Good morning, good morning, this is Paweł

Albrecht here; with me is Joanna Adamiec,

who is a mortgage adviser in Poland.

Hello Paweł.

If you are not a Polish citizen and you

want to take out a mortgage in Poland

for a home, this episode is for you.

Let us start with this: can a

non-Polish citizen take out a

mortgage for a home in Poland?

Yes, they can take out a mortgage

for a home in Poland, and what is, in

general, very important when it comes to

creditworthiness, when it comes to the

matter of the down payment or the offer,

remember that practically these requirements

are the same as for Polish citizens.

In other words, banks, from a financial and

economic perspective, do not discriminate

against these people in any circumstances.

Naturally, there is already a difference

here, depending on whether we have

citizens of the European Union, or

foreigners from outside the Union, in

the context of formal requirements,

namely residence cards and passports.

However, what is very important is that, from

the standpoint of financial and eligibility

considerations, it is identical to that

for Polish citizens, indeed, in practice.

So if I am, say, a citizen of Ukraine,

and I want to take out a loan in Poland,

that is, to borrow money there, I must

have a permanent employment contract,

or self-employment, or those other

forms which we will discuss later, have

creditworthiness, which I can demonstrate,

have a down payment of 10, 20, or 30

percent, and I can take this loan on

the same terms as those other loans...

A Pole, right?

Yes, when it comes to the rules

about finances, exactly so.

Now, let's talk about it a little more in

detail, because, in fact, this is really the

most important part: what documents you need

to have in order to be able to get this loan.

Additionally, that is, what the formal and

legal criteria are for a citizen coming

from Ukraine, because he has already...

And now we split the banks into two distinct

groups: one group consists of banks that will

accept only and exclusively the permanent

residence card, that is, the residence

permit which has already been legalized for a

longer duration, and we also have banks that

will accept the temporary residence cards.

This is very important, because

these temporary residence cards are

issued for a period, usually three

years, and that constitutes the

minimum validity period of the card.

So, at the moment of submitting the

application, we should remember that

the residence permit card must be valid

for at least six months into the future.

There are banks that require

it to be, for example, twelve

months, such as ING Bank Śląski.

But we can bear in mind that this

is the absolute minimum, the six

months required just to be able to

proceed with the loan application.

Also, a Ukrainian citizen must have

a PESEL number assigned, because it

sometimes happens that this PESEL

is not on these residence cards.

Then there must be a certificate of

the assignment of a PESEL number.

Today in Poland we won't do

anything; remember, without PESEL.

And also a valid Ukrainian

passport is required.

Why?

Because when we submit an online loan

application, we enter the passport

serial number as well as its expiry date.

This document proves that this

is the right person indeed.

Exactly, because this is proof

of identity, so it must be there.

And in fact, with these three

documents, we can now apply for loans.

There's even one exception I want to mention

here in particular: there's one bank on the

market that can grant a mortgage without a

residence permit, i.e. a PESEL is enough.

In fact, a valid passport is enough,

and the additional document the bank

already requires is a report—the

Polish BIK report equivalent—which

has to be downloaded from Ukraine.

However, you don't have to travel

anywhere—I'll say it now, you

don't need to go anywhere, you

can do all of this electronically.

Yes, our clients recently faced such

a challenge and were able to handle it

without much trouble, and it literally

takes about a dozen minutes, and a Ukrainian

BIK equivalent could appear in our inbox.

Yes, we are recording this episode

specifically for foreigners in Poland who

have come here for this purpose, because

I have received a very large number of

requests specifically from my friends in

Ukraine, from both male colleagues and

female colleagues, who asked me to produce

such an episode after they had watched our

series about loans, and after seeing how our

discussions about loans have been conducted,

for listeners new to these financial topics

who prefer clear explanations, for listeners

who are not yet experts in finance today.

No, you specialise in these kinds of

loans for people coming from abroad,

so... We strongly encourage you to get

in touch with Asia, who is a loan expert.

I’ll explain how things work here in Poland.

In Poland, this is how it operates: you can

simply go to a bank's customer service desk

and ask for a mortgage loan, and then carry

out the required procedure with the bank,

or, in Poland, there exist so-called loan

professionals who can arrange one for you.

All offers currently available in banks,

including information on commissions charged,

the costs involved, the instalment amount,

and the range of additional products;

including home insurance, life insurance,

and whether there is an extra card, as

well as other supplementary products.

Compare all of this and, for you,

choose the best option on the market.

