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How to prepare for a mortgage?


Poles are happy to take mortgage loans. The indebtedness of Polish households due to housing loans is small compared to highly developed countries, but the dynamics

Poles are happy to take mortgage loans

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The indebtedness of Polish households due to housing loans is small compared to highly developed countries, but the dynamics of growth is still very high.

However, not everyone is aware that taking out a loan or mortgage is not as easy as getting a credit card or cash loan. It is not enough to just come to a consultant and choose the best offer for your investment and possibilities. Mortgage, which is a commitment very often for a significant part of our lives should be properly prepared. It will very often depend on what conditions and whether we will get such a loan at all.

What do we need to remember

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When we start thinking about crediting the purchase or construction of your dream apartment / house? First of all – current financial liabilities.  You should be aware that almost every financial commitment we incur is recorded in the Credit Information Bureau.

This means that not only the very fact of its existence, but also whether, for example, we have made timely repayment of installments will affect the creditworthiness or conditions (the amount of margin and commission) that will be offered to us by a bank or broker.  Banks sometimes send an application for inclusion in the register of unreliable customers even for several zlotys in arrears or for one late installment. 

If we take the picture that banks draw us in their ads

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We can come to the conclusion that arranging a loan, buying an apartment and then paying off installments is one big idyll and is not a problem for anyone. However, reality often verifies this picture and it turns out that the income of the only earning person on the farm is not always enough to buy, with the help of a loan, a large apartment, a house or not to modernize it.

We should also remember that more and more often we have the opportunity to calculate the creditworthiness of income such as a lump sum, tax card, agricultural activity or income from abroad are much higher from year to year, but not every type of income and not in every bank will be treated similarly. And this means that we will either have to agree to some restrictions on the credit granted (e.g. a limited amount of credit in relation to the value of the property), or on slightly worse financial conditions on which the credit will be granted (e.g. a larger margin or additional insurance).


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