The process of obtaining a mortgage can be a bit burdensome and so we would recommend using the services of a mortgage broker that is familiar with the wide-range of products available on the Czech market and the varying rates and terms.
The loan to value ratio can be up to 75 %-80 % but even as high as 90 %. This means any deposit can be as low as 10 % of the purchase price. Therefore, even with the strong crown, this still makes property investments attractive to foreign buyers. However be aware that the value for mortgage purposes may be different to the asking price. The mortgage period can range from 5 to 30 years. Generally interest rates are lower for lower term mortgages. You also have the option to enter into fixed rate mortgages to avoid fluctuations in the bank lending rates.
If you need a mortgage, we recommend referring you to our partner broker that will advise on the products most suited to your particular needs and assist with the whole mortgage application from start to finish. Alternatively, if you prefer, we can introduce you directly to a mortgage provider.
