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Mortgage loan and apartment for foreign student



Where to go to get a mortgage and purchase an apartment? Not only Polish people ask themselves this question. Many foreigners who continue living in our country, who come here to study and decide to stay, ask this question too.


As the Department of Education states, out of 23 thousand foreign students in our country, 6 thousand declare Polish origin or nationality. Each year there are more and more students form abroad. This upward trend is also reflected in the statistics registered by GUS (Central Statistical Office). In 2007/2008 there were 13.7 thousand foreigners registered at Polish universities, in 2008/2009 – 17 thousand, and 2010/2011 – over 19 thousand. These statistics may not be comparable to Czech or Hungarian, but still the fact that the number of foreign students in our country increases may be found optimistic.


As the GUS’s statistics state, the majority of foreign students come from Norway and Sweden, and Ukraine and Belarus. For all this groups Poland is an attractive destination form the economic point of view, and – first and foremost – because of the quality of education. That is why we may boldly assume, that some of them may see their future in our country and will stay here longer than a regular academic period – they will pursue occupations and start families.


Students – especially those from more affluent countries – will be eager to rent or even purchase an apartment in order to feel more independent while studying here. After finishing their education, they may continue living there, or consider it an investment and rent it. Thus, a complex real estate-related services are required.


Such services are provided by portal and office, where foreigners may find a number of apartment offers – both from primary and secondary market – prepared especially for them – says Romuald Margol, CEO General Director of


Let’s take a studio apartment which may be particularly interesting for students – it is located in Wrocław near Rondo Powstańców Śląskich and its total area is 35 sq. m; cost of purchase  PLN 200 000.00. Sfera-Finansó portal prepared an overview of mortgage loan offers from 5 different banks. Offers were prepared in compliance with the following: the mortgagor pays a deposit of 20 per cent of the property value, the mortgage loan of PLN 160 000.00 is payable in 30 years (fixed installments calculated for a person with PLN 5000.00 net monthly income).


Provided that the purchase of a real property is to be financed with a mortgage loan, one should be aware of the fact, that banks may be reluctant to grant a foreigner a mortgage loan for 100 per cent of the property value. Usually, the bank will require the payment of deposit in the amount of minimum 20 per cent of property value as a collateral – says Rafał Tomkowicz, President of Board of Sfera Finansów SA.


Banks do grant foreigners mortgage loans for properties located in Poland. It is impossible, however, to have property located here financed with a mortgage loan contracted abroad, due to possible problems with collection of the outstanding debt of the mortgage.

In order to qualify for a mortgage loan, a foreigner needs to hold a Polish Residence Card, and file a loan application together with the following documents:


(1) employment contract/managerial contract,

(2) certificate of current income,

(3) counterpart of a Polish PIT Tax Return.


It is important to remember, that all the documents shell be translated into Polish by a sworn translator.

While thinking about a mortgage loan, one should also bear in mind, that a person who earns and declares income in Poland is likely to obtain a mortgage faster, as their application documents are processed in the same way as application filed by a Polish citizen. In case of having income earned outside Poland, the application will be considered individually, as it will be regarded high-risk. Thus the longer processing period.


Upon selecting the mortgage loan offers directed to foreign clients, is may be helpful to use the assistance of a professional financial advisor, as a given offer may often serve merely as an advertisement, and may not be available in the bank – summarizes Rafał Tomkowicz.





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