The mortgage and loan expert does not take

any money from you; on the contrary, he

does the work for you for free, that is, he

gathers all your documents, explains what

needs to be done, and even assists you with

translations into Polish to make it easier

for you to navigate everything involved.

He knows all the people, knows the staff

in bank branches with whom he talks; he

simply does this for many, many years.

And then the credit experts in Poland

receive remuneration from the bank,

which is the bank’s remuneration, because

the bank, instead of paying its branch

employees, pays a commission simply for

bringing the client to the credit adviser;

and the credit adviser chooses for you

the best offer that exists on the market.

The better the offers you see and

consider, the more satisfied you will

be, and more people later, via referrals

as well, will also come to the adviser.

That is, in fact, precisely how this works.

It is a genuinely win‑win market, the

kind that benefits everyone involved.

And, as credit professionals, we commit

to identifying and selecting the very

best proposals available, because, as you

say, the market is fairly transparent;

therefore, if any expert fails to look after

the client’s interests properly, sooner or

later they will end up losing them entirely.

Well, that's how it works.

If you have ever taken out a mortgage in

your own country, or even abroad, you know

that the sheer amount of paperwork you must

complete is truly substantial, especially

if you are not doing it in your own country.

And it is quite challenging, so it is

worth getting help from a mortgage expert.

I own a great many properties in Poland and

in the United Kingdom, and I always rely on a

mortgage expert—that's simply how it's done.

Well, so now we’ll talk about the details,

but if you’d prefer not to listen to these

things in general and instead move on to your

own case individually, I’d encourage you to

go to the film’s description, write an email

to Joanna, arrange a free, no‑obligation

meeting during which you’ll discuss your

situation, how much you’ve contributed, for

what term you want the loan, what documents

you have, what you must have, what you have

to wait for, what you should pay attention

to, whether this is a good property you’ve

chosen, you’ll also receive support from

Joanna, especially if it’s Warsaw, and as we

discuss other districts Joanna will help you.

I think it is extremely important

to obtain such assistance, so if you

would like, please write to Joanna.

Now, turning to the things that cannot

be done, because we have established

that, under the same financial terms,

this loan can be obtained, and that you

must have a PESEL, a passport, and this

residence card—permanent or temporary—or,

alternatively, without this card.

So what's the main difference really

between a Pole and a person from

abroad that we must consider here?

Here we must divide these foreigners

into two groups, namely EU citizens or

citizens from outside the Union, because

that distinction is also extremely

important for policy and administration,

and for the purposes of this discussion.

For example, EU citizens in this regard face

no restrictions on land acquisition; a German

or Spaniard could come here, buy a plot,

obtain a ready-built home, and would not

need any consent for that in practice today.

No, let us not forget the exemptions relating

to these border zones, the border areas, and

the strategic points where we have some bases

and so forth; it is clear these are areas

where no foreigner may theoretically enter,

but must have a special permit from the

Ministry of the Interior and Administration.

However, if we are talking about foreigners

from outside the European Union — namely

those we have already mentioned, primarily

Ukrainian citizens — this group is, one

could say, the largest when it comes to

purchasing property, and there we would have

no trouble buying a residential property.

That is a dwelling where there is

no purchase of a share in the land.

Remember that the mere plot or house,

if a Ukrainian citizen wishes to buy it,

must have the approval of the Ministry

of Internal Affairs and Administration.

And now the process of obtaining

these approvals is troublesome,

because it simply takes ages indeed.

What do I mean by saying it's terribly long?

In short, roughly this minimal

period is about three months,

but usually it's about four.

From four to six months is the waiting time.

It also depends on what exactly the

subject of the consent is—whether

it's a plot of land, or a larger piece

of land, or just shares in a road.

However, I would like to draw particular

attention here to, for example, the case

that if a Ukrainian citizen wants to buy a

property, let us remember that with regard

to this property, ideally if it is not

necessary, no plot of land forming a road, or

any land at all, should deter the purchase.

Therefore, even if it is, for example,

one twenty-fifth or one thousandth,

we still purchase that share, and we

must obtain the consent of the Ministry

of the Interior and Administration.

Let me explain one point.

If we have a block with 100 flats and we want

to buy a flat—not a house on a plot of grass,

but a flat—then in the Land Registry, i.e.,

in the document that records who the owner

is, what the area is, etc., we might find a

situation where, besides our flat, we also

own a share in the playground, i.e., we are

the owner of part of the playground for which

we are responsible as the owner of that flat.

