<h2>Getting a mortgage for a Polish property<\/h2>\r\nAs UK property prices continue to soar, we\u2019re regularly approached by customers who are looking to get a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/">mortgage for a home overseas<\/a>. Considering the cost of living is a fraction of the price it is in the UK, it\u2019s not surprising that some Brits are looking to invest in Polish property. It can be a lot easier than you think when you get the right advice from one of the expert advisors we work with.\r\n\r\nThis article will be explaining how to get a mortgage in Poland, what to consider before deciding on a Polish or UK mortgage, and other key information you need to know when buying a property abroad.\r\n<ul>\r\n \t<li><a href="#can-i-get">Can I get a mortgage in Poland?<\/a><\/li>\r\n \t<li><a href="#polish-vs-uk">Polish vs international mortgage for properties in Poland<\/a><\/li>\r\n \t<li><a href="#why-seek-professional-help">Why seek professional help when buying overseas?<\/a><\/li>\r\n \t<li><a href="#polish-mortgage-rates">Polish mortgage rates<\/a><\/li>\r\n \t<li><a href="#other-factors-impacting">Other factors impacting eligibility for Poland mortgages<\/a><\/li>\r\n \t<li><a href="#credit-history">Credit history<\/a><\/li>\r\n \t<li><a href="#personal-vs-commercial-polish">Personal vs commercial Polish mortgages<\/a><\/li>\r\n \t<li><a href="#speak-to-polish-mortgage">Speak to a Polish mortgage expert<\/a><\/li>\r\n<\/ul>\r\n[feefo-banner]\r\n<h2 id="can-i-get">Can I get a mortgage for a property in Poland?<\/h2>\r\nThe short answer is yes, it may well be possible to buy a house in Poland as a UK resident or British expat.\r\n\r\nSince Poland joined the EU in 2004, it has become easier to get a mortgage in Poland as a foreigner living within the EU. At the time of writing, we\u2019re yet to see how Brexit will impact this.\r\n\r\nThe Polish mortgage market is booming, with new housing popping up all over the country - and many Brits are jumping at the chance to buy. As such, the Polish mortgage advisors we work with are becoming increasingly adept at negotiating with overseas buyers.\r\n<h2 id="polish-vs-uk">Polish versus international mortgages for a property in Poland<\/h2>\r\nIt's theoretically possible to get a mortgage for a Polish property from either a lender in that country or an international mortgage provider who has a presence in the UK. As a general rule, it is easier to have your mortgage in the same currency as your income, but there are exceptions.\r\n\r\nFor example, if you\u2019re a British expat seeking a mortgage in Poland, it may make more sense to borrow from a Polish bank. For more information on expatriate mortgages click here, or <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-an-overseas-specialist\/">make an enquiry<\/a> and we\u2019ll refer you to a specialist.\r\n<h3>Getting an international mortgage for Polish property<\/h3>\r\nFor UK buyers who intend to continue living and working in their home country after buying their Polish home, a UK mortgage broker who can introduce you to the right international lender might be the best option.\r\n\r\nThere are several reasons for this:\r\n<ul>\r\n \t<li>You are likely to have access to a wider choice of mortgage products and more competitive interest rates if you borrow from your own country.<\/li>\r\n \t<li>If you\u2019re after a speedy completion, the process is typically quicker than it would be if you were applying through a Polish bank as a foreigner<\/li>\r\n \t<li>You have the option to remortgage your existing home and buy your Polish property with cash.<\/li>\r\n<\/ul>\r\nHaving a mortgage on Polish property using a foreign currency means your payments will fluctuate unpredictably - an international mortgage means you have exchange rate protection.\r\n<h3>Getting a Polish mortgage as a UK resident<\/h3>\r\nThe choice of mortgage products available in Poland are more limited than in the UK, especially for non-residents. What\u2019s more, foreign buyers may receive less competitive rates than residents due to being higher risk.\r\n\r\nIn terms of lender requirements, there are many similarities to the UK. Most providers loan up to 60-80% loan to value (LTV), and most <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-affordability\/">affordability<\/a> assessments stipulate that your outgoings must not exceed 35% of your income.\r\n\r\nHowever, full repayment mortgages are the only option in Poland; <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/interest-only-mortgages\/residential-interest-only\/">interest-only<\/a> plans are only available for a home loan secured on a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/new-build-mortgages\/">new build<\/a>.