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Mortgage Policies in Poland for Locals & Foreigners



You can be sure that you will have a much more satisfying experience when you do everything you like to do (for example, play on internet casino sites) in your own home. Fortunately, this is not that difficult nowadays: mortgage loans, which exist in almost all countries, make becoming a homeowner quite easy. Using mortgage loans, you can also own a house in Poland, and you do not even have to be a Polish citizen. However, this system works a little differently in Poland. To help you, we have prepared a short guide on Polish mortgage policies.

Pick Your Home, Start Collecting Documents

If you want to buy a house with a mortgage in Poland, you need to start by checking your citizenship status. There are three possibilities in this regard:

  • You are a Polish citizen.
  • You are not a Polish citizen but live in one of the EU countries.
  • You are not a Polish citizen and do not live in an EU country.

The mortgage procedures for all three possibilities become exactly the same after a certain stage. However, in the second and third options, you should start with additional documents: EU citizens need a “registration of stay” document, and non-EU citizens need a “residency card.” Having these documents also enables you to have a PESEL (Polish identification number). With a few exceptions, almost every bank in Poland requests your PESEL number, and having this number makes it easier for you at every stage of the mortgage process, as we will explain below.

Once you have the PESEL number, whether you are a Polish citizen or not, the things you have to do are pretty much the same. First, you have to select the house you want to buy and collect the documents about it. Truth be told, this stage is the most complex as the number and type of documents you need to collect varies greatly depending on the type of house. The easiest thing is to collect documents for a second-hand flat, since in this case, it is often enough to give the national registry number. But if you want to use a mortgage for a first-hand flat or a house, you need to collect plans, permits. and dozens of different documents. Even if you are a Polish citizen, we strongly recommend that you seek help from a local mortgage broker at this stage. Because even if a single document is missing, you may have to start all over again.

Check Your Creditability

After all the documents about the house or flat have been collected, you need to apply to the bank you want to use a mortgage and determine how much loan you can get. This is called the “creditability” stage, and each bank requires different documents from you for this process. For example, some banks want you to have been working in your current job for at least 6 months. Others consider it sufficient to provide just a 12-month bank statement. Since each bank has different procedures, it is not possible to say exactly which documents will be required at this stage: you have to learn this at the bank.

However, no matter which bank you choose, there is a fixed “golden” rule: the credit you can use cannot exceed 60% of your monthly net income. The mortgage system in Poland gives importance to your income as an individual rather than the value of the real estate to be purchased. For example, let’s assume that you have a monthly income of 10,000 Zloty: the credit you will use cannot exceed 6,000 Zloty (60%) per month. Mortgage loans in Poland are issued for a maximum period of 30 years, so the total maximum loan you can use in this example is 2,160,000 Zloty (6,000 x 12 x 30).

However, in reality, no bank is acting this generously. In practice, they also consider your DTI (debt to income) ratio. So, for example, even if your monthly income is 10,000 Zloty and your monthly credit card expenditures are above 4,000 Zloty, your credit allowance will be much less than 60%. As we mentioned above, each bank’s implementation is different, and they use their own special valuation rules. Still, these basics are enough to get you started and find out what to expect. In any case, the maximum amount of mortgage you can use is determined at the end of this procedure.

And You Get Your Loan

After examining the documents you submitted and measuring your creditability, the bank may accept or reject your application. If it is accepted, you will be invited to the bank by appointment. But keep in mind that this does not mean you are eligible for the loan: this appointment is just a form of “pre-approval.” You meet with a mortgage representative at the bank, and often this stage results in a valuation appointment to determine the value of the property. You have to pay for this process yourself, and it usually costs 400 – 500 Zloty. If the valuation process is also positive, you are invited to the bank for the last time to sign the mortgage agreement. At this stage, you are asked to pay an amount ranging from 10% to 20% of the value of the real estate upfront. After making this payment and signing the contract, your loan becomes available. Now you are a homeowner – congratulations!


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