An interest in the access road, that is,

there is... The road that leads to our

underground parking building; does that

underground garage also have any share?

So these are things that usually

happen in Poland and they occur.

Sometimes we have two different deeds.

One relates to the actual share

in the playground built into

the ground, in something there.

The second point concerns

the actual apartment itself.

So this may indeed act as a barrier for you.

But why would it be considered a barrier?

That’s because if you buy a flat with

cash and pay, say, a million zlotys

for a flat in Warsaw, you are paying

in full at the outset, and the seller

may still wait for your documents.

On the other hand, if you buy the flat with

a mortgage, you must pay a down payment that

will be forfeited if you don’t buy the flat,

in order to block it and to reserve it for

you, which effectively keeps the seller from

selling to anyone else during the process.

You're waiting for these documents; they

take ages, but meanwhile the owner wants to

sell the flat now and offer it to others,

so it's not comfortable for either side.

Besides, the mortgage documents must

also be processed, so the owner who wants

to sell is impatient, and you have to

process the loan as well, so everyone

waits and it becomes a bit of a problem.

Therefore it is worthwhile to reflect on

whether these interests in such plots of land

exist, which can also be checked with you

by arranging a consultation, and you could

determine with the developer whether the

relevant documents will be in place or not.

For this reason, it is sensible to seek

consultation and settle this matter.

You also understand that you can help

obtain this document so that it can be

directed to the appropriate place to

obtain the required consent, if required.

And now a question from your

experience: are these approvals

granted, or are there refusals?

They are granted, especially when we are

talking precisely about these shares.

And I’ll be honest with you, I haven’t

encountered a case where the refusal

would occur if we are buying a residential

dwelling and we have these shares; you

really must arm yourself with patience

here, and the developers, if they are

selling their properties, really know what

they are selling; in the vast majority

of cases, of course, not all the time.

If they have clients from outside the

European Union, they are aware that either

they must do it with two separate contracts,

or find another way to resolve it—i.e.,

not to sell these shares to those clients

if, for example, they do not constitute

the stake in the road that is essential

for the dwelling’s access to the road.

Because there are indeed certain

situations in which you simply cannot

do it any other way at all, really.

However, in the vast majority of cases,

the true and real problem is nothing

more than simply a matter of time.

But in the paperwork and formalities, as you

yourself noted, the time pressure is often

so extremely great that clients nevertheless

back out and simply do not buy the flats

they had originally chosen, and instead they

end up swapping them for other properties

that, indeed, do come with a garden.

Truth, or the form of this

affiliation: we are not buying

these shares, we simply have them.

We are already looking for premises of that

kind which do not have this, exactly this.

And let us also discuss a few additional

matters: does a person who takes out a loan

in Poland have to speak Polish fluently?

Not necessarily.

And this is very important too: we should

not fear that, if, for example, we do not

understand certain things here, no one

will administer language tests to anyone.

It goes without saying that, of course, to

some extent communicativeness is important in

how we go about getting our messages across.

However, in the worst case, if someone

genuinely speaks absolutely nothing

in Polish—such a citizen of Ukraine

or even from another country—there

is no problem: we can always rely on

the services of a sworn translator.

I recently had such a case myself as

well, with a gentleman who spoke Polish

utterly and completely no Polish at all.

And, of course, already on the loan

agreement the matter is dealt with

by the notary; the translator was

present to assist and to ensure clear

understanding for everyone involved.

She happened to be an interpreter

of the Russian language, because

it happened to be a man from the

eastern border—a Belarusian citizen.

And the cost of such a translation is

400–450 Polish zlotys, with such an

interpreter listed on the loan agreement, and

subsequently appearing on the notarial deed,

therefore in the wider context of the entire

transaction it is not a large sum of money.

So, in short, the language

barrier is not at all a problem.

That's not a problem.

Another issue: what about the income?

I understand that if this operates on

the same terms as for Poles, then it

would be appropriate for the foreign

person to be paid by a company that

pays them in Poland in Polish zlotys.

Under an employment contract or under

a between-entrepreneurship arrangement

that takes money from clients in Poland,

because later we will show these income

and expenditure books — this is the

set of documents from Polish business

activity — and we will show these

documents, so they must be Polish zlotys.

And if someone has a company in Poland,

which I think happens more often than this

business activity, then there's a bit of a

problem, because a company has a separate

legal personality and creating capacity

for a company in Poland is problematic,

as in most countries around the world.

Besides, all over the world it’s like

this: a permanent contract of employment

is the most important, and perhaps

running a business as a second thing.

