Banks are quite unanimous about accepting income from abroad. Some banks in Poland offer loans to persons working abroad only if the borrower or co-borrower does not only have foreign income, but also earns steady income in PLN.
Co-borrower with income from abroad
This is certainly very helpful information for people who want to take out a loan in a foreign currency , but unfortunately the bank rejects their application for various reasons. The solution may be to choose a co-borrower who earns a steady income in the Polish currency. Therefore, it is very common for persons working abroad to choose a co- borrower , especially for mortgage loans , where a relatively high financial capacity is usually required.
If the borrowers are a marriage that earns in different currencies, then taking a loan in Poland will be possible only in the currency with the highest income in a given marriage.
It is worth remembering that the co- borrower who decides to take out the loan must be aware that he is fully charged with this obligation, just like the main borrower . Being a co-borrower also affects future financial capacity.
The decision to become a co-borrower should be well thought out. Banks approach the issue of co-borrower in Poland quite liberally. A co-borrower may be not only a spouse, a family member or a partner. In some banks it may also be a person not related to the main borrower . Importantly, the co- borrower need not be the owner of the real estate or vehicle being credited.
You can apply for two or more people not only for a mortgage in Poland. You can even apply for a car loan with a co -borrower.
It is also worth remembering about the other side of the coin – taking a loan with a co – borrower also has some disadvantages. One of the most important is the fact that in the case of two borrowers, the bank will take into account the age of the older borrower when determining the maximum loan period. Therefore, if you decide to have your co -borrower, for example, parents, then the bank may offer you a shorter loan period than you expected. This in turn translates into higher monthly installments.
Many married couples who choose a loan in which one of them earns income from abroad, and want to take a loan in Poland, decide to take a loan only by the person who earns in zlotys.
Many customers try to find the best offer for themselves.
At this stage, many mistakes are made, so sometimes it is worth using the help of a specialist who has procedures with income from abroad has the proverbial, little finger.
Taking out a loan with another person who earns in PLN is the easiest and most effective way if the bank does not want to grant a loan to a person working abroad and earning income in a foreign currency.