\r\n\r\nAnother consideration will be that you may have to pay for documents to be professionally translated from Polish to English and vice versa which would add to the cost.\r\n\r\nIf you\u2019re still undecided whether to opt for an international or Polish mortgage, <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-an-overseas-specialist\/">contact a whole-of-market broker<\/a> to be referred to an <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/international-mortgage-broker\/">overseas mortgage specialist<\/a> to discuss your options.\r\n<h2 id="why-seek-professional-help">Why seek professional help when buying overseas?<\/h2>\r\nWhether you select a UK or Polish provider, getting a mortgage abroad will always be more complicated than buying in your own country. Before proceeding with any mortgage, ensure to seek legal advice from a solicitor who is independent of the seller, the developer and estate agent.\r\n\r\nIf you opt for a Polish mortgage broker, bear in mind that contracts and other official documentation will be written in Polish. It is strongly advised that you use a solicitor who is fluent in both languages to help you during the mortgage process.\r\n\r\nIf you appoint a UK legal firm, check that they\u2019re registered with the Law Society in the UK and specialise in international transactions and property conveyancing.\r\n<h2 id="polish-mortgage-rates">Mortgage interest rates in Poland<\/h2>\r\nFor access to the most competitive Polish mortgage rates, contact a whole-of-market broker who has access to high street lenders and specialist overseas mortgage providers.\r\n<h2 id="other-factors-impacting">Other factors impacting eligibility when buying a property abroad<\/h2>\r\nAside from being able to prove your affordability and having enough deposit to satisfy your lender, there are a few other factors all mortgage providers will consider before authorising an application:\r\n<h3 id="credit-history">Credit history<\/h3>\r\nAll lenders will assess your credit history, as some have very strict rules surrounding what instances of adverse they will or won\u2019t accept. Others are more interested in how recently the issue occurred.\r\n\r\nVisit our <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bad-credit-mortgages\/how-to-get-a-mortgage-with-bad-credit\/">bad credit mortgage<\/a> section for more information on this.\r\n<h3 id="personal-vs-commercial-polish">Personal versus commercial mortgages in Poland<\/h3>\r\nIf you\u2019re getting a Polish property for residential purposes (such as a holiday home), you would apply for a standard residential mortgage. However, if you\u2019re borrowing for commercial purposes it\u2019s a different ball game.\r\n\r\nCommercial mortgages allow you to borrow far more money on a secured basis, but you will be required to put down a far larger deposit. They also differ in terms of criteria, affordability and how they are assessed.\r\n\r\nFor more information, visit our <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/commercial-mortgages\/">commercial mortgages hub<\/a> or<a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-an-overseas-specialist\/"> make an enquiry<\/a> to speak with a specialist business mortgage broker.\r\n<h2>Why you should speak to a whole of market Polish mortgage advisor if you\u2019re getting a mortgage in Poland<\/h2>\r\nWe\u2019ve helped countless people find the right international mortgage across all parts of Europe including Poland, even for buyers who have been <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-application\/refused-for-a-mortgage\/">declined a mortgage<\/a> or had bad credit history.\r\n\r\nIn fact, our customers consistently rate us 5 stars on Feefo, mainly due to our high levels of service, but also because we offer offers a 5-star service with access to expert brokers who are:\r\n<ul>\r\n \t<li>Whole of market.<\/li>\r\n \t<li>Can offer bespoke advice to buyers of overseas mortgages in Poland.<\/li>\r\n \t<li>Have a working relationship with all lenders, including those who offer international mortgage services.<\/li>\r\n \t<li>Already know the lenders to go to as they have already successfully arranged mortgages in Poland.<\/li>\r\n \t<li>Are OMA Accredited advisors.<\/li>\r\n \t<li>Have completed a 12 module LIBF accredited training course.<\/li>\r\n<\/ul>\r\n<h2 id="speak-to-polish-mortgage">Talk to a Polish mortgage expert today<\/h2>\r\nIf you like what you\u2019re reading or require more information on mortgage loans in Poland, call Online Mortgage Advisor on 0808 189 2301 or <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-an-overseas-specialist\/">make an enquiry<\/a>.\r\n\r\nThen sit back and let us do all the hard work in finding the broker with the right expertise for your circumstances. We don\u2019t charge a fee, and there\u2019s no obligation or marks on your credit rating.