR 6M (CHF, USD, GBP) which is then increased by the Bank's margin, which will depend on the period of the financing, loan currency and the Borrower's down payment amount.
The typical maximum LTV is between 60-80% with loan duration up to 35 years, depending on your age. Your foreign income will be taken into consideration when determining your eligibility and the terms of the loan.
In addition, some lenders are offering 'buy to let' mortgages which will take into account prospective rental income from the mortgaged property - see the information below.
Mortgages Available to Foreigners
| Currency Options: |
EUR, USD, PLN, GBP, CHF |
| Term of Loan |
From 4 up to 35 years |
| Repayment Method |
Only 'Capital and Interest' repayment mortgages. Interest-only mortgages are not available. |
| Minimum Down Payment |
Ranges between 20-40% (i.e. Loan to Value between 60% and up to 80%) |
| Loan Amount |
Minimum of 20 000 PLN, maximum will depend on individual circumstances |
| Interest Rates |
Fixed or floating/variable |
General Information
| Resident's Card |
Not Required |
| Sanctioning Fee |
Between 1-3% |
| Foreign Incomes |
Are applicable. All loans need to be supported by proof of income. |
| Availability |
For the purpose of purchase, construction, modernisation and refinancing |
| Grace Period |
Short-term postponement of loan repayments granted with some loans |
| Polish Bank Account |
Required, though should be organised by lenders as part of the loan application |
| Loan/Bridging insurance |
Required in some cases until applicant's name has been entered into the Land and Mortgage Registry |
| Property Insurance |
Required in some cases |
| Currency conversion |
For non-PLN loans, some banks charge a currency conversion fee |
Contact us today :
tel. +48 692 77 92 07
email: info@e-expert.org |
tel.