Discover the best offers for the autumn season and get a mortgage in the Czech Republic!
October 7, 2019
At the end of the summer drops in interest rates have occured. This overall trend was concomitant to an accentuated reduction in the interest rate of the mortgage loans. Moreover, demand in new mortgage loans has decreased in 2019 compared to 2018 and 2017.
The Czech banks reacted to declines in demand and interest rates by special mortgage loan offers. Lower interest rates and easier approval conditions are the main reasons for getting a loan for property purchase. During the autumn season clients could benefit not just from no fees for valuation of property. Loan processing and loan account maintenance are also being offered free of charge currently.
Foreigners in the Czech republic will have easier access to mortgages
August 20, 2019
One of the Czech bank came out with a new mortgage product exclusively for foreigners. From now on they no longer have to have any type of residence in Czech republic in order to apply for a mortgage. Currently the only requirement is to prove that they have an income in Czech republic for two years. This new product will be helpful for expats working in the Czech Republic.
Applying for a mortgage these days is very convenient since banks are still trying to entice clients by offering them better terms and conditions. Even though the Czech National Bank has increased the prime rate this year the interest rates of mortgages offered by the banks are still decreasing.
The lower interest rates on Czech market will continue
July 23, 2019
According to the latest news the Czech National Bank ("CNB") hasn´t changed the interest rates. We can expect the interest rates to be the same or lower during the summer and in the second part of this year.
The soon to be presented novelty - amendment to the Act by the CNB which could help younger people, those under 36 years of the age to get a mortgage. These young people could apply for a 90% LTV mortgage or could be offered better interest rates.
Currently, the banks can standartly offer 80% LTV mortgages and in it is very rare for banks to offer 90% LTV mortgages. About these exeptional clients the banks are deciding by themselves. The only condition is that the overall 90% LTV mortgages can not exceed 15% of the total money lent.
The interest rates of mortgages are decresing!
June 13, 2019
The interest rates of mortgage loans are still decreasing due to special offers from the banks. The mortgage demand had decreased since the start of 2019 and banks are trying to keep their clients and get new ones. Their other offer is the possibility to get a mortgage with a long fixation period with much better interest rate.
Many banks, such as Ceska Sporitelna, CSOB, or UniCredit Bank, are offering a fixation period for long-term such as ten years, fifteen or even twenty years.
The Czech National Bank has increased the interest rates which still has not projected on the interest rates of the banks.
Ceska sporitelna has a novelty where people buying their fist property can get better conditions when applying for a mortgage. Nowadays they can get a mortgage loan up to 90% of the purchase price. All they need to do is to go to the Land Registry Office and prove that they don´t own any property.
Currently there are also many interesting campaigns from other big banks such as Komercni banka, Hypotecni banka or Raiffeisenbank.
Feel free to ask us for the solution which would just suit your needs!
Many banks extended their special offers and the mortgages have better conditions now
May 15, 2019
Many banks extended their campaigns and they are still offering mortgage loans for better conditions. This situation should be the same the whole May.
The major change happened recently, when the Czech National Bank increased the prime rate finally. However, the pressure of competition between banks and the interest of the banks to sell more mortgage loans still keeps the interest rates low, but there is a possibility of an increase in interest rates at the end of May or in the beginning of June.
That can cause a problem mainly in large cities, such as Prague, where is a very small supply of apartments which are
demanded. The Czech economic is starting to slow down a bit so the interest rates might stay on current leven for a while.
The Czech National Bank hasn´t increased the prime rate, mortgages for younger people should be more affordable
April 17, 2019
In the last the Czech National Bank ("CNB") meeting on 28th of March it was decided not to increase the prime rate. In the first quater of 2019 the production of mortgages for housing has decreased by 32% . The main reason of this huge decrease is the current availability to get a mortgage since the new CNB DTI and DSTI restrictions. Due to this decision the interest rates of banks are still decreasing.
There is an amendment to the Act on the Czech National Bank in the process which could help younger people to get a mortgage. People under 36 years could get better conditions when getting a mortgage. For example they will be able to apply for a 100% LTV mortgage with 50% DSTI parameter or they will be able to get the mortgage despite their lower net income. If this novelty will be accepted it will apply only to the people applying for a mortgage only for a housing purpose.
The Czech National Bank has decided to reduce banks´ fees on mortgages
March 20, 2019
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.
