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Mortgage refinancing

Do not wait for higher interest rates, and arrange advantageous conditions right now. Transfer your mortgage to our Bank

  • No entry fee
  • Low interest rates
  • Acceptance of original price estimate of the real estate
  • Payment protection insurance with possibility to choose insurance risk

Important documents can be downloaded.

Refinancing is considerably easier than taking out a new mortgage.

Under what conditions may I use this mortgage?

  • Smooth repayment of your existing loans
  • Repayment of a previously granted mortgage loan with another bank designated for housing or recreation

How much can I borrow?

  • Minimum amount is CZK 200,000; maximum amount is unlimited
  • We lend you up to 95 % of the appraised value of the property (or up to 80% for clients over 36 years of age)

What will be the amount of instalment?

  • For the certainty of a stable instalment, we offer fixed interest rates for 1 – 10 years

 

Property insurance
We will protect your house or apartment from a number of risks, such as fire, flood, explosion, theft, vandalism, etc.

Home insurance
We will protect your household from a number of risks, such as fire, flood, explosion, theft, vandalism, etc.

Liability insurance
Did you flood out the neighbours? Did your child break a window with a football? Did you knock over a vase in a shop? No need to worry, we will compensate the loss for you.

Ability to Pay Insurance
Upon unexpected loss of income, you will remain able to pay your monthly instalments.

Important documents are available for downloading here.

 

When can you repay the loan?

You can repay the loan at any time during the term of the contract, in whole or in part. However, the request must be made at least 10 working days before the requested early repayment date, either in writing or in person at a bank branch. Please contact your banker for more details about the exact amount you have left to pay.

 

What are the costs that you should know about?

A) In the event of early repayment of loans taken out or refixed after 1 December 2016, we are entitled under the Consumer Credit Act to reimbursement of reasonable costs incurred in connection with early repayment.

We have to prepare and process the early repayment of the loan, which is not part of the day-to-day loan administration. As a result, we incur administrative costs, which currently amount to CZK 1,500, and therefore we require payment of this amount upon early repayment of the loan.

Reimbursement of early repayment costs is not required if early repayment is made:

  • as part of payment under the insurance policy intended to secure the repayment of the loan
  • in a period for which there is no fixed interest rate (i.e., when the rate is not fixed but, for example, variable)
  • within 3 months after the bank announces the new interest rate (i.e., in the event of refixing and within 3 months before the refixing date)
  • as a result of the death, long-term illness or disability of the client, the client’s spouse or registered partner, if this leads to a significant deterioration of the ability to repay the mortgage loan
  • within 1 month prior to the mortgage loan agreement anniversary date and up to a maximum of 25% of the loan principal drawn down


If the mortgage loan agreement lasts longer than 24 months at the date of early repayment and the loan is thus repaid early in connection with the sale of the property that is the subject of the security or the object of the loan; the reimbursement of the costs for early repayment cannot exceed 1% of the amount of the loan repaid early, but to a maximum of CZK 50,000.

B) In the event of early repayment of loans taken out before 1 December 2016 and not refixed after that date, we are entitled to a compensation fee according to the price list or to reimbursement of the costs specified in the loan agreement.       

The compensation fee for early repayment is not required if early repayment is made:

  • in a period for which there is no fixed interest rate (i.e., when the rate is not fixed)
  • within 1 month before the end of the current fixed-rate term


How can the compensation fee be reduced?

The amount of the compensation fee is affected by:

  • the amount of the requested early repayment
  • the remaining time until the end of your fixed-rate term

If you want to eliminate the compensation fee altogether, it is best to stick to your original fixed-rate term. If you repay your loan early at the end of the current fixed-rate term, the early repayment will be at absolutely no cost.

Representative example with Account Activity:

The total loan amount is CZK 2,000,000. Loan duration period is 300 months. Interest rate is 4.89 % p.a., fixed interest rate for 3 years. Monthly payment is CZK 11,564. The Annual Percentage Rate (APR) is 5.02 % p.a. APR includes one-off costs for the deposit and deletion of the pledge right in the land registry of CZK 4,000, withdrawal on the basis of a proposal to deposit a lien into the real estate register of CZK 1,900 and signature verification CZK 50. The total due amount is CZK 3,475,411.15


Information on interest rate:

The interest rate of 4.89% is valid for a 3-year fixation and for a loan amount of maximum 80% of the value of the collateral provided  and fulfilling the condition of activity on the account from which the loan is repaid (activity on the account means the monthly sending of an amount in the amount of at least 1.5 times the annuity payment in favor of this account and the monthly execution of at least 3 payments with the card issued for this account).

 

This example is provided for informational purposes only and shall not be understood as a proposal for signing a loan contract.

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