If you are a foreigner and consider a purchase of a property in the Czech Republic, the first question you will definitely ask will be the legal conditions defined and enabled by the Exchange Control Act. And if you decide to finance the purchase of the property with a mortgage, which is no doubt the most convenient financial tool for property purchase, you must know your financial competence necessary to be fulfilled for an approval of the mortgage in banks in the territory of the Czech Republic. Generally, it is possible to say that according to the valid Exchange Control Act, properties in the Czech Republic can be acquired by:
- residents (physical entities with a permanent residence in the territory of the Czech Republic)
- foreigners holding a Czech citizenship
- foreigners holding a residence permit for a citizen of a member country of European communities
- foreigners – legal entities that situate a company or an organisational subdivision of a company in the Czech Republic and are eligible to carry a business here
- other foreigners can acquire a property for example:
- in form of a heritage
- for a diplomatic representation of a state on the condition of reciprocation
- within a marital common asset, where only one of the married couple is a citizen of the Czech Republic or native
Important information for selection of a property is of course an amount of the mortgage available to the client in regard to his/her financial competence. The maximal amount of the mortgage possible to be obtained by a foreigner is methodically defined otherwise in every bank (however, he/she can obtain up to 100% of the property price). The maximal maturity period of the mortgage can be up to 30 years. The interest rate varies from 2.9 %.
When selecting the way of financing, one must decide what type of a loan is the most convenient for him/her – that means to know what the banks offer, conduct difficult negotiations in banks and compare all bank offers, which is very difficult for a laic. Each mortgage, the processes of obtaining this loan at individual banks, situations and also possibilities of a client are fully specific.
The services offered by the GEPARD FINANCE company enable to simplify, speed up and reduce the property purchase to clients as much as possible. GEPARD FINANCE is a Czech broker company specialised in financial consulting and complex processing of loan and insurance products related to property financing. We have been certified with all mortgage banks on the Czech market and for our clients we process their loan products free of charge.
The GEPARD FINANCE mortgage brokers know the possibilities and conditions for a loan approval at all banks in detail. For every client they process an analyses and offer of the possibilities of obtaining a mortgage from all banks on the Czech market free of charge. They secure the whole loan on behalf of the client and provide a professional consulting service for the loan duration. In case that the client has not chosen a property yet, the brokers can help also with finding a suitable property in co-operation with our partners in the field of the first line property companies.
The mortgage broker will contact you based on your requirements and will agree on the time and place convenient for you to discuss all information and documents in respect of the mortgage. Thanks to the position of our company on the mortgage market we have been an important business partner of all mortgage banks, which brings significant benefits to our clients in form of faster and simpler effecting of the mortgage, the lowest possible interest rates and other financial bonuses and fee discounts.
Clients can find the services of our mortgage brokers in offices all over the Czech Republic.
Chairman of the Board of Directors of
GEPARD FINANCE a.s.
Phone: +420 271 122 960