Overview of current mortgage conditions for foreigners on the Czech market
February 28, 2019
Most of the expats and foreigners ask if they are able to get a mortgage in the Czech Republic and what are the current conditions. Here is a brief overview what you can expect:
- Most common LTV "loan to value" is 80% LTV, however it is also possible to get 90% mortgage at some cases.
- The interest rates are same as for the locals.
- Temporary or permanent residency is more than welcome but not necessary.
- Income from the Czech Republic is a good advantage, but the banks accept also income from abroad, especially if you are an employee.
- If you ask for a mortgage with Czech citizen (e.g. with a partner, husband or wife) it would help a lot.
Generally, if you have a stable income and 20% downpayment you will be able to get a mortgage in the Czech Republic. Please note that the banks´ conditions are very individual but we are here to help you to choose the right solution.
The forecast of Czech mortgage and Real Estate market for this year
January 31, 2019
The year 2019 has already started and we provide you with our prediction for the upcoming months. Let´s start with the Czech mortgage market first.
Last year we noticed significant increasing trend of bank´s interest rates due to the rising by the Czech National Bank. Currently the interest rates of mortgage are attacking 3% p.a. Thus, it has to be said that the current rates are still quite low if we look at it from a long-term perspective. We could say that the interest rates are still "better than average" nowadays.
And what about the Czech Real Estate market?
The properties had very fast increasing trend within the end of the last year, especially in Prague, the capital city. The real estate market in Prague is driven by high demand and we expect that the increasing trend will continue slowly also this year. Based on the current macroeconomics data we do not expect any downtrend or crash of the Prague real estate market.
Finally, it is important to mentioned that you can still find very suitable properties with friendly conditions of financing so feel free to contact us or arrange a meeting with us. We will be happy to discuss the financing with you.
Why to obtain a mortgage for a company? What are the advantages?
December 27, 2018
If you are looking for an investment property and financing in the Czech Republic it might be helpful to consider if to obtain a personal mortgage for a personal property or if rather buy a property for a company. There are many aspects that should be considered. The main advantages why to buy a property for a company are below:
- If you buy a company which owns a property instead of buying a standard property you will save 4% from the purchase price for real estate transfer tax.
- You will save on accounting effect, i.e. depreciation of a property.
- Most of the costs for repairements and related services are tax deductible.
- You could get very good mortgage conditions also for foreigners withnout any residency or income in the Czech Republic.
- Your property will be in a separated ownership from your personal assets.
This kind of buying property and financing became very popular and we will be happy to help you and advice in your particular situation.
The interest rates of mortgages are rising again
November 6, 2018
The Czech National Bank has already rised the interest rates 5-times during this year. The last increasing by 0.25% (which is the same incresing than in the previous cases) was confirmed on November 1, 2018 last week.
Previously the Czech National Bank rised interest rates also on September 27, August 3, June 28 and February 2 this year.
These increases have direct impact on increasing the mortgage interest rates that are attacking the 3% p.a. nowadays. Generally the interest rates are still acceptable in a long-term view, but we must admit that the rates below 2% p.a. are already just a history.
If you would like to get individual banks´ offers and conditions feel free to contact us.
Overview of mortgage solutions for foreigners
September 20, 2018
The summer brings new approach to the mortgage financing for foreigners in the Czech Republic. What are the current options and how to get a financing for your property?
Generally there are three ways of financing that we use with our clients:
- Banking mortgage loan;
- Business mortgage loan, i.e. mortgage on a company; and
- Non-banking mortgage loan.
Of course that the best conditions, i.e. the lowest interest rates and lowest fees have standard banking mortgages. However, there are some cases where you are not able to get a banking mortgage. At this case it is good to know that there are also business mortgages for a company which could be for a new established Czech company (SPV). Moreover, we have a cooperation with several non-banking providers so this might be a solution for your financing as well.
The market conditions are less clear than before so feel free to contact us.
Since October 1, 2018 the new restrictions will be valid on the mortgages
June 26, 2018
The Czech mortgage market has changed a lot within past months. And, unfortunately some new changes are coming.
New restrictions from Czech National Bank will be effective on October 1, 2018. There will be two new limits for mortgage applicants:
- maximum loan amount will be 9-times of annual net income (DTI ratio); and
- maximum loan instalment cannot exceed 45% of the net monthly income (DSTI ratio).
The banks will have to consider more deaply the income of applicants and household and check these two ratios as well. However, there are few cases where the new limits will not be applied.
In practise it means that you would need to have very good income or higher amount of your own savings that you will use as a deposit for your mortgage.
