Czech National Bank has decided to ban some of the fees on early repayment of the mortgages. This regulation should help arrange better conditions for applicants for a mortgage.
Currently the banks can only charge:
- Fees associated with the early repayment of a mortgage and these need to be reasonable and related to the costs of the repayment directly.
- These fees include administration, postage, copying documentation, the fees for providing a mortgage or the fees for evaluation.
Generally the early repayment fees will be significantly lower than were before which is positive for all clients.