What are the advantages of taking out a mortgage in Poland, rather than in my own country?
You are unlikely to be able to secure a mortgage against a Polish property from a bank outside of Poland. Banks are generally unwilling to lend across borders, particularly to a new European Union country. The risks and uncertainties are just too high, and in the case of repossession, your bank would need to deal with an unfamiliar (and potentially costly) legal process in foreign courts. A bank in your home country will, however, lend against your existing property. Refinancing domestic property in order to purchase in Poland is a popular option, however, you will not benefit from the following advantages of borrowing in Poland against Polish real estate: • Borrowing in Poland means you secure the loan against the collateral of your Polish property, increasing your borrowing capacity. • If the loan is in Poland, you can potentially offset the interest repayments against the income of the property in Poland, reducing your income tax liability. • The range of currencies available from P
