Buying in Poland

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phil1147

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I have bought a place in Poland a few months ago, paid my reservation fee and 5% of the cost to the developer. I have since been trying to get a mortgage from 3 different mortgage companies. The 1st 2 backed out at the last minute and the 3rd was about to hand the money over to the developer but was unhappy with somethin in the contract.
Now my solicitor has informed me that the developer will be able to get a bank to fund my property. I will just need to pay 20% of the total cost up front.

Is this a risk getting finance from the developers banks? The last bank pulled out because of something in the contract, my solicitor said it was only a "technical glitch", should i just pull out of the purchase, i was told i would not get my 5% back, or any agents fees.
 
What were teh 3 banks you were delaing with out of curiosity?

And what was the glitch in your contract?
 
sorry for delay in updating post:

the banks were 1. Fortis. 2. DOM. 3. Millenium.

the glitch in the eyes of the Millenium bank was that the contractor had to fund 24% of the development before his bank would finance the rest, and as far i am am aware and to what my solicitor tried to explain to me was that the developer was using the sale of some of the apartments to finance the original 24%.

Thats what i think the glitch is in broad terms!!!!!
 
Fortis refused because they said they do not lend to people unless they use equity from there own house.
 
We borrowed with bzwbk last year but had also approached Deutsche Bank previously as well (2 years ago) and also had approval. You might try them.
 
"Fortis refused because they said they do not lend to people unless they use equity from there own house."

Cripes must be new thing stopping mortgages as they were playing ball last time i was over very competitive CHF mortgages also.
 
now i told my solicitor to tell them to give me my money back as i cannot get a polish mortgage, he said the developer told him he would organise a mortgage for me. my solicitor told me it would be very difficult getting money back. so im gonna run with the developer and see what happens. this better be good.

thanks for the responses!
 
Phil

Have you tried BZWBK or Noble? I have had PAYE, self-employed and asset based mortgages approved through one or the other.

Propman
 
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