Raiffeisen Bank 

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Mortgages

A mortgage loan to finance the purchase of real estate and cooperative flats.

What type of investments is this loan suitable for?

The KLASIK mortgage loan is the standard and most popular mortgage loan provided by Raiffeisenbank and may be used to finance the purchase, reconstruction or construction of your own home. You may also apply for a KLASIK mortgage loan  when you need to finance the purchase of a cooperative flat or real estate intended for private recreational purposes. The KLASIK mortgage can also be used for investments in real estate intended for lease.
Have you already found a property but the owner is in a hurry to sell, does not want to wait until your mortgage loan is arranged and prefers a buyer who is able to pay immediately? Do not despair, we can still cater for your needs in this type of situation. We offer a fast review of your loan application and a minimum amount of paperwork is required (as few as 3 documents) to speed up your loan approval (this means that the bank will not wait until the lien is registered in the Land Register and will authorize the loan to be drawn on once the lien agreements have been filed with the Land Registry. This will speed up the loan transfer and save you several months.


What may be the loan used for?

  • purchase of real estate
  • purchase of real estate abroad 
  • to finance the purchase of cooperative flats – payment for transfer of membership rights or payment for a membership share
  • construction of real estate
  • reconstruction of real estate
  • refinancing for loans and credits used for the purchase, construction or reconstruction of a real estate
  • property settlement – e.g. divorce or, inheritance proceedings, settlement of undivided ownership rights of spouses, etc.
  • a combination of the above purposes

What types of real estate may be financed?

  • a housing unit (personal property or a cooperative flat)
  • an atelier
  • a family house
  • an apartment house
  • a recreational object intended for private recreation
  • up to 5,000 m2 of land designated for construction
  • other types of land  neighbouring on the loan applicant’s estates
  • ancillary constructions (e.g. garages, outhouses) if they form a functional unit with one of the properties listed above 

What is the loan amount?

  • minimum amount CZK 300.000
  • the bank no longer requires you to show proof of use of up to 20 % of the loan funds (select the “Klasik 2 in 1” option in the mortgage loan application)  
  • financing up to 90 % of pledge value

How is the loan repaid?

  • loan maturity varies from 5 to 30 years
  • the loan is repaid in monthly annuity instalments
  • available interest rate terms include 1, 2, 3, 4, 5, 6, 7, 10 or 15 years, the loan can be extended by the same or another fixation term, as you decide
  • extraordinary instalments are permitted without any penalty on the date the interest rate is changed. An extraordinary instalment can be made on another date but is subject to a fee of 10 % of the amount of the extraordinary instalment.
  • we also offer the option of extraordinary instalments, so called "turbo" instalments, without any penalty of up to 25 % of the due principal sum after every 12 correctly paid instalments. You can use "turbo" instalments several times, they do not depend on interest rate fixation periods.

Who may apply for the loan?

Types of applicants

  • a citizen of the Czech Republic
  • a citizen of the EU or a citizen of any country who lives in the Czech Republic at least 2 years

 Age restriction

  • the current minimum age for applicants is 18 years
  • the maximum age in the year the mortgage matures is 65 years




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