In these days it is more important than earlier to have a professional mortgage broker who knows the conditions of the Czech market and could help you to reach the best mortgage.
Remember to pay property tax
May 30, 2018
If you own a property in the Czech Republic you are obliged to pay a property tax for another year by 31 May 2018. If you paid later (after 5 June 2018) you would receive a penalty from the Czech Tax Authority.
Regarding the payment details you should received a notice e.g. via email or letter within the past weeks. There should be mentioned the amount of your property tax and bank account details as well.
Generaly the property tax has to be paid for apartments, houses, villas, lands and some other properties so if you have not done the payment yet do it as soon as possible.
Spring campaigns have already started!
April 10, 2018
Every year the Czech banks attract potential clients to the banks. The spring campaigns have already started. What is the benefit for clients?
Currently the banks usually offer:
- property evaluation free of charge;
- special interest rates;
- one-time financial bonuses; or
- processing the mortgage free of charge
Generally the interest rates are going up so do not miss the current special spring offers!
The Czech National Bank has raised the interest rates since 2 February 2018
February 2, 2018
The Czech National Bank raised the key interest rate (2T repo) by 0.25%
according to analysts expectation. The impact on interest rates on
mortgages can be expected very soon.
Third rate increases over the last 7 months
After August and November rallies, the Board of Czech National Bank approached a further increase of interest rates on 1 February 2018. This step has been expected since December last year, so it is more a confirmation of earlier forecasts than a surprise for the market.
Banks are increasing interest rates significantly
Some banks have been expecting this step, and have changed their interest rates as early as February 1, 2018. For others, the price is likely to follow in most days or weeks.
Two more times this year
According to forecasts, the Czech National Bank could raise interest rates by a similar value two more times this year. The most likely one is to expect a further increase in the spring, e.g. in May and then in autumn, about October.
However, the Czech banks offer still very friendly mortgage conditions and also for the foreign citizens!
Do not forget to file a Tax Return from real estate
January 23, 2018
If you buy e.g. a land, flat, cottage or apartment within the last year 2017 you will be required to file a property tax return.
The deadline is on January 31, 2018 so you have only few more days!
Once you file the tax return you have few months for paying the real estate tax. The deadline for the payment is set on May 31, 2018.
If you solve this tax return or financing feel free to contact us.
Mortgages will be still available on the Czech market next year
December 21, 2017
The fact is that the Czech mortgage market has changed a lot within a few past months. We have new Act related to the loans started 1 December 2016, the payer of real estate transfer tax is the buyer (previously it was the seller) and the Czech National Bank increased basic interest rates twice this year.
Despite all of this the mortgages are still very available on the Czech mortgage market and this situation should continue during the next year 2018.
Feel free to contact us and ask us for more details about the financing.
Interest rates will continue to grow, fix your interest rate in time!
November 22, 2017
On 2nd November 2017 the Czech National Bank increased the general interest rates by 0.25% again. The Czech banks will not wait with increasing the interest rate of the mortgages.
Currently it is possible to get a mortgage loan with the interest rate of 1.79% p.a. for a shorter fixation period. Nevertheless, the interest rates will be above 2% p.a. in average next year.
If you plan to buy a property, do a reconstruction or refinance your current mortgage loan we would advise you to start immediately and fix the lower interest rates in time.
It could happen that the interests will attack 2.5% p.a. during the next year.
Contact us right now and we will find the solution for you.
The real estate price growth could stop soon
October 26, 2017
Probably you have noticed that the prices of apartments grew in few past years, especially in Prague. The increasing trend was very significant. The prices of the new apartments in Prague grew by 21.50% in the last 24 months. Currently it seems that the peak could be really close.
Many analysts predict the cooling of the real estate market in the next year 2018. On the other hand the demand is still very strong especially in attractive locations.
To sum up if you are going to sell the property in the Czech Republic you have the best time to do it nowadays.
Czech National Bank increased the interest rates and it has already impact on the mortgages
September 5, 2017
At the beginning of August Czech National Bank increased the interest rates after almost 10 years of declining and stagnating trend. The incresing was not too much significant - only 0.20%.
However, the banks as mortgage providers have already reacted on this change and increased the interest rates. Some banks are still waiting on another market change, but it is very likely that the other banks will follow these banks during the upcoming months.
The market conditions remain still very positive and friendly, but it seems that the stable trend has already changed and we can expect a new trend of slightly increasing interest rates.