So we’ve recorded an episode about building

creditworthiness, and if you understand

Polish well and you move on to that episode

about building creditworthiness on our

channel, there we explain more using the same

conditions under which you’ll get that loan,

so here we don’t need to translate this here.

However, if someone works in Poland but earns

in a foreign currency in dollars, what then?

Well, we have a problem here.

You know, because in the past there were

two banks on the market, Alior and Pekao

S.A., which, without any trouble, carried

out such transactions if someone earned

in foreign currencies, especially if

it happened to be the American dollar.

Now, imagine a situation where only Alior

can actually carry out such transactions and,

in fact, practically deals only in euros.

So this is a problem when we have clients

like these who have come here, find

themselves in a position where, for

example, they speak excellent English,

work in Poland, but for the sake of some

American company that pays them in dollars.

Unfortunately, we will then have to

take all kinds of measures to ensure

that these payments are processed and,

ultimately, settled in Polish zloty.

I once had a case like this, about

six months ago, when there was a

Ukrainian citizen who earned in dollars.

And I said that, unfortunately, there

would be trouble here, and it turned

out that the company actually agreed

to transfer his money in Polish zlotys

in the end, and as long as he works

in Poland, he would be paid in zlotys.

We showed this story; it

worked, so it can be done.

Of course, it will depend on

the employer's approach here.

However, at first glance it would seem that

the matter is easy and perfectly clear,

that we could immediately submit this

application without any delay, of course,

but as it turns out we actually had to

work on it a little more than we expected.

Therefore it is very important to

verify once again: we begin from the

very start, we begin by asking whether

we currently possess this ability.

Only then do we take these actions

aimed specifically at buying property.

And in Poland, in a very simplified

sense, I am someone who has many of my

properties in Poland and in the United

Kingdom to rent, including the ones I

live in, and I’m saying this because I

have taken loans from many Polish banks.

These banks in Poland are large

institutions that have existed for many

years; we do not have such fly-by-night

banks in Poland, such institutions.

I realise that if someone is only

in Poland for a short time, or has

not been here from the start, they

do not know these institutions.

From our experience with these banks,

we've always had only a few of them;

they've always been the same, and they are

proven to be quite reliable firms for us.

And this loan is pretty safe; I say

that with some caution, because you

know anything could happen in the world,

you know how it is, especially you.

They are safe institutions; you can

easily take out this loan today.

Usually it's like this: you pay a twenty

per cent down payment, so if you own

a flat costing a million zlotys, that

means two hundred thousand down, with

eighty per cent financed by the bank.

Mortgages are usually on a variable

rate rather than fixed, meaning the

loan can change with the fluctuations

of interest rates these days.

Now they are clearly lower

than they were before.

Well, right now, it's actually

the most favourable moment in

Poland to take out this loan.

We've also recorded a separate episode

about it; if you're interested, you

can go there, because rates are at

their lowest level in many years.

Most people are now taking

out mortgages these days.

As a result, given that interest rates

had been high, the property market stalled

quite a bit and prices stopped rising.

But now that interest rates have

fallen and more people can take

out a loan, they will start buying

again, as all the statistics show.

Google to see what these

statistics look like.

House prices could rise, and because of

that your monthly cost will be higher;

the loan will be higher; you will need a

higher deposit, so now is really the best

moment if you are thinking about staying

in this country and buying property.

The Polish property market is also

sufficiently liquid that if you buy a

property in a large city such as Warsaw,

Krakow, Poznan or Gdansk, the biggest cities

in Poland, then if you buy a normal flat

in a new block around ten to fifteen years

old—a developer-built block, not an old

block made from Soviet-era panels (let’s

call it that), but a new block—there should

be no problem selling this flat provided

you don’t overdo the renovation or carry

out too large an, too expensive a remodel.

It won’t be a problem to obtain the same

amount that was invested in the flat.

That’s how it looks in Poland; these

flats sell in these new blocks, and

there isn’t a problem with that here.

So I think the transaction is safe,

even if someone decides they want

to leave the country; closing a

mortgage today isn’t a problem.

Simply, if we take out a mortgage on a

given property, as you said, our life

plans can suddenly change, and for example

Ukrainian citizens may wish to return to

their homeland or leave; at any moment

they will be able to sell the flat.

Then the person who buys the flat from

them automatically pays off that loan.

That difference is paid into their account,

and the bank simply agrees to cancel the

mortgage for the new owner, and that’s

really all there is to it, as agreed.

