Belarusian Couple Secures Joint Mortgage in Poland for Otwock Apartment
A Belarusian couple, Pavel and Tatiana, have embarked on a significant financial venture together. Despite not being married, they successfully secured a joint mortgage in Poland to purchase an apartment in Otwock, near Warsaw.
The couple's journey began when they met at a vintage market in Warsaw in 2022 and decided to take out a mortgage together after dating for over a year. They chose a three-bedroom apartment in Otwock for 800,000 złoty (approximately $175,000).
The loan process took about five weeks, with almost three weeks of waiting for a decision. The bank issued a loan of 640 thousand złoty (approximately $140,000) for 25 years at 7.8% per annum, with a monthly payment of around 5 thousand złoty (approximately $1,100). They had to put down 20% of their own money, which was 160,000 złoty (approximately $35,000), with help from their relatives. The couple also paid additional fees for the notary's services, civil law transaction tax, insurance, and property evaluation, totaling around 20 thousand złoty (approximately $4,500).
Pavel and Tatiana plan to renovate the apartment themselves with help from Pavel's uncle and consider Grodno as their long-term home. They had to gather an extensive folder of documents for the mortgage application, including passports, residence permits, income statements, and documents for the apartment being purchased. The couple is responsible for the mortgage until one buys out the other's share or the bank agrees to rewrite the contract in case they split up.
Pavel and Tatiana's joint mortgage in Poland marks a significant step in their relationship and future plans. Despite the lengthy mortgage process and substantial financial commitment, the couple remains optimistic about their decision to purchase an apartment together.
