“We continue our efforts to make mortgage loan financing affordable for increasingly broader groups of clients,“ Executive Director for Marketing at KB Zdeněk Mojžíšek says. “We reduced our mortgage loan interest rates to a much more attractive level a short time ago, which has resulted in a drop in monthly instalments on newly provided mortgage loans, in particular for those clients who prefer longer periods of fixed interest rates. For example, the popular five-year fixed interest rates start from 4.03% p.a. Thanks to this additional opportunity for saving the costs related to a mortgage loan, buying a home or improving a flat or house is affordable for increasingly broader groups of people. For example, with a mortgage loan of CZK 1.4 million, which KB clients take most frequently, the savings amount to CZK 11,200 with the zero application processing charge.“
Komerční banka offers mortgage loans without the need for the client to have his own savings, and for all types of properties. Part of KB’s offer is a mortgage loan that can finance up to 100% of the price of the property, and also KB non-clients can obtain this mortgage loan. In addition to the conventional mortgage loans for the purchase or construction of housing units and family houses, KB also provides loans for buying land, cooperative flats, recreational facilities and garages, for settling co-ownership and inheritance claims, and for the refurbishment and modernisation of properties.
Komerční banka has also found a solution for the clients who are afraid that their personal income will not be sufficient for repaying a mortgage loan. Also other persons, for example parents or other relatives, or other non-related persons, who need not necessarily be the co-owners of the property being financed, may contribute to loan instalments. KB makes it possible to add up the income of up to four co-applicants (however, in two households at most), thereby making the obtaining of the loan easier.
An advantage of KB mortgage loans is the speed of loan application processing – within seven business days (from the moment of furnishing the bank with complete documentation), and also the opportunity to start to draw down on the loan as early as on the basis of the petition, confirmed by the respective cadastral office, for the registration of the lien over the property. KB also offers mortgage loans helping to acquire cooperative flats – i.e., the transfer of membership rights and obligations. Mortgage loans can be applied for at any of the 378 KB branches throughout the Czech Republic.
The charge for mortgage loan application processing is normally 0.8%, but at least CZK 9,000 and at most CZK 28,000.
This offer applies to mortgage loan applications filed by 31 March 2007 and contracts signed by 31 May 2007.
