The Česká spořitelna mortgageAbout Product

For whom the product is designed

• For individuals, for financing real estate intended for housing purposes

Product description

• You can get the mortgage with no processing fee
• Up to 100% of the value of the pledged property
• Free on-line property valuation
• You can repay the mortgage as it suits your needs, including changing the instalment amount, postponing instalments, or interrupting repayment with the services you choose
• Fast draw-down without invoices in the case of building
• Offers a 0.3% interest discount and its unique guarantee throughout the repayment term

Tip: Get another 0.5% discount on the interest rate!  You only need to repay your mortgage from your actively used Ceska Sporitelna Personal Account.

What all can I use it for?

• For purchasing a property (e.g., land, family house, flat, including accessories – garage, storage locker, etc.)
• For purchasing buildings for individual recreation (cabins, cottages, etc.)
• For financing the building and adaptation of properties (building, renovation, extension, add-on) for purchasing cooperative-owned flats or flats from the municipality, even without pledging another property – without invoices
• For purchasing cooperative-owned flats or flats from the municipality, even without pledging another property
• For purchasing a residential property in order to rent it out (e.g., buying a flat for your child – before you child grows up, you can rent the flat out)
• For purchasing a share in a property in order to settle co-ownership and inheritance claims
• To repay previously taken real estate loans
• And for all documentable costs related to investments into a property (fees for banking services, property valuation, realtor and legal services, etc.)

For what amounts is the Česká Spořitelna Mortgage available?

• Up to 100% of the value of the pledged property, as determined by the Bank on the basis of an expert valuation, depending on the loan purpose
• As a rule, the minimum and maximum amounts are not limited
• You can easily find out about the monthly instalment amount with our mortgage calculator [new window] (in Czech language only)

What are the other parameters of the product?

• Repayment term of up to 30 years
• A fixed interest rate for 1, 2, 3, 4, 5, 10, 15, or 20 years
• We offer low interest rates for all clients

How is it secured?

• It is secured with a pledge on the property that is being financed or on another property in the Czech Republic
• The property that is the subject of the pledge must be insured and the receivable from insurance benefits must be pledged in favour of Ceska Sporitelna

How and for what can I draw the mortgage?

• You draw entirely in line with your needs
• You can draw down immediately, on the basis of an application for the inscription of a pledge, and furthermore, we help you communicate with the Land Registry
• You determine the required amount to be drawn down
• You draw down for investing into a real property (e.g., the purchase price of a real property, the budgeted costs of construction), including documented expenditures related to the investment into the property (fees for banking services, property valuation, realtor and legal services, etc.)

How will I repay?

• During draw-down, you will pay interest on the loan amount drawn
• You will only start repaying the loan principal once you have drawn it down in full, in the form of regular monthly payments, for the repayment term of your choice
• You can repay the loan in part or in full without any penalty as at the interest rate change date

What all will I need?

• You will only need a few simple documents for the processing of the Loan Application

Advantages

• Immediate purchase of a property at current prices
• Getting a loan for up to 100% of the value of the property, as determined by the Bank on the basis of an expert opinion
• The possibility of financing all documented costs related to your plan from the loan
• In the case of development projects in which CS cooperates, you will only have to document your income, and we will take care of the rest
• A long repayment period, which reduces the current burden on your family’s budget
• Setting up repayment entirely according to your needs
• Tax advantages (the possibility of deducting mortgage interest from your tax base)
• Comprehensive financial arrangements, using the services of Pojišťovna České spořitelny [new window], including its offer of insurance at advantageous prices
• Intermediation of government housing support