Since our company was established, the real property market has been very lively and plenty of things have changed in the course of time. An area that has recently developed to a very conspicuous degree and altered markedly for the Client's benefit is the sphere of
REAL PROPERTY FUNDING
In the past the buyer almost always paid for a newly acquired property with his or her own money. Using credits, loans and mortgages to finance the purchases, repairs and other investments was rather exceptional, and represented a very small share in the overall volume of monies flowing through the real estate market. Nevertheless, as time went on, the banking institutions started to adjust their products to the needs of a wide range of customers, both buyers and owners; now they offer a broad spectrum of credit and mortgage products to the largest group of Clients possible. Right now the credits, loans and, particularly, the mortgages represent over 80% of the aggregate amount of finance that the PRAGUE REALITY's Clients invest when purchasing flats, family houses and other items of residential real property. The overview below will advise you on our partner banks and their products that we utilize most frequently when providing services to our Clients. This service, just like our other legal and financial services and real estate appraisals, is rendered free and covered by the Agency's commission.
When obtaining credits and mortgages for our Clients, PRAGUE REALITY relies primarily on these financial institutions:
HYPOTEČNÍ BANKA, a.s.
KOMERČNÍ BANKA, a.s.
ČESKÁ SPOŘITELNA, a.s.
GE MONEY BANK, a.s.
MODRÁ PYRAMIDA STAVEBNÍ SPOŘITELNA, a.s.
REIFEISSEN BANK, a.s.
ŽIVNOSTENSKÁ BANKA, a.s.
CREDITS & MORTGAGES MOST FREQUENTED:
A CLASSICAL MORTGAGE up to 70% of the property value (as much as 81% in some banks), with the property serving as a pledge, is still popular with the Clients for its low interest rates. This type of a mortgage is typically completed with a credit obtained from Housing Construction Saving Schemes so that the Clients are left with the greatest amount of money available to furnish their new lodging.
Recently the Clients have shown a marked rise of interest in MORTGAGE CREDITS good up to 100% of the real estate value (HUF 100, Bonus, etc.). Some of these mortgages offer attractive possibilities of exceptional deposits and, consequently, they may appeal to young families or be beneficial when investing into real property.
A MORTGAGE UP TO 85% of the property value is associated with almost as small interest rate as the classical mortgage, but the Clients will need less money of their own. This type of mortgage credit is used most often, but it is not available in all banking institutions.
Another option worth mentioning is a FEE-FREE MORTGAGE used primarily by Clients who seek a speedy solution to lodging problems that emerged at short notice.
Our Clients have also utilized the possibilities of the NO-MEANS-TEST MORTGAGE. This new type of mortgage is provided by only some banks operating on the Czech market, but we are ready to obtain it for you. The mortgage will suit the Clients capable of repaying the credit, but unable to prove this capability through the means test.
A special type of a mortgage we can provide for our Clients is a MORTGAGE TO BUILD AN INDIVIDUAL FAMILY HOUSE. These cases are the most tricky ones; in addressing them the Client will need the best quality services and those are exactly what we offer.
CREDITS OBTAINED FROM HOUSING CONSTRUCTION SCHEMES
The importance of credits obtained from Housing Construction Schemes has recently been growing. With years of personal experience behind them, the Clients now know the housing construction schemes work and can be used.
A device employed quite often is the BRIDGING CREDIT, an instrument particularly useful as an addition to a lower mortgage offered with lower interest rates. And it works also the other way round - credits obtained from Housing Construction Schemes often induce the Clients to buy a real property item.
Cooperative flats, not accepted as pledges to secure the classical mortgages, are mostly purchased by using just the Housing Scheme credits. Some saving banks offer special types of credits to fund these purchases - we shall be happy to tell you more. Since the cooperative flats cannot be used to secure the mortgages, the Housing Scheme credit is assured by another very convenient method - through a surety.
OTHER CREDIT RELATED SERVICES
If the Clients use our services to open a current account with a bank, our mediation will provide them substantially better conditions than are those given to ordinary clients.
We will help you take up insurance of your real property and block the insured sum to cover a credit.
Our Clients may rely on us also for other kinds of insurance policies required in relation to credits or needed to provide for the Client's family. Moreover, we are ready to give advice and secure insurance coverage for the Client's family also in case he or she assumes the credit obligations in any other way.
We do not try to "sell" as many products as possible, but aim to make the Clients happy, keep them capable of repaying their credits, and make them knowledgeable about faster and better methods of repayment. We want Clients, who are not anxious about themselves or their families just because they have a credit to repay.
You may enjoy our free counseling services.
Using our Hypoteční banka Calculator you may arrive at the approximate sum of your monthly installment - enter the price of real property you have chosen and the amount of your own disposable funds, if any. The Calculator will return the credit you will need plus your monthly installment. - CREDITS & MORTGAGES menu on the left - Calculator.
The Department's motto runs:
CLEVER COMBINATIONS ARE OURS - BETTER LODGING IS YOURS!
Write us and expect our immediate response.