Job Discussion Forums

delphian-domine · Joined: 11 Mar 2011 Posts: 674

Alior are a curious bank, as they're owned by some Italian company who seemingly exist to own shares in European infrastructure companies. I'd steer clear of them too, but then again, they have mopped up with the Alior Sync account.

Polish banks are happy to lend like that for one reason - there's no getting away from the mortgage. The concept of bankruptcy is completely different here, and if you try and run from a mortgage, they can completely ruin you in the process. I suppose in that sense, the risk is far lower for them.

I've got another contact for a mortgage broker for you if you want, he's got experience in arranging mortgages for 1m+ properties, so he might be able to sort you out.

dragonpiwo · Joined: 04 Mar 2013 Posts: 1650 Location: Berlin

Cheers but we've found a good one and we're getting a little house outside Poz stan deweloperski, hopefully this month.

I sent a couple of CVs out yesterday as I think I've decided to go back to the sand next year. Gonna see what happens. I think an academic year in Poland might be a nice break and I'll take it from there. Our jobs are 'safe' in L if that makes any sense.

krokske · Joined: 17 Dec 2012 Posts: 1

Hey Dragonpiwo- This is a shot in the dark but what if you tried to apply for 2 mortgages with the same bank at the same time? One would be the primary mortgage under one persons name (maybe 50-60% Loan-to-value) and the 2nd, subordinate mortgage under the other (maybe a home equity line if they have them here in Poland, 20-30% LTV.) One would be in PLN and the other in USD/GBP/EUR or whatever.

I don't know Polish mortgage guidelines or standards but I wonder if a bank would allow it.

If you're married, you should both be on title anyway. My speculation that they only allow mortgages in the currency you earn is because there is too much foreign exchange rate risk for the bank and underwriting guidelines so this would eliminate it and make it easier to document and qualify earnings for the loan.

Anyway, I'm not saying this would work but maybe it's a loophole the system of some sort...

dragonpiwo · Joined: 04 Mar 2013 Posts: 1650 Location: Berlin

Thanks but basically all the time I earn Sterling and work for a non-EU company, I'll never get any form of credit. My missus will take it and I'll pay it. However, it means we can borrow less.

On the bright side, we've found a new house we like and which is within range

Infinite · Joined: 05 Jan 2013 Posts: 235