Top 15 questions to ask your mortgage broker in Poland

Finding the right mortgage in Poland can be a tough task. There’s much more to examine than the interest rate. The mortgages with the lowest interest rates usually have higher other fees, making them less competitive than it looks at first sight. That’s why for most people in Poland the easiest way through this labyrinth is to use a mortgage broker.

A mortgage broker acts as the intermediary between you and banks. A good mortgage broker is able to recommend mortgage deals from across the Polish market. He or she will also help you fill out any paperwork, help present your application in the best way to the bank and negotiate the best deals on the market.

Naturally, there’s a substantial difference between quality brokers who work for you to get you the best possible deal, and those who want to do the least possible work and generate quick commissions. Below are some important question to ask your mortgage broker when purchasing a property in Poland.

How much experience do you have as a mortgage broker?
Do you offer mortgage loans from all lenders in Poland?
Do you charge a fee for your service?
How do you recommend which loan is best suited to my personal situation?
How long will it take to arrange a mortgage for me?
How much deposit will I really need to obtain a loan?
What documentation do I need to provide you for my mortgage loan application?
What are the procedures that I will need to follow in order to get my mortgage loan?
How much can I borrow?
Which repayment method is best for my situation and goals?
What will my monthly mortgage payment be?
What is the Interest Rate?
May the bank change the margin after signing the loan agreement? Under what conditions?
What are the closing costs and other fees on the loan?
Is there a fee to make overpayments?

Thus, if you are thinking about buying a property in Poland and taking out a mortgage, feel free to ask your local mortgage broker any questions that you may have.