It is very straightforward; there are

basically no restrictions, because

if banks grant us a mortgage loan,

remember, it is entered in Part Four,

that is, it is secured for clarity today.

Meanwhile, we as property owners, regardless

of whether we are Ukrainian or Polish

citizens, retain the right to dispose of this

property at any time, now and in the future.

This is hugely important, because it's

often said that if we take out a loan,

the flat already belongs to the bank.

No, this flat is ours; we have the

right to dispose of this property.

Plus, you can even sell your own property,

meaning you may pass it to your child.

And you don't have to repay this

mortgage—for example, if my mother has

a mortgage and transfers me the flat, I

would repay the mortgage for my mother,

of course, because she would have trouble

if the mortgage isn't repaid, since in

Poland the loan goes with the person,

not with the property, so to speak.

So how on earth can this be done at all

without the bank's consent, you see?

For instance, my mum would own my property

and I would be paying the mortgage for it,

and okay, so basically the worst thing you

can do is put down a very small deposit,

because then we have a high payment today

at current rates, to buy a flat in a

concrete-panel block, which seems cheaper

to us because we'll have trouble selling

it, or do a very expensive renovation, for

which later no one will refund our money.

That's like buying a Mercedes that's bare,

without a radio, or a Mercedes that has all

the features on the price list you find in

the showroom to add later; then no one pays

us back for all these extras—the sunroofs,

radios, etc.—because someone will say, okay,

then you'll take that from me, I don't want

that, I want this basic model, so you must

be careful about that, and that's the deal

... Then it’s safe, and you can indeed enjoy that

property of yours, and as I say, this can be

done by Poles as well; they can do it under

the same terms for Ukrainian citizens alike.

I would here, Paweł, since we’re

in the East, even raise this in at

least two sentences with our other

neighbours as well, namely Belarusians.

This situation is very specific.

Banks are reluctant to lend

to Belarusian citizens.

Of course, political considerations come

into play here, and what is more, the banks

do not officially confirm this; they will,

for example, formally accept an application,

arguing that there is nothing wrong so long

as the residence permit is in place—whether

permanent or temporary—and then, quite

often, it turns out that the decision is,

in fact, a refusal, with an unacceptable

credit score or unacceptable risk.

You know, the bank’s internal regulations

will therefore supply a reason for refusal

even though we still do not understand

what it means or what is going on.

Nevertheless, we know our

position all the same.

So it is very important to note that

there are one or two banks on the

market that do not have a problem with

lending to Belarusian citizens as well.

In practice, this limits access

to credit for Belarusian citizens,

which is a matter of concern.

This has become the standard, so it is very

important that such clients have a chance;

however, if they go to their own bank alone,

they may run into a so-called snag and become

discouraged, saying, we don’t want this.

I think there is one more important

point to mention: the deposit that

must be paid when taking out a loan,

which is usually tens or hundreds of

thousands, now more like one hundred,

two hundred, or three hundred thousand.

And we must ensure that these funds

originate from a legitimate source.

Therefore the people of Belarus know

that transporting these funds is

problematic, so this must also be done

in good time, with greater lead time.

I have repeatedly seen such situations

where the property owner wished to sell

the property, yet someone still had to wait

for the funds to be transported, and to

help ensure compliance and traceability.

Recently we had a transaction like

this, and you know what it looks like.

So it is important to have

these funds in advance.

However, there was a wave of optimism

for everyone who wants to take out a

loan; you simply need an employment

contract, self-employment or running

a business, earnings in Poland,

to have a PESEL, to hold a valid

passport, and to get in touch with you.

And don’t forget the residence card, okay?

As for the residence card, contact

me to talk through the current offers

about all of this—about what we said,

whether this complete package actually

exists or whether something is missing.

Find a property where there is no land

ownership share; if there is one, then apply

for the permit that is granted in Poland,

obtain that permit, and then go through

the entire procedure that you handle.

You don’t take any remuneration for it;

you receive remuneration from the bank,

so you’ve done the service for free;

you get paid by the bank in Poland;

that’s standard; that’s how it looks

everywhere, as we discussed earlier.

If you want to take out a loan, just

contact us; you’ll find the link

to Asia in the description at the

bottom; write to us and take action.

That's right.

Thank you.

If you want to learn more about mortgages,

you'll find more episodes with Asia on

this channel, and there you can listen to

the rest of the topics; and if not, just

arrange a call and get started right away.

Best regards.

Bye.

Hi.