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Financing of real estate in the Czech Republic and Slovakia

1. mortgage loan,
2. building  (construcition)  saving.

Ad 1) Mortgage can be used as investment in:

• family house
• privately owned apartment
• holiday house (country house, cottage)
• building plot (for construction of a family house)
• residential building, office building
• minimum amount is CZK 200,000.- (Euro 7 000) maximum amount is given by the value of the pledged real property and the client’s ability to repay,
• duration of Mortgage: loan maturity is from 5 to 30 years, 
• mortgage banks lend approved customers up to 85% of the price of the real estate,
• an advantaged interest rate equal to 3.85% and above; fixed rate for a period of 1, 5, 10 or 15 years, according to the client’s choice
• always a lien on the real property in the territory of the Czech Republic or abroad in favour of the bank; the real property must be insured against natural hazards and other risks. 

Whom is the product designed for:
The mortgage can be used by citizens of the Czech Republic and the European Union, or persons with permanent residence in the Czech Republic who are older than 18 years of age. The credit is secured with a right of lien to real estate in the Czech Republic.

Foreigner - Friendly Mortgage Banks

ad 2) WHAT IS Building / CONSTRUCTION SAVING

It is an advantageous investment for the near future

It is governed by the Construction Saving and State Subsidy to Construction Saving Act, law No. 96/93 Coll., as subsequently amended

MAKE USE OF THE ADVANTAGES, which a contract on construction saving with us can offer you:

the average net yield on your savings can reach up to 14%

A 20% state subsidy on your annual savings, at maximum CZK 3 000

Your interest yield is exempt from the personal income tax

The deposits are insured by law

After a 5-year period of saving you can use your savings, including the interest and state subsidy, in any way you wish

A credit from the construction saving, having the basic 40% advance payment of the target amount at the guaranteed interest rate of 4.9% p.a.

The option of a long-term construction saving credit repayment in form of low instalments

The option of deducting the credit interest from your assessment base (tax base)

The option of a roll-over credit having the advance payment starting at 20% of the target amount, at an interest rate starting at 5.9%

Preference flood credits - determined for construction saving participants from the regions afflicted with floods, 4.5% interest rate in course of the entire period of credit repayment, advance payment starting at 20%

WHO CAN SAVE?
Anyone who has a permanent residence in the Czech Republic and has been allocated a birth number (also referred to as the personal identification number) can save. A legal guardian, i.e. either a parent or a court-appointed custodian, can conclude a contract on behalf of minors.

An identity document is needed in order to conclude a contract (if you are concluding a contract on behalf of a child who is not recorded in your identity card, you also need the child's birth certificate).

Saving and credit facilities are not restricted to natural persons! They can also be used by legal entities but these have no right to state subsidy. However, the saving does ensure that they can benefit from a favourable fixed interest rate when taking out a construction saving credit.

Our services:

1. following your income level we will recognise if the bank affords you the loan

2, identification of the most lucrative type of loan for you by a concrete bank

These services are free for all customers.

3, following the letter of attorney we ensure the loan for you,

We provide all necessary documents, arrange the loan and you have only to sign it.

Price: 1% from the provided loan

Contact:
Czech Republic: Vít Klíma, vitklima@seznam.cz, TEL: 00420 604 568 553

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