Ukrainians residing in Poland can take advantage of various types of loans, including credit in Poland for Ukrainians, ranging from small microloans to large mortgage loans. However, in order to receive financing from a bank, certain requirements must be met, such as having a stable income and a good credit history. In this article, we will explore the opportunities for obtaining credit in Poland for Ukrainian citizens and the features of the credit intermediary market.
Opportunities for obtaining credit in Poland for Ukrainians
Ukrainians living in Poland have access to various types of credit that can significantly improve their financial situation. One of the most popular options is consumer loans, which can be obtained to cover various needs, such as purchasing goods, paying for services, or traveling. These loans typically have a shorter repayment term compared to mortgage loans and can be obtained without collateral. However, to obtain a consumer loan, it is necessary to have a stable income and a good credit history.
For those planning to purchase property, mortgage loans become the most attractive option. Mortgage loans in Poland can be obtained for a long term, often up to 30 years, allowing the cost of purchasing property to be spread over many years. To obtain a mortgage loan, it is usually required to have a certain percentage of personal funds, as banks rarely provide loans for the full value of the property. Additionally, having a stable job and a good credit history is important, as it significantly increases the chances of loan approval. Ukrainians who have permanent residence in Poland and the appropriate status (e.g., the Pole’s Card or permanent residency) have better chances of obtaining a loan compared to temporary migrants.
The choice of credit type depends on the financial needs and capabilities of the client.
Mortgage credit in Poland – for whom and for what purposes?
Mortgage credit in Poland is available for those who plan to purchase a home or invest in real estate. This type of credit is suitable for individuals with a stable income and a good credit history. Mortgage credit often requires a certain amount of personal funds, but it allows the cost of purchasing a home to be spread over many years. Ukrainians who have permanent residence in Poland and the appropriate status have better chances of obtaining such a loan.
- For those planning to purchase property: Mortgage credit is suitable for individuals who want to buy their own home.
- For investors: It can be used for real estate investment.
- For those who want to renovate their property: A loan can be obtained for the repair or reconstruction of an existing property.
What purposes can a mortgage loan be used for?
A mortgage loan in Poland can be used for various purposes, ranging from purchasing a home to investing in real estate. This type of loan allows the costs of purchasing property to be spread over many years, making it attractive for those planning to buy their own home.
In addition, a mortgage loan can be used for the repair or reconstruction of an existing property, allowing clients to improve their home according to their needs. For investors, a mortgage loan is also an attractive option, as it allows the purchase of additional property for further rental or resale.
Also read: Step-by-step mortgage – a practical guide for everyone.
The mortgage brokerage market in Poland: what you need to know.
The mortgage brokerage market in Poland is regulated by strict rules aimed at protecting consumer rights, including those who have come from Ukraine. One of the key players in this market is Entremise. Our specialization is in mortgage loans. We help clients find the best offer in the financial market, gather the necessary documents, and negotiate the most favorable terms of the loan agreement.
We provide transparent terms and support for clients at every stage of the credit process. What sets us apart in the market is smooth communication with clients from Ukraine. We communicate with them in their native language without any problems, which ensures that there are no misunderstandings or mistakes in interpreting the speaker’s words during our cooperation.
We offer clients the opportunity to compare different credit offers and choose the option that best suits their financial capabilities and goals. Additionally, Entremise experts assist clients in preparing documents and provide support regarding the terms of the loan, including interest rates, fees, and repayment conditions.
Thanks to our knowledge, attention, and experience, clients can avoid financial risks and obtain a loan on the most favorable terms.
How to choose the best financial offer?
Choosing the best financial offer for obtaining a loan in Poland requires a thorough analysis of the market and understanding the terms of each offer. Loan experts can significantly assist in this process by providing professional advice on selecting the optimal loan program. They can help clients compare different offers, taking into account interest rates, fees, and repayment terms, to choose the option that best suits their financial capabilities and goals.
Additionally, experts can help clients understand all the terms of the loan, including any hidden fees or requirements that may be present in the loan agreement. This is especially important for foreigners who may not be familiar with all the nuances of Polish lending legislation. By using the services of experts, clients can avoid financial risks and obtain a loan on the most favorable terms.
Credit banks in Poland
Banks in Poland offer a wide range of credit services for new clients, including Ukrainians. Many large banks have lending programs for foreigners. These banks often provide services with support in the Ukrainian language, which makes the process of obtaining a loan easier for Ukrainians.
To obtain a loan from one of these banks, you need to have certain documents, such as a passport, residence card, and proof of income in Poland. Banks may also require proof of registration address in Poland and an active bank account where your salary is deposited.
For example, banks such as Alior Bank, BNP Paribas, BOŚ Bank, Citi Handlowy, Credit Agricole, ING Bank Śląski, Bank Millennium, mBank, Bank Pekao SA, and Santander Bank Polska offer a variety of loan programs for foreigners. Ukrainians can choose the bank that best meets their needs and financial capabilities.
Safety and protection of borrowers
The safety and protection of borrowers in Poland are ensured by legislation that regulates the lending market. Credit institutions are required to be transparent about the terms of the loan, including interest rates and fees. Additionally, clients have the right to protect their interests in the event of a breach of contract terms.
