Mortgage on land.

Mortgage on land

Mortgage on land

Mortgage on land from Techniko Bank will help you with financing the purchase of a new building plot. You can get money from 300 000 CZK up to 90% of the land value. All this in combination with a very interesting interest rate and tailor-made offer.

Mortgage on the land is very variable, so you can work out to monthly payments to meet your needs. This is largely influenced not only by the maturity of 5 – 40 years, but also by the fixation period of 1, 3, 5, 7, 10 and 15 years.

You can apply for a home mortgage through a simple online application, where you can calculate the size of the estimated interest rate. This is guaranteed for the next 30 days. After submitting you will be contacted by bank specialists and a specific offer will be presented.

Mortgage on the building land is an attractive mortgage product in many ways.

Table of installments

Table of installments

the price of a property Loan Amount Loan Amount Interest rate annually Repayment period Monthly installment Fixation time  
CZK 1 300 000 65% 845 000 CZK 2.79% 25 years 3 915 CZK 3 years I am interested in
CZK 3,000,000 70% 2 100 000 CZK 2.79% 20 years 11 427 CZK 5 years I am interested in
4 000 000 CZK 90% CZK 3 600 000 3.29% 30 years 15 747 CZK 5 years I am interested in
7 500 000 CZK 80% 6 000 000 CZK 2.89% 30 years 24 942 CZK 5 years I am interested in

Representative example: Use a mortgage to acquire a parcel of 2 000 000 CZK, which is spread over 25 years. The mortgage bank will allow you to draw this amount within 12 months of signing the contract, in a single payment. You will be promised an interest rate of 2.79% and a APR of 3.07% with a five-year fixation. Monthly installments will reach CZK 9,463.22. In total, you will pay CZK 2,847,026.66 for your apartment mortgage. Fees related to the loan are as follows: proposal for a lien of CZK 1,000, verification of signatures of CZK 60, for drawing a loan based on the deposit of a lien to the CN CZK 1,900, for the first drawdown of CZK 1,000 from the CN in the amount of CZK 1,500. Regarding repeatable fees, count 196 CZK / month for property insurance and 100 CZK / year for sending confirmation of interest paid.

Advantages of a mortgage:

Advantages of a mortgage:

  1. Possibility to draw relatively large sums of money, up to 90% of the value of your land.
  2. The money can be drawn on a one-time basis or within the next 12 months.
  3. If you also carry out construction, funds can be drawn up to 24 months.
  4. Great emphasis is placed on the speed of processing the mortgage on the land, which is taken care of by professional mortgage specialists.
  5. Customers are offered a virtual branch from the house up to 21 hours.
  6. The maturity and fixation settings are up to you. Considerable flexibility is presented in this regard.

Disadvantages of mortgage:

Disadvantages of mortgage:

  1. Although up to 90% of the value of the land is provided, you may be limited by your creditworthiness. You must be able to repay the monthly installment on a regular basis.
  2. Low interest rates relate to mortgage loans over CZK 1,000,000 up to 70% LTV for a five-year fixation period. It is also necessary to use the account to arrange life insurance or another offered product.
  3. Techniko Bank has so far only about 30 branches in the Czech Republic.

Mortgage conditions:

Mortgage conditions:

  1. Age 18 and above
  2. Czech citizenship
  3. Land of adequate value
  4. Sufficient creditworthiness

Mortgage insurance options:

Mortgage insurance options:

  1. Loss of employment
  2. Incapacity
  3. Invalidity III. degree
  4. Death due to accident or illness

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