Last week, the Banking Council of the Czech National Bank ("CNB") deactivated the upper limit of the DTI indicator with effect from January 1, 2024.
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If you consider buying a property in the Czech Republic there are several options how you can do it. Our clients use most frequently the below stated:
What are the expected mortgage interest rates for the rest of this year? Is it worth waiting to buy a property for more favorable rates in 2024? And what decline in interest rates can be expected?
Jun 19
Abolition of the DSTI parameter restricting the provision of mortgages. What will be the effects?
At its meeting on June 1, 2023, the Czech National Bank (CNB) canceled the obligation to comply with the DSTI parameter, which will change the rules for providing mortgage loans.
Applying for a mortgage in the Czech Republic might be confusing for expats / foreigners due to the Czech bureaucracy, processes in banks, specific buying process of purchasing a property or just because of the language barriers.
During the month of April, the transfer of the loan portfolio from Sberbank to Ceska sporitelna will be completed, and from May 1, 2023, Ceska sporitelna will fully serve Sberbank's loan clients.
Mar 13
A discount on the purchase price of the property can be more efficient than a lower interest rate
The possibility to negotiate the purchase price of real estate is currently a well known term, especially in the situation when mortgages are not getting any cheaper. Can a possible discount from the purchase price of the property compensate for the higher interest rate of the mortgage?
Are you planning to buy a property in the near future, but haven't found the right one just yet? Did you know that you can get a mortgage now and choose the property later?
In the Czech Republic, this type of mortgage gives you a sum of cash when you take it out. It can be used to refund money (own resources) you used in the past to buy a property. Reverse financing (cashback mortgage) can be used if you have renovated or purchased, for example, a family house, apartment unit or...
The principle of an offset mortgage consists in offsetting the account balance against the amount owed. The client thus pays interest only on the difference between the unpaid loan principal and the amount on the offset account. The balance on the offset account can change continuously, and the amount of interest paid changes according to...