You will have seen the news in the media that the CNB is tightening the rules for obtaining mortgages from 1 April 2022. This is indeed the case, but we would like to reassure you - there are no dramatic changes. On the contrary!

You will have seen the news in the media that the CNB is tightening the rules for obtaining mortgages from 1 April 2022. This is indeed the case, but we would like to reassure you - there are no dramatic changes. On the contrary!
For people who are under 36, the terms may be more favourable than at the moment. For people over 36, there is virtually no change from the current situation. In fact, most banks already follow stricter rules, even if they are only in the form of recommendations.

Are you interested in a mortgage and buying your own home in the future or even at the moment? But are you unsure how the new conditions will affect you and what the real impact will be in your particular case? We are still available to answer your questions and discuss your situation.
It's not a good idea to put off dealing with your mortgage because, in addition to the change in the rules for obtaining mortgages, there is the never-ending rise in interest rates. It was generally assumed that rates would stabilize at or just below 5%, but the war in Ukraine seems to have shattered that assumption.

We can expect to see more significant interest rate hikes at this week's CNB meeting, which will probably continue at other CNB meetings. There are even some experts who are already suggesting that interest rates could reach 7% this year. For this reason, we consider a quick mortgage solution to be an important decision that could save you thousands of crowns in monthly payments.
The math is simple. For example, let's take an apartment worth 7.5 million, which we finance 80% with a 30-year mortgage, so the mortgage amount will be 6 million. At today's average rate of 4.5%, the repayment will be 30 thousand CZK. At 6.5%, the repayment will be 38k. That's a difference of almost 100k per year.

If you postpone the decision, waiting for rates to drop, it could cost you much more. Why, you ask? If you take into account that the price of real estate will rise by 3% per year, with a property value of 7.5 million today, that means you will need 225k more next year. In two years, that's a difference of almost half a million. Therefore, it makes no sense to speculate on falling rates and we recommend tackling housing as soon as possible. In the event of a significant drop in rates, you have the option to refinance your mortgage at any time.
It is possible to take out a mortgage even if you have not yet selected a property, up to 3 years in advance.
We will be happy to help you not only with this type of mortgage. Just contact us and arrange a personal meeting.