The interest rates are still below 2% p.a.
July 25, 2017
The interest rates of our clients are still below 2% p.a. The several last clients achieved the interest rates in the range between 1.79% p.a. and 1.89% p.a. which is great result due to the slightly increasing trend of the interest rates in the past months.
Generally the average interest rates are around 2% p.a. on the Czech mortgage market so the conditions remain very positive also in comparison to other European countries.
The forecasts of the interest rates agree that the slow increasing trend should continue in the second half of this year and the upcoming year as well.
To sum up the market conditions are still very friendly to the new clients nowadays.
Czech mortgage market could change soon
June 13, 2017
If you live in the Czech Republic you probably noticed the discussion about another new regulation on the Czech mortgage market and real estate market.
The Czech National Bank is afraid of overheating the Czech real estate market and they seek to gain greater regulatory powers. Currently this discussion is on a daily basis.
Fortunately, this regulation should not have a direct impact on the foreigners who would like to get a mortgage in the Czech Republic.
Nevertheless, it might be better to start with the mortgage process sooner rather than later and prepare the financing in advance. We will keep you updated if any changes would come.
Feel free to contact us in this respect.
Few simple steps to get a mortgage
May 11, 2017
Do you thinking about getting the mortgage loan in the Czech Republic? If you follow the below mentioned step plan it could be easier for you to orientate yourself on the Czech mortgage and real estate market:
1) Meet the Mortgage specialist - Mortgage specialist will help you to understand the whole process, compare the banks´ offers and will guide you during the transaction to the successful end.
2) Choose the right mortgage for you - Would you like to have 80% LTV mortgage or 90% LTV mortgage? Do you want to have a shorter or longer fixation period? How long should be a duration of your mortgage? By answering these and other questions you will choose the right mortgage for you with your Mortgage specialist.
3) Provide the necessary documents - The bank will need a few documents from your side, which is mainly confirmation of your income, bank account statements, copy of your ID and other forms which will be prepared by the mortgage broker.
4) Sign & withdraw the mortgage - Once your mortgage is approved, you will sign it and meet the withdrawing conditions with the assitance of your Mortgage specialist.
Afterwards, you can enjoy your new property!
Czech National Bank regulates the conditions for providing mortgage loans
April 3, 2017
Starting 1 April the Czech National Bank regulates mortgages with higher LTV ratio. In practise it means that the banks could provide to the new clients mortgages only up to 90% of a purchase price, resp. a pledge value.
Moreover, the best mortgage conditions are for the mortgages up to 80% from 1 April 2017.
Last year it was possible to get 100% mortgage and since 1 October the maximum mortgage was 95% LTV.
On the other side many clients has their own savings and we usually recommend to have a deposit of 15-30% from the purchase price.
If you think about financing of a property in the Czech Republic, feel free to ask us for a preliminary calculation.
Taxes in the Czech Republic related to the real estates
February 1, 2017
We offen receive questions regarding the tax system in the Czech Republic. Find below the general overview of the taxes that might interest you if you would like to own a property here:
Personal Income Tax (15%) - If you will rent an apartment or house you will be taxed by the personal income tax. The tax base could be decreased by costs of 30% from rental income.
Corporate Income Tax (19%) - In case you will have a corporate mortgage you will pay 19% from the tax base (income minus costs).
Real Estate Tax - The owners of lands, apartments and houses pay a real estate tax every year. The tax is calculated from square metres and it depends mainly on a location of the property. This tax is very low, e.g. for 80m2 apartment in Prague you will pay only c. CZK 1,000 per year.
Real Estate Transfer Tax (4%) - This tax has the main impact on a purchase process. You will pay 4% from a purchase price (or from an evaluation price in some cases) within 3 months after buying the property.
Generally the taxation in the Czech Republic is not so big in comparison to other European Union countries.
New Act started on 1 December. What is the impact for foreigners?
December 9, 2016
On 1 December 2016 new Act started which has also impact on mortgages for foreigners. Here is a brief overview:
- It is possible to finance up to 90% LTV (means 90% of a purchase / evaluation price). The most common is to use 85% mortgage.
- The limit for a purchase of a building apartment is 80% LTV (!) This might be a very interesting way of financing for investors, because only 20% as a downpayment is needed.
- For other general rental purposes the limit is set on 60% LTV (if a future rental income is calculated).
- The maximum early repayment fee after 24 months of a mortgage duration is only 1% from the mortgage amount.
