Guide to Mortgage Brokers: Why You Should Use Their Services, Especially as a Foreigner

Buying property in Poland and applying for a mortgage loan is a process that requires understanding many legal regulations, bank policies, and formalities. For foreigners, this can be even more complicated because of language barriers, different procedures, or unfamiliarity with local requirements can present significant challenges. Fortunately, working with a mortgage broker who understands the realities of the Polish market and the needs of foreign clients can greatly simplify the process.

In this article, we will explain what a mortgage broker is, how working with such a specialist looks, and why it is worth using their services, especially if you are not a Polish citizen.

Who is a Mortgage Broker in Poland and What Do They Offer?

A mortgage broker, also known as a credit expert, is a person who specialises in advising on mortgage loans processes. Their main role is to help clients find the best loan offers and support them with the paperwork involved in the mortgage process. Unlike bank employees, brokers act on behalf of the client, not a specific financial institution.

Services Offered by a Mortgage Broker

• Selecting the Best Loan Offer: The broker analyses available bank proposals, taking into account the client’s individual needs and financial capabilities.
• Support with Document Preparation: They help gather all necessary certificates and forms, avoiding formal mistakes.
• Explaining Loan Terms: The broker clarifies key terms in the loan agreement, explains terminology, and ensures that the client fully understands all obligations and rights.
• Support Throughout the Process: The broker accompanies the client from the moment of offer selection to the finalisation of the agreement.

By working with a mortgage broker, the client saves time, minimises stress, and is assured that the chosen offer is truly the best available on the market.

The Specifics of Getting a Mortgage in Poland for Foreigners

For people outside of Poland, applying for a mortgage can be more complicated than for native residents. Polish banks often have additional requirements for foreign clients, which may lengthen or complicate the process. A mortgage broker familiar with the realities of working with foreigners can help overcome these barriers.

Common Difficulties Faced by Foreigners

1. Income Requirement in the Currency of the Loan
   According to the Polish Mortgage Credit Act of 2017, banks may only offer mortgage loans in the currency in which the client earns their income. This means that people earning, for example, in British pounds (GBP) or US dollars (USD) cannot apply for a loan in Polish zloty (PLN). In such cases, a broker will suggest effective solutions.
2. Language Barriers
   Mortgage documentation in Poland is prepared in Polish, which can be a significant challenge for people who do not know the language. Good mortgage broker:
   • Translates documents into English and explains formal complexities.
   • Supports the client during meetings with the bank, eliminating the risk of misunderstandings.
3. Specific Documentary Requirements
   Polish banks may require additional documents, such as:
   • Bank account statements,
   • Employment verification documents,
   • Official documents related to the property being purchased.

The broker helps gather all the necessary documents and prepares the client for potential questions from the bank.

Why Should Foreigners Use the Services of a Mortgage Broker?

1. Full English Language Support
   For people who do not speak Polish, working with a broker who speaks English is a huge convenience. The broker not only translates documents but also handles all communication with banks on behalf of the client.
2. Knowledge of the Market and Specifics of Working with Foreigners
   Experienced brokers know which banks have the best offers for foreigners and what requirements need to be met in order to receive a positive loan decision. This makes the whole process faster and more efficient.
3. Support in Complicated Situations
   A broker can help find solutions in unusual cases, such as lacking a credit history in Poland, earning income in several different currencies, or needing a Polish phone number.

The Process of Working with a Mortgage Broker

1. Initial Meeting
   During the first meeting, the broker analyses the client’s financial situation, expectations, and capabilities. Foreign clients should be prepared to provide:
   • Documents confirming their income,
   • Information about their status in Poland,
   • Details about the property they plan to buy (if found one).
2. Analysis of Bank Offers
   The broker compares available offers on the market, considering:
   • Interest rates,
   • Fees and additional costs,
   • Bank’s formal requirements.
3. Document Preparation
   The credit expert helps gather and complete all necessary documents, avoiding formal errors that could delay the bank’s decision.
4. Application Submission and Bank Contact
   The broker handles submitting the mortgage application and negotiating terms such as the loan period or interest rate.
5. Support After Obtaining the Loan
   A good broker monitors the market even after the loan is disbursed, informing the client about possible changes to the agreement or refinancing options.

How Much Does a Mortgage Broker’s Service Cost in Poland?

For individual clients, the services of a mortgage broker are completely free. The broker’s fee comes from the bank, which pays them a commission for successfully facilitating the mortgage agreement. This means that clients can benefit from professional help without incurring any additional costs.

Moreover, the mortgage offers available through the advisor are identical to those found directly at bank branches. The commission is not hidden as an additional margin, fee, or insurance that the client would have to pay.

What to Look for When Choosing a Mortgage Broker?

1. Experience and Specialisation
   Choose brokers who have experience working with foreigners and know the specifics of the Polish mortgage market.
2. Knowledge of English
   Good communication is the key—make sure the broker is fluent in English.
3. Certifications and Qualifications
   The publicly available register of mortgage intermediaries and agents by the KNF confirms that the broker holds the required credentials.
4. Client Reviews
   Check online reviews and recommendations from friends who have used the services of a particular broker.
5. Modern IT Tools
   Mortgage calculators, online application forms, and mobile apps allow for client service at convenient times and locations.

Conclusion

For foreigners planning to purchase property in Poland, working with a mortgage broker is not only a convenience but often a necessity. A professional broker helps overcome language barriers, explains local regulations, and supports the client at every stage of the mortgage process. Thanks to their help, obtaining a mortgage becomes simpler, faster, and less stressful.

If you are a foreigner considering purchasing property in Poland, contact a mortgage broker who understands your needs and will help you fulfill your dream of owning a home in Poland.