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Mortgage prices in Poland



braziliiThreads: 8
Posts: 103
Joined: Mar 14, 08 		  Jun 6, 08, 04:15 /  #
Does anyone know the average mortgage price in Poland? I`m paying 7% and was told it`is way too much.
Thanks
andy bThreads: 7
Posts: 195
Joined: Nov 26, 07 		  Jun 9, 08, 04:42 /  #
Does anyone know the average mortgage price in Poland? I`m paying 7% and was told it`is way too much.
Thanks


Well, it depends which currency the mortgage is in....

In Poland, most banks will give you the choice of denominating the mortgage in a range of different currencies, all with different interest rates.

Most mortgages are variable and based on a LIBOR 3mth interbank rate (or EURIBOR, WIBOR for złoty):

Currently, here are the base rates for the different currencies:
PLN 6.57% (Polish zloty)
EUR 4.85% (Euro)
USD 2.68% (US dollars)
GBP 5.86% (British Pounds)
CHF 2.77% (Swiss Francs).

To this, the bank offering the mortgage will add it's margin.
A competitive margin in Poland will be around 1%, an uncompetitive margin will be up to 3-4%.

So the question is, how much is the margin on your mortgage, and that will tell you if you are paying too much...

More info:
poland-mortgage-direct.com
braziliiThreads: 8
Posts: 103
Joined: Mar 14, 08 		  Jun 24, 08, 05:53 /  #
Thank you!
TamaraThreads: 11
Posts: 218
Joined: Mar 1, 07 		  Jun 24, 08, 08:47 /  #
Related question - my husband was born in Poland but doesn't live there, I am an American citizen. Can we get a mortgage for purchasing an apartment in Poland for rental purposes?
andy bThreads: 7
Posts: 195
Joined: Nov 26, 07 		  Jun 24, 08, 16:19 /  #
Related question - my husband was born in Poland but doesn't live there, I am an American citizen. Can we get a mortgage for purchasing an apartment in Poland for rental purposes?


The answer is yes. Whilst it can be a benefit for non-resident mortgage applicants to have Polish citizenship/passport, it is not the most important factor. What matters most is the applicants' financial position - size of salary, liabilities etc.
TamaraThreads: 11
Posts: 218
Joined: Mar 1, 07 		  Jun 24, 08, 22:16 /  #
Thank you.
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