Mortgage in PolandJust like any advanced economy Poland has a developed mortgage market with a number of lenders offering a great variety of Polish mortgages. Mortgages in Poland are sold either directly by the lenders or through mortgage brokers. And just like any other developed mortgage market there are big differences in the costs and terms of the Polish mortgages on offer.
Although the interest charged on all Polish mortgages is calculated as a function of the base rate set by the central bank, beyond that mortgage lenders in Poland are relatively free to set the charges and terms of the Polish mortgages they offer. This translates into significant differences between Polish mortgages in terms of their costs and conditions. Not only do Polish mortgages vary in their attractiveness from bank to bank, they also vary considerably within the same bank, and even from branch to branch.
With so many potential lenders, many of which who do not market their Polish mortgage to foreign buyers, it is difficult if not impossible for foreigners to find the best deals on the market. So it is highly likely that you will end up with a relatively expensive and inflexible Polish mortgage that will cost you thousands of Euros more that you need to pay over the lifetime of the mortgage.
Therefore a good Polish mortgage broker, with the experience in helping non-residents to apply for a loan, is an essential member of your team of experts.