- Extraordinary payments of 25% from a mortgage per annum is free of charge, so with no penalties.
- The interest rates are still very competitive below 2% p.a. currently.
Real Estate Transfer Tax - change of the taxpayer
November 3, 2016
Starting 1 November 2016 the new Act related to the Real Estate Transfer Tax became into force. Before this date a seller and a buyer were abble to agree who will pay the tax for the transfer.
Currently the tax payer has to be always the buyer in all cases.
The amount of the tax is at the same level of 4% from a purchase price (or the evaluation price if the purchase price is significantly lower).
Hurry up! The new Act will come into force already on 1 December
October 7, 2016
Many changes on the Czech mortgage market are coming this autumn:
i) The Czech National Bank limited max. LTV (loan-to-value ratio) from 100% to 95%. This restriction is valid from 1 October 2016. Currently the buyers need at least 5% as a downpayment.
ii) Since 1 November 2016 there is a change of real estate transfer tax act and the taxpayer will be always the buyer of a property. The amount of tax will remain on the same level which is 4% from a purchase price.
iii) Starting 1 December 2016 the new Act will come into force and it will change the mortgage market quite a lot. There will be some new limits, e.g. a limit of 60% mortgage for rental purposes. On the other hand new Act includes also new benefits for the clients such as lower penalties of early repayment of a mortgage.
Historically low interest rates!
September 21, 2016
Based on the FINCENTRUM HYPOINDEX (https://www.hypoindex.cz) the average interest rate of mortgage loans decreased to 1.84% p.a. in August 2016 in the Czech Republic. The decreasing trend continues to historically low interest rates!
Here are the comparison of average interest rates during the last three months:
- August 2016: 1.84% p.a.
- July 2016: 1.88% p.a.
- June 2016: 1.87% p.a.
Coming changes of the Czech mortgage market
June 20, 2016
The Czech National Bank ("CNB") wil influence the maximum LTV (Loan to value) of the mortgages. The CNB recommends max 95% LTV from 1 October 2016 and max. 90% LTV from 1 April 2017. The true is, that this is only the recommendation, but the banks which will provide loans above this max. LTV settled by the CNB will need more capital to cover these loans. In other words these mortgages will be still available, but the conditions for clients might not be so friendly as today.
Moreover, new Act of consumer loans was agreed by parlament of the Czech Republic and it also influences the mortgages. The clients will be able to repay the 25% of the mortgage every year without any penalities or repay the whole mortgage in case of difficult life situations. This Act should be valid from October or November this year.
May is the best month of the year to take a mortgage
May 15, 2016
The interest rates of the mortgages are recordly low, because Czech banks have still attractive spring campaigns. This month is the best to take a mortgage for a variety of reasons.
Firstly, as mentioned above the interest rates are recordly low so you can have a great conditions of your mortgage in May.
Secondly, the purchase prices of apartments and houses are still acceptable, but the forecast is that a growing trend is coming. So do not wait for a long time.
Moreover, a new tax act will be effective during the summer or autumn, so the buyer will pay a real estate transfer tax of 4% from a purchase price.
Nowadays, the conditions are very friendly on the Czech market to take a mortgage. Feel free to contact us and you will get a personalised mortgage and conditions.
Spring campaigns keep interest rates very low!
April 11, 2016
Many banks which provide mortgages in the Czech Republic started spring campaigns last week. The campaigns are different, but with the same result for the clients: you will save money now.
At some banks they have special interest rates, some of them have a discount on fees or have some services without any fees.
The conditions for buying a property is still great at the Czech market and if you think about a mortgage feel free to contact us to get an individual interest rates and conditions.
Czech mortgage market in 2016
January 12, 2016
If you were not able to find your dream property during the last year, where the interest rates of mortgages were extremely low in the Czech Republic, you will have another chance for a great conditions in 2016.
The mortgage market has had a record-low interest rates of mortgages in its history in the Czech Republic. The average interest rate of a mortgage was during the whole year around 2% p.a.
Despite of the expectations of economists the interest rates remained low also after the summer time and after autumn as well.
Nevertheless, if you did not find the right property for you last year don´t worry. The very friedly conditions should remain for the whole year 2016! The prediction of economists is that there might be a very slowly increasing trend of mortgage interest rates, but the rates will be still very low.
Once you will find a suitable property for you feel free to ask us for financing and individual conditions.
Interest rates decreased again!
