Would be grateful if someone that has been down the Polish mortgage route could give some sort of indication as to the total costs involved. Costs as I see them are:
- Bank fee, 2% for PLN mortgages
- Solicitor/POA fees (signing docs, providing an address etc).
- notarisations
- translations

Are there any others and how much should expect to pay for those listed above?

Many thanks.

Good morning,

In response to your questions, I have listed a few options from different banks that can be used though one of our recommended brokers.

These are based on a property value of 100,000 and are obviously subject to valuation differences. 100,000 is used purely for example.

Bank fee's are usually between 1.5% and 1.8%, which according to current data, can be added to the loan.

Fee's that include, registration of mortgages, land and real estate register can vary between 2,300.00 and 2000.00. Fees that include legal and notary work, address and POA can be anywhere from £600 upwards, depending on who you use..

These amounts are pure examples and are based on values of 100,000 and can vary according to the particular deal as each bank has fixed fee's and and percentage rates for some parts of the legal process.

The best way to get an idea of rates and fees would be to contact one of our brokers in Poland to discuss the different stages and options.


http: / /www .propertysecrets .net /mortgage -quote .html


Click the link and select Poland. Options for either Noble Bank or redNet Finance will appear and you can contact them through this page.

I hope this information is of use to you.

Regards,

Lee O'Connell

Thanks for that Lee. I find it hard to believe the charges on Polish loans!

Do you happen to know what sort of LTV I could expect given that my apartment completed 6 months ago , the purchase price was £50K and is now valued at ~£100K. I have heard that the banks will rely strongly on the purchase price rather than current market value.

You may just want to factor in the odd extra 12 hundred pounds which I've just been charged in penalties on my Garden Heights completion due to incompetence and miscommunication by all parties concerned....... The solicitor has agreed it was "through no fault of my own" ha....ha......

My advice.... leave the Polish property market.

...and yes I am bitter and twisted!!!