Mortgages In Poland

Find out everything you need to know to get a mortgage in the Poland.

Home Overseas Mortgages Mortgages In Poland
Pete Mugleston

Author: Pete Mugleston

Mortgage Advisor, MD

Updated: April 8, 2024

If you need a mortgage to buy a Polish property, you may wonder what options you have available to fund your purchase.

Here, we explore if UK residents can get a mortgage in Poland and what criteria you’d likely have to meet. We also identify how much you could potentially borrow, how a broker can maximise your prospects and which lenders could be an option for you.

Can UK residents get a mortgage in Poland?

Yes, though to get one through a Polish mortgage provider, you generally need to be earning an income in the Zloty. Polish law requires mortgage loans and income currencies to match. However, if you are making a joint application, and your partner is earning a Polish salary, part of your income from abroad could be considered to increase your borrowing capacity.

You may encounter other restrictions too as a foreigner. Lenders may want you to have a ‘connection’ with Poland which can mean one of the following:

  • Having a Polish partner
  • Owning land in Poland
  • Living in the country

An alternative borrowing option is to get a mortgage in another currency to fund your purchase. There are two main Polish banks that may consider this type of application from foreigners: Pekao bank and Alior bank. They offer mortgages denominated in the following:

  • Pekao bank – Euros, US dollars, British Sterling, Swedish Krona, and Norwegian Krone
  • Alior bank – Euros, US dollars, British Sterling

If neither of the above options are suitable, you could approach an international lender or you could potentially remortgage your own UK home and then buy the Polish property you want in cash – provided you have enough equity to fund the purchase.

Maximise your chance of approval with a specialist in the Polish property market

Getting a mortgage with a Polish provider

To borrow from a local mortgage provider, you will typically need to meet the following criteria:

Credit history – While having a bad credit history won’t automatically stop you from getting a mortgage, it can limit your options. Plus, as a foreigner, you may find that lenders are even stricter when it comes to credit problems. Providers usually prefer no credit issues or problems that were many years ago.

Income and income source – While the more you earn should mean you can borrow more, how you earn is also a consideration for lenders. In general, they prefer regular salaries whereas those applying for Polish mortgages who are self-employed may find their options limited. Banks often prefer to see an indefinite employment contract from foreigners.

Deposit amount – You usually need to have a deposit of between 20% and 40%. You could find a lender willing to accept less, but that will depend on other factors in your application such as income amount or source. A broker who specialises in Polish mortgages would be able to help you identify these providers.

How a broker can help you get a mortgage in Poland

Trying to purchase a home in Poland adds an extra layer of complexity to your mortgage application. Seeking the advice of a specialist broker, so you can take advantage of their experience in buying properties in the country, can be invaluable. Their knowledge can help you decide whether it’s possible to secure a mortgage through a Polish bank or which international lender is an option for you, ultimately helping you to maximise your borrowing potential.

Plus, they can make your application easier, less stressful and more likely to go through – by only suggesting lenders who should extend you a loan. They do so by taking into account your entire financial situation. Their experience will know every lender that is an option for you, which broadens the range from which you can finally choose – especially as many specialist brokers have access to more products than the general public. You can then pick the best competitive rate.

Contact us so we can put you in touch with a broker who specialises in Polish mortgages.

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How much can you borrow?

Lenders who offer mortgages in Poland won’t typically lend above a loan-to-value ratio of 80% so your final amount will be tied to how big a down payment you have. When it comes to income, most providers will conduct an affordability assessment. Generally those assessments ensure that your outgoings, after a mortgage payment, do not exceed 35% of your income.

How much your mortgage will cost

There will be additional costs and fees to factor in, but you can work out the cost of the monthly repayments on your Polish mortgage by using our calculator below.

Mortgage Repayment Calculator

This calculator can tell you the monthly and overall cost of your mortgage, based on the loan amount, interest rate, and term length.

Enter the amount you're borrowing
£
Enter the mortgage rate, 5.5% is a typical rate currently but this can vary
%
Enter the mortgage term, 25 years is the average but lenders can offer shorter and longer terms
years

Your Results:

The monthly repayments on a mortgage would be

The total amount paid at the end of your mortgage term would be

Get started with an expert broker to find out how much they could help you save on your mortgage repayments.

Get Started

Which lenders offer Polish mortgages?

Bank Millennium is just one example of a local bank that could be an option if your salary is Zloty denominated. Or, in addition to the aforementioned Pekao and Alior banks, you could use an international lender such as Santander to help you buy a property in Poland.

With any of these options, the majority of lenders typically charge a higher interest rate for foreigners. As a result of higher rates, your monthly repayments will be more expensive so, to reduce them, you may have to borrow less. You should also consider the type of mortgage you could secure. Polish lenders generally only offer repayment products, not interest-only mortgages.

Speak to a broker who specialises in Polish mortgages

While getting a mortgage to buy a property in Poland is far from impossible, it is tricky to do on your own. Your knowledge of both the local and international mortgage lender market may not be in-depth enough to access the best available product and interest rate for you. That can adversely impact how much you can borrow if you do not secure a loan where you have minimised your interest repayments.

Using a broker with specialist knowledge in Polish mortgages is highly beneficial as their expertise can quickly identify your best borrowing option. They’ll consider every factor in your situation to target the right lender for you, improving your chances of being approved the first time. As a result, they maximise what you can access, while minimising how much you pay back each month.

Our free, no-obligation broker matching service will put you in touch with the right specialist for your Polish purchase. Call us on 0808 189 2301 or make an enquiry with us today so we can connect you.

FAQs

Polish banks don’t typically offer buy-to-let specific mortgages. To ensure that you are getting the right and most suitable loan for you, it’s best to work with a specialist broker who has in-depth expertise in this niche area of the market.

Maximise your chance of approval with a specialist in the Polish property market

About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for Online Mortgage Advisor of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

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