December 10, 2015
Based on the FINCENTRUM HYPOINDEX (https://www.hypoindex.cz) the average interest rate of mortgage loans decreased to 2.09% p.a. in November 2015 in the Czech Republic. The decreasing trend from the beginning of the year still continues.
Here are the comparison of average interest rates during the last three months:
- September 2015: 2.11% p.a.
- October 2015: 2.12% p.a.
- November 2015: 2.09% p.a.
Mortgage market trends in the Czech Republic
September 1, 2015
This summer we can observe a changing trend of the interest rates in the Czech Republic. Two of the Czech Top 3 banks increased its interest rates in June. The third bank from Top 3 will increase the interest rates during the first half of September. Does it mean that we are at the beginning of a new increasing trend?
The predictions of the Czech leading economists are mostly the same and conservative as well. Based on the main prognosis the interest rates should turn its trend and set the rates on a little bit higher level than in the previous months. Generally, it is not expected that the interest rates would arise very fast in the second half of this year. The predictions say that the increasing trend could be very slow. Due to the competition between the banks it could also happen that the interest rates would be constant during this autumn.
If you are looking for the right property, do not worry about the increasing interest rates so much, because the mortgage conditions are going to be still very positive in the following months on the Czech market in a comparison to the previous years.
Of course, that an unexpected economic occurrence might change the situation very fast, so do not wait unnecessarily for too long.
Mortgages are easily available, but think twice
June 11, 2015
The interest rates may unpleasantly increase after the fixation period. Think of it already in the negotiation of mortgages, and consider everything well.
The interest rates are still decreasing and mortgage loans are cheaper than during the previous years in the Czech Republic and in the Central Europe as well. It is particular important to remember that the current agreed interest rate is valid only for a fixed period and not for the entire duration of your mortgage. The fixation period is usually set at 3, 5 or 7 years. After this period, you will have a different interest rate and due to the fact that interest rates are very low nowadays, you can assume that your interest rate may be significantly higher and thus your monthly payment.
Let's show an illustrative example. Suppose you are planning to buy an apartment in June 2015 and take a mortgage in the amount of CZK 2 million. Your interest rate will be 1.89% per annum and your monthly payment would be CZK 7,283 in case of 30 years duration of your mortgage. You choose a 5 year fixation period so this conditions will be valid until June 2020. And what's next?
The monthly payment may raise by thousands of crowns after the fixation period.
The bank will offer you the new conditions to continue and you can decide if you stay at the same bank or you leave and refinance the mortgage to another bank in June 2020. However, the interest rates generally depend on the current economic situation and it may happen that in 5 years you will have the interest rate almost by 3 percentage points higher!
For example, you can negotiate new interest rate of 4.89% per annum in June 2020 and your monthly payment would increase to CZK 10,062. In comparison to your former monthly payment would be your new payment higher after the fixation by CZK 2,779!
The question is: Are you prepared to pay substantially higher payment if the interest rate will increase? Or your budget is set on the maximum and you can get into the trouble with paying the mortgage in case of increasing interest rates?
We advise our clients on the possibility that their monthly payment can be up to several thousand crowns higher than it is today in a time of low interest rates.
How can you prepare?
The preferred option is to create the financial reserves to be able to cover increased monthly payments. If it is not possible, it is advisable to reconsider mortgage financing or choose a cheaper property in this case.
The mortgages are definitely easily available, but think ahead. It is mostly a commitment for 20 or 30 years, not only for the first fixation period (eg 5 years).
Interest rates decreased again! Average rate is 2.11% p.a.
May 21, 2015
Based on the FINCENTRUM HYPOINDEX (https://www.hypoindex.cz) the average interest rate of mortgage loans decreased to 2.11% p.a. in April 2015 in the Czech Republic. The decreasing trend from the beginning of the year continues.
Here are the comparison of average interest rates during this year:
- January 2015: 2.34% p.a.
- February 2015: 2.27% p.a.
- March 2015: 2.16% p.a.
- April 2015: 2.11% p.a.
Average interest rate decreased to 2.16% p.a.
April 22, 2015
Based on the FINCENTRUM HYPOINDEX (https://www.hypoindex.cz) the average interest rate of mortgage loans decreased to 2.16% p.a. in March 2015 in the Czech Republic. This year´s decreasing trend is also obvious as in the last year 2014.
Here are the comparison of average interest rates during this year:
- January 2015: 2.34% p.a.
- February 2015: 2.27% p.a.
- March 2015: 2.16% p.a.