Hi -

I applied direct through Noble bank a few months bank for my Cotton Mill development. Josef at the bank was very efficient, answered all emails etc and I got an offer within around 4 weeks. Like you, I am employed so it was quie straightforward.

That was before the crunch, but I'd recommend trying them direct. I'm not sure if the rate I was offered was competitive, because by the time the offer came through the develpment timing was pushed back so now I'll have to go through another application some time next year!

Good luck.

Hi Gooders,
this is a realistic option. Where are your units? My pressing concern is a unit in Galleria Park II which I think I paid at the high for anyway!
Be interested to hear.
Cheers
Ant

I'm in the same boat (with Galeria Park II) and Nobel/Metro are not being very helpful. I may have to buy the unit with cash (that I'd rather not tie up with property in Poland).

I was interested to ask in anyone has ever managed to raise a mortgage in Poland on a unit they brought with cash? I read an article from PS which seemed to indicate that "refinancing" might be possible in Poland. If this might work then I can pay with cash now and then release that with a mortgage later when this crunch finally dies down.

I was also interested to read that SCF (in Prague) deal with mortgages in Poland. This seems rather strange!? I might try them...

NCGray,

Make sure you do your homework before you take this route. I bought in Slovakia with cash on this assumption and only later discovered that it would not be possible.

Hi Ant

I'm not sure how you send me a PM either.

DJ

Dear Anthony, Dear Gentlemen,

Star Capital Finance started organizing mortgages for its clients in Poland in September 2007. In the last 14 months we could see some development in the banks' perspective on lending to Expats. Being active in the Czech Republic and Slovakia we could also see the difference in approach banks take in Poland.

Just as anywhere in CEE in Poland the banks also either stopped or slowed down its lending significantly.

Applying for a mortgage takes time and I am happy to help. If you are interested please kindly contact me at my mobile 00420 776 348 606 or via e-mail. I am in Warsaw every month I will be happy to look after this personally.

Kind regards

Josef Malir
Managing Partner at Star Capital Finance

hi guys,

can anyone who has bought property in poland in the past year or two give me an idea of an averagei mortgage rate?

thanks.

4.15 CHF mortgage with Millennium.

Think Zloty mortgage a re around 7-8%.

I would go euro if the option is available.

thnaks, for the info. i got a mortgage in chf but at a rate of 6.7%. it is really unbeievable the price . i wasnt so experinced in morges when i set out to get this apartment. the repaments are apporx 1100 eur per month over 25 years. unfortuantely i didnt shope around. however. i am just wonderin as the wages lower in poland, how the average salaried polish person can afford such a mortgge, or is it possible that mine is so expensive cos im a forienger? would appreciate more info if anyone has some!! thanks

Hi ant ,
I am also looking at defaulting on a property in Oak terraces katowice as due to personal circumstances cannot afford to complete. I know I am not the only one. I have tried to find offers through i property assets but thats not been successful at all due to ???????. Also looking at doing a give away offer if someone interested.

For more info on morgages etc could look at polishforums.pl under real estate section...

I would have liked to complete as I think its a good development but needed more time.

Cheers
mark