Mortgage in Poland for foreigners

Mortgage in Poland for foreigners – who live and work abroad in Poland and  for foreigners – who live and work abroad.

If you’re here, you’re probably a foreigner who lives and works abroad and you want to buy a property in Poland. Getting a mortgage in this case might get complicated. Luckily, we’ve gathered all the important information concerning getting a mortgage in Poland. If you want to learn more, read our article. 

Getting mortgages in Poland – information for foreigners.

According to the Act on Mortgage Loan and Supervision over Mortgage Brokers and Agents, the loan has to be in the currency of your income. For example, if you live and work in the UK, you can apply for a loan in GBP, if in France, then in EUR, etc. The same applies to people with Polish citizenship who get paid in other currency than PLN. This rule is supposed to protect people from fluctuating exchange rates.

There are only a few banks in Poland that offer loans in foreign currency. Each bank not only has its own specific offer, but also different foreign currencies available. If you get your income in other currency than these banks offer, then unfortunately you can’t get a loan. It was different a few years ago, when Polish banks offered loans in various currencies, but the financial crisis put an end to this. Now, only a limited number of banks offer these loans and they do that in a limited number of currencies.

What do I have to do to apply for a mortgage loan in Poland?

Apart from the currencies, there are other aspects that you need to know if you would like to get a mortgage in Poland. First you need to have a PESEL number (Polish Powszechny Elektroniczny System Ewidencji Ludności, Universal Electronic System for Registration of the Population). It’s the national identification number that will get assigned to you, if you register your residence. If you can’t do that, you may also apply for a PESEL number with any municipality/township office. Bank can ask about the registered address – you can register at the address of a place where you stay on the basis of a signed lease agreement. 

The main thing is to work in Poland, pay taxes here, or receive incomes in Polish zloty. What is quite important is that you can be self-employed if – just like I pointed out before – you pay taxes here. You don’t need to have a Polish spouse to apply for a mortgage, and if you are a EU citizen, you aren’t blocked from choosing the property you are buying. More about purchase options I will write in the next article.

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