Poland Tightens Mortgage Rules for Foreigners: Santander Bank's New Requirements

Poland Tightens Mortgage Rules for Foreigners Poland's Santander Bank has implemented stricter rules for mortgage applications from foreign nationals, particularly those from Ukraine. The bank now requires applicants to provide proof that they have no outstanding loans in Ukraine. Additionally, couples with joint property ownership agreements will no longer be eligible for mortgages. These changes followed a recent acquisition of the bank by Austrian investors. "This new requirement is a significant change for many Ukrainian citizens seeking mortgages in Poland," said a financial advisor in Warsaw, who asked not to be named. "It adds another layer of complexity to an already challenging process." The bank's decision has sparked discussion about the potential impact on the housing market and access to credit for foreign residents. While the changes currently only apply to Santander Bank, there is concern that other lenders may follow suit. The long-term effects of these changes remain to be seen, but they highlight the evolving landscape of the Polish mortgage market. The new rules are a significant development for those seeking to buy property in Poland. The situation will be closely monitored for further developments and potential adjustments.