Financing methods
Own sources
In order to simplify the apartment purchase process for you, we have prepared recommended variants of financing using only own sources. It is, of course, only a suggested procedure – we approach every client individually, and whenever possible enable you to finance the purchase any way you like. The price stated in the price list remains the same, regardless of whether the recommended procedure is used or not, and is not linked to any special conditions.
Repayment Calendars
STANDARD
- .the first advance payment (reservation fee) of 70,000 CZK including VAT for every apartment, is paid within five days from the signing of the Reservation Agreement
- .the second advance payment, of 15% of the agreed basic price minus the reservation fee + applicable VAT, is payable within 14 days from the signing of the Contract Regarding a Future Purchase Contract
- .the third advance payment, of 40% of the agreed basic price + applicable VAT, is payable within 14 days from the completion of the rough construction
- .the fourth advance payment, of 20% of the agreed basic price + applicable VAT, is payable within 14 days from the completion of plastering inside the apartment
- .the fifth advance payment, of 20% the agreed basic price + applicable VAT, is payable within 14 days from the submission of the application for the final approval of the building
- .balance due – the remaining part of the purchase price + applicable VAT is payable within 14 days from the issue of the final approval of the building
Comment:
The STANDARD and INDIVIDUAL Repayment Calendars are exclusively for the financing of the subject of the sale from the client's own funds, i.e. it is not, and will not be, possible to use the subject of the sale as collateral for third parties.
The Repayment Calendar variant must be indicated by the Applicant before signing the Reservation Agreement.
All of the stated information is set with regard to the Future Seller business model, and cannot be changed. If the Applicant finds themselves in a situation where they are unable to make payments, we recommend they immediately contact the Sales Department to resolve the situation.
INDIVIDUAL
- .the first advance payment (reservation fee) of 70,000 CZK including VAT for every apartment, is paid within five days from the signing of the Reservation Agreement
- .the second advance payment, of 15% of the agreed basic price minus the reservation fee + applicable VAT, is payable within 14 days from the signing of the Contract Regarding a Future Purchase Contract
- .balance due – the remaining part of the purchase price + applicable VAT is payable within 14 days from the issue of the final approval of the building
Comment:
The STANDARD and INDIVIDUAL Repayment Calendars are exclusively for the financing of the subject of the sale from the client's own funds, i.e. it is not, and will not be, possible to use the subject of the sale as collateral for third parties.
When using the INDIVIDUAL Repayment Calendar, the price of the subject of the sale as per the Future Seller's price list will be increased by 3%. I.e. the basic price of the subject of the sale will be listed in the contracts including the increase.
The Repayment Calendar variant must be indicated by the Applicant before signing the Reservation Agreement.
All of the stated information is set with regard to the Future Seller business model, and cannot be changed. If the Applicant finds themselves in a situation where they are unable to make payments, we recommend they immediately contact the Sales Department to resolve the situation.
Mortgage
In order to ensure the standardisation of the drawing conditions set in the Contract Regarding a Future Purchase Contract, the Future Seller recommends that the Applicant arranges a mortgage with one of the four collaborating banks (ČSOB a.s., HB a.s., ČS a.s., Express Finance s.r.o and Modrá pyramida stavební spořitelna, a.s.), in branches chosen by the Future Seller. The Future Seller also recommends, mainly for the purpose of fast communication with the bank providing the mortgage, to arrange a mortgage with the selected branch directly, without the involvement of an external financial advisor.
Fee for arranging a loan with a non-collaborating bank: if the client wishes to arrange a loan themselves, or via their own mortgage adviser, they will be charged an administrative fee of 20,000 CZK for the administrative tasks connected with same, such as negotiations with the bank providing the loan, inspection of the Loan Contract, inspection and conclusion of the Lien Contract, inspection of the proposal to file the lien in the Property Cadaster, verification of signatures on the Lien Contracts, etc.
The Future Seller points out that in order to secure a receivable from a bank loan provided to the Future Seller by the financing bank to secure project financing of the properties which comprise the Project will be bound by a lien. Therefore, for a certain time, the Applicant's mortgage bank's lien will be second in order.
The Future Seller notifies the Applicant of the payment of an additional cost, being the fee for the filing of the Lien Contract in the Property Cadaster.
Cooperating banks
Mortage Bank
Specialist in the provision of mortgages to natural persons. The mortgage bank was established in Czechoslovakia at the beginning of the year 1991, at the time still under the name AGROBANKA, and opened its first branch a year after the Velvet Revolution in Hradec Králové. During the subsequent years its name changed several times, until it settled on Českomoravská hypoteční banka, a.s. It currently has 30 branches, and many advice centres and external sellers, in the Czech Republic.
ČSOB
ČSOB is a bank with a long tradition. It was established by the state in Czechoslovakia in the year 1964. After the fall of the former regime, the bank, just like other large state-owned enterprises, was privatised. In the year 1999, the Belgian banking-insurance group KBC became the new majority owner. A year later, ČSOB took over a healthy part of the bankrupt IPB (Investiční a Poštovní Banka). The year 2008 saw the detachment of the Slovak branch, which now operates in Slovakia as an independent entity.
Česká spořitelna
The best-known Czech bank, with an unrivalled network of branches and ATMs, and the best-performing part of the Austrian Erste Group Bank. In total, the Erste group services over 16 million clients (of which over 5 million in the Czech Republic).
Modrá pyramida
Modrá pyramida is a modern, dynamic company focusing on the provision of financial advice, which it bases on a long-term relationship between the client and the financial advisor. Apart from traditional building savings and home loans, it currently also offers a number of insurance products, and brings clients advantageous solutions in the form of new concepts – Wise Saving.
EXPRESS FINANCE
Professionals with many years of experience in mortgage processing will take care of you here. They will solve the mortgage in the shortest possible time under the most advantageous conditions that the banking market offers. All services related to mortgage approval are provided completely free of charge.