An important aspect of borrower protection is the adherence to requirements regarding the credit history and financial stability of clients. This helps to avoid excessive lending and financial risks.
The process of applying for a loan in Poland
The process of applying for a loan in Poland consists of several stages. If you plan to purchase property in Poland and obtain a mortgage loan, it is important to be aware that the entire process consists of several systematic stages.
- Choosing property and a loan offer: The first step is to choose a property and a loan offer that fits your needs. This stage requires a detailed analysis of the real estate market and available loan offers. When selecting property, factors such as location, technical condition, price compared to the market value, and investment potential should be considered.
- Preparing documents and submitting the application: Each step should be approached in detail, so the next step is to prepare the documents and submit the loan application. For this, you need to gather documents such as a passport, proof of income (PIT for the last few years), bank account statements for the last few months, a preliminary property purchase agreement or a reservation agreement (for the primary market), as well as documents confirming the availability of personal funds.
- Creditworthiness check: The bank conducts a detailed assessment of the client’s creditworthiness, considering the amount and stability of income, existing financial obligations, credit history in the Credit Bureau, age, and family status. This assessment consists of several stages: preliminary, financial-personal, legal, and real estate.
- Signing the loan agreement and transferring ownership: After the positive review of the application, the client signs the loan agreement, and the property ownership is transferred. This stage requires careful examination of the terms of the agreement, including the interest rate, payment schedule, additional fees, and conditions for early repayment of the loan.
- Registration in the property register: The registration of the mortgage in the property register consists of two stages: the physical submission of the application and the registration after the loan is issued. This step is necessary to ensure the security of the bank and is a condition for granting the loan.
- Property acceptance: The final stage is the official acceptance of the property. In the case of purchasing from a developer, this involves an inspection of the property to ensure it meets the terms of the contract and the project, preparing an acceptance protocol, and reporting any possible defects for repair.
Overall, the process of obtaining a mortgage loan is complex and requires time and effort. However, with the right approach and expert support, many risks can be avoided, and a loan can be obtained on favorable terms.
Mortgage credit experts can significantly assist clients at every stage of this process. They help choose the best loan offer, negotiate favorable terms, and gather the necessary documents for obtaining financing. If you don’t feel confident in this process, the best solution would be to seek professional support.
Document requirements:
To be able to apply for a mortgage loan in Poland, Ukrainians must have certain documents. These include:
- Passport: A valid Ukrainian passport. This document is required to confirm identity and citizenship.
- Residence card: A permanent or temporary residence card in Poland. This card confirms the legitimacy of your stay in the country and is required to obtain a loan.
- Registration address: The registered address in Poland. This information is required to confirm your place of residence and is necessary for obtaining a loan.
- Proof of income: Documents that confirm a stable income in Poland, such as a pay slip or an employment contract. These documents must demonstrate the client’s financial stability and ability to repay the loan.
- Bank account: An active bank account in a Polish bank where the salary is deposited. This account is required to confirm the source of income and to make loan payments.
These documents are required to confirm financial stability and the legitimacy of staying in the country. Additionally, banks may require other documents such as recent bank account statements, a preliminary property purchase agreement or reservation agreement (for the primary market), as well as documents proving the availability of personal funds.
It is also important to note that all documents must be in order and meet the bank’s requirements. Credit experts can assist clients in preparing the documents and ensuring their compliance with the bank’s requirements, which significantly increases the chances of loan approval.
Tips for Ukrainians applying for a loan in Poland
For Ukrainians who plan to get a loan in Poland, there are some practical tips:
- Preparing documents: Gather all necessary documents, including your passport, residence card, and proof of income.
- Choosing a bank: Choose a bank that offers terms that meet your needs.
- Analyze loan terms: Carefully study interest rates, fees, and repayment terms.
- Consultation with experts: Use the services of lending experts to select the optimal offer and prepare documents.
These tips will help increase your chances of getting a loan approved and avoid financial risks.
Summary
Getting a loan in Poland is a real possibility for Ukrainians if they meet certain requirements and have the necessary documents. The choice of loan type depends on the financial needs and capabilities of the client.
It is important to be aware of the terms of the loan and use the services of experts to choose the best offer. In addition, compliance with legislation on the protection of debt collectors ensures safety and transparency in the lending process.
Have questions? Contact our lending expert.
As experts in mortgage loans for Ukrainians in Poland, we can guarantee that our team is ready to provide professional assistance in the process of obtaining a mortgage loan. Our knowledge and experience allow us to help clients choose the best loan offers, negotiate favorable terms and prepare the necessary documents. If you have any questions or need support in this area, please contact us.
Legal clause:
The material is for informational purposes. Entremise acts as a credit intermediary under Article 4, paragraph 1, item 8 of the Act of March 23, 2017, on mortgage credit and supervision over mortgage credit intermediaries and agents (Dz.U. 2017 item 819). We do not provide financial consulting services as defined by financial consulting legislation. Detailed terms of cooperation are available in the regulation of the provided services.
