Income abroad and credit in Poland

According to the Central Statistical Office, over 2 million Poles already work outside our country. Do we have a chance to take out a cash or mortgage loan in Poland while working abroad?

Unfortunately, when it comes to loans for people working abroad, the Polish banking services market is not very friendly to potential customers. In practice, very few banks offer cash or mortgage loans to people earning in a different currency. The reason for this is Recommendation S issued by the Polish Financial Supervision Authority in 2014, according to which banks operating in Poland may grant loans only in the currency of the client’s permanent income (the recommendation is a consequence of the turmoil in the Swiss franc loans market – a loan boom in this the currency was 2006–2009). By not providing loans in foreign currencies, banks try to minimize the risk associated with changes in their exchange rates.

US Dollar loan

While the hopes of getting a loan can be earned by those earning in euros (due to the fact that it is the currency for transactions with most European countries, and mortgages in euros are the most on the market), then the chances of people with a salary in pounds sterling , dollars or Norwegian kroner fall to almost zero.

The first thing to do is to get a good idea of ​​which banks offer mortgage or cash loans in foreign currency. If we can find a potential lender, complete the following documents:

· Contract or contract (including seafarer’s contract);

· Income certificate – in addition to employment contracts and contracts, these can also be pensions, but not your own business (except for doing business in Germany – in this case you can get a loan from banks with German headquarters);

· List of payments to a bank account in the last three months;

· A report from the local credit information bureau, i.e. the equivalent of the Polish Credit Bureau (see summary at the bottom of the article).

Document translation

It is worth knowing that in the case of a contract or contract, the bank may require a translation of the documents which must be done by a sworn translator.

The solution to this problem may be applying for a mortgage in PLN together. However, you have to remember that in this case For many reasons, this is not a solution for everyone.

There is also a solution that could be called emergency. Namely, we can apply for a mortgage or cash loan in PLN together with another person who earns in Poland, e.g. a parent or sibling. With this option, it should be remembered that the salary of our PLN co-borrower will be the key, and creditworthiness will be associated with them.

It is difficult to get a loan for people working abroad

To sum up, loans for people working abroad in the Polish banking industry are rare. Only a few banks offer such loans, which is connected with the necessity to grant loans in the currency in which the borrower earns. Even if the customer finds a satisfactory offer, he will have to face a number of formalities and provide extensive documentation. Therefore, a solution may be to take a loan in PLN with another person for whom he earns in the Polish currency.

Garry Ludge and people working abroad

credit debt

What is the situation with obtaining a loan at the Ratkomaty by people with income outside of Poland ? Unfortunately, we don’t have the best news. As we provide in the conditions for obtaining the loan, the client applying for financial assistance in Garry Ludge should:

– be between 20 and 80 years old,

– not to be in the BIG debtors register (InfoMonitor, ERIF),

– have a permanent home address in Poland,

– have stable income in Poland (due to employment contract, pensions, old-age pensions).

It is important for us that the borrower has a permanent address in Poland as well as documented income in our country. These are the basic criteria for granting a financial commitment.

How to get a loan for an apartment in Poland?

Are you interested in a loan for an apartment in Poland, but currently you only have income from abroad? Currently, many people are thinking about buying a flat in Poland, while still staying abroad. Many people left to earn a better life, but after a while they want to go back to the family and build their own house or apartment. What if, however, they need a loan to finish their dream four corners? How is credit in Poland working in the UK? Different banking institutions offer different types of products. You need to take a good look at everything and find the right one that suits your needs and capabilities. In some banks, borrowers have the option of taking loans for people earning abroad. Is a mortgage loan for earnings in England possible? Sometimes it happens, but in most cases banks take into account the possibility of taking a loan for an apartment, when the client’s employers make monthly transfers to a bank account in Poland. It is also best for people applying for a home loan to be employed under an indefinite employment contract. People who have their own business and work outside of Poland may have a slightly difficult task. However, we should remember that if we can find a suitable financial institution that will grant us a loan for an apartment, if we earn abroad, we will need to translate the documents into Polish.

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