Required documents for the mortgage
Getting a mortgage in Poland is not only about testing your creditworthiness and choosing the best offer. Obtaining a mortgage also involves the preparation of relevant and required documents by the bank.
Required documents for the mortgage loan
It is important what bank you choose, deciding to buy a plot of credit for people working abroad and then building a house also from credit it is worth to decide to finance the whole of the loan in one bank.
Having the documents required by the bank is the basis for submitting a complete application. In addition, if we prepare to complete documentation much earlier, we can count on more efficient and faster verification by the bank.
So what documents are needed to submit a loan application?
First of all, these are documents regarding borrowers in person, i.e. documents confirming their identity.
The next required documents are those that confirm our revenues. In this case, depending on whether we receive income from a contract of employment, work, business or if we work abroad, this set of documents the bank will require different. For people working abroad, the set of documents confirming income will be slightly larger.
A separate set of documents if you apply for a mortgage is the documentation regarding the real estate being credited. The bank will be interested in whether the property will be purchased from the developer or on the secondary market. On the other hand, if you are building a house, you will need to provide a quote for building your property. Documents confirming that we will be the owners of the property, i.e. the preliminary contract, are also required. You also need documents confirming who is currently the owner of the property and what is its legal status – a copy of the land and mortgage register is most often used here. Therefore, also the set of documents differs depending on who the borrower plans to buy the property or if he will build it himself.
Required documents when working abroad
To sum up, if the borrower is a Pole working abroad, the following documents are most often required by the bank :
- credit report from a foreign Credit Information Bureau,
- contract of employment,
- permanent residence permit abroad (if required),
- work permit (if required),
- employment and income certificate on a bank print (in English),
- tax returns for the past two years.
Therefore, the documents that are most often required by banks from a person working abroad are very similar to the documentation that a borrower earning in Poland should have.
On banks’ websites, there is usually a tab where you will find the exact list of documents in case you earn income from abroad.
Very often, the borrowers’ most common problem, apart from choosing the best offer, is gathering a complete set of documents that the selected bank requires.