When to apply, How to apply, What to consider - Polish Mortgages
Tip 1 . It costs nothing to apply so do it early
You are looking to buy a property but will require a mortgage. Well, before you even start looking the first thing you should do is to find out how much you can borrow. Seems obvious but lots of people leave this too late and find themselves rushing with applications at the last moment.
Tip 2 - You don't need a hard Mortgage offer but you should have a ballpark idea before you begin
It can all be a little chicken and egg as the bank will not confirm how much until they know about the property and of course you don't know which property until you know how much you can borrow.
Obviously, signing a preliminary agreement with the seller and paying the non-refundable 10 % deposit can be daunting without an actual guarantee from the bank so do what you can now to avoid this predicament.
Tip 3 - Don't apply to all banks yourself, it may damage your borrowing ability
It's a long time since relationships between a bank and their customer had any importance and these days it is a simple numbers game so applying to every bank would seem to make more sense. But did you know that this can currently hurt your chances of success?
At present, the rating agency used by all banks will reduce your credit rating if you are seen to apply to more than three banks, Daft, I know, but there you go.
Tip 4 - Use a qualified professional Advisor - they're free and can only help
This makes it even more important that you employ the services of a qualified independent Credit Advisor. They earn commission from the bank so there is no charge to you for their work. A good Advisor should be able to assess your situation quickly and give you good guidance on how much you can expect to borrow. Additionally they will also be aware of which banks would be more interested in lending to you, thus increasing your chances of success.
Tip 5 - Be aware of the ancillary costs when budgeting
When budgeting, be sure to include the valuation and arrangement fees that can be anywhere between 1-3 % of the loan amount.
Tip 6 - Not using BigDoor24 can actually cost you money !
And don't forget, by requesting contact with an Advisor through BigDoor24.pl, you will receive cashback once your Polish mortgage is activated, (i.e zl. 200 per zl. 100k borrowed).
Additionally, by simply registering with BigDoor24.pl, you will receive a personal referral code. Every time you refer us you to a successful applicant you will get a zl. 250 Thank you voucher.
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