Cost of refinancing of mortgages

· Refinancing by the experienced, independent mortgage broker is a useful way of working together with all the banks that can find the most appropriate solution on the market. · The customer can save money and time to prevent difficulties and difficulties in every refinancing process. lusail 

· Customers do not have to pay any new mortgage fees to the bank which are savings of up to CZK 30 000.

Customers can use their original property value assessment and do not need to arrange a new one. This can save up to 10,000 CZK.

· No prepaid fee or penalty can be charged by the bank. On the anniversary of the fixed interest rate period customers may pay the mortgage free of charge in advance or in full.

Current Czech refinancing options

Recently, several Czech banks have offered special refinancing mortgage products. These products have a number of discounts and advantages over average products for the new customer. However, every mortgage case should be analyzed individually, taking all aspects and specifics into account. Such an analysis may show that an average product can be optimal and preferable to any special refinancing offer that is apparent in the following text. It is always reasonable, instead of relying on actual promotions and the marketing of the bank, to assess all the parameters of the mortgage case and the entire mortgage range on the market. More than ever, it is worth using the services of an independent mortgage broker, who is aware of all the refinancing requirements and can find the optimal solution for the specific financial situation and needs of the customer.

The purpose of the bank offers selected is only informative - depending on the current market situation and particular issues relating to individual mortgages, such as LTV (loan-to- value), interest rate fixing period, the financial condition of the customer, the amount of the mortgage repayment, the customer's personal status, the mortgage maturity etc.

Bank of GE Money

· The bank offers a five-year discounted rate: currently 5.39 percent p.a.

· The maximum value loan is 85%

· Bank processing fee free (saving up to CZK 25,000)

· No proof of the client's income is required by the bank unless the new mortgage reimbursement is more than 120% from the previous one.

· A copy of the original value assessment shall be accepted by the bank except where it is older than three years (saving up to CZK 10,000)

The People's Bank

A very similar product for refinancing, like GE Money Bank above, was available until the end of June. Refinancing offers in this bank are always timely, but are quite periodic and the offer can be assumed to be available very soon. In contrast to GE Money Bank, the bank may present property value assessments dated six years ago. The Volksbank also offers discounted mortgage maturity interest rates shorter than 10 years and can be fixed over 10 years.