When financing the purchase of an apartment with a mortgage loan, seek the services of Hyposka, our exclusive partner providing financial advisory with some extra benefits.
Even nowadays, taking out a mortgage
is a meaningful solution
Rising mortgage rates should be an important, yet not the only, criterion when negotiating a mortgage to buy your own home. Let us introduce you to a variety of options that a HypoSka mortgage broker can model for you. By running a very thorough analysis, together you will identify the most advantageous option, thanks to which you can save hundreds of thousands of crowns during the repayment period.
Forms of Financing
A) Paying for the apartment with your own cash
The standard repayment schedule is set according to key project milestones:
15% of the price of the apartment is paid by the client upon signing the Futures Contract
50% of the price of the apartment is paid by the client upon notification of completion of the rough construction
30% of the apartment price is paid by the client upon notification of completion of the interior plastering
5% of the price of the apartment is paid by the client upon notification of the completion of the building
In case of accelerated cash payment of the apartment, we are open to fair negotiations with the client on more favourable terms of purchase. Prepayment of a flat is always advantageous, even more so nowadays when inflation is on the rise and so are property prices.
B) Purchasing a home with a mortgage loan arranged by
If you are buying a new home with the help of a mortgage loan, use the services of our exclusive mortgage advisors Hyposka. Thanks to this, you will be able to obtain the best repayment terms.
If the Standard Repayment Plan does not suit you and you have the possibility to pay 10% of the price of the apartment from your own funds, we will offer you the possibility to postpone the payment of the remaining 90% of the price until after the house is completed. That is, just before you move into the apartment or before you start renting it out. Moreover, we are one of the few on the market without any additional charge for this offer.
C) Purchasing a flat with a mortgage loan
(without Hyposka's involvement)
The mortgage advisors of Hyposka are your right hand in arranging your mortgage, but they are also a trained intermediary between the bank and Skanska. If we are unable to use Hyposka's services when dealing with you and your bank, the entire agenda is taken over by our client advisors, and for this reason the purchase of a property on a mortgage negotiated outside Hyposka is subject to a one-off fee of CZK 20,000.
In the case of mortgage negotiation without Hyposka's participation, we also cannot offer advantageous financing in the form of 10/90, where you can start paying up to 90% of the price of the apartment only after the house is completed.
D) Buying an apartment by using an already concluded
mortgage without a specific property
Clients who have an existing mortgage loan without a specific property can choose a property from our portfolio and finance it with an existing loan, provided that the terms and conditions of the new property are in line with the terms and conditions of the existing loan agreement.
Pay only before moving in
without any surcharge
To help you bridge the period when banks are lending their funds at higher interest rates, we offer you the option of drawing up to 90% of the purchase price just before you move in. This means that you will only pay a down payment at the start, which can be as little as 10% of the price of the home, or 20% for applicants over 36 years of age. Everything else, including bank interest, will only be paid after the house is completed. This saves you tens of thousands in interest paid to the bank during construction and allows you to use the time in between (which can be as long as two to three years) to save up the additional amount you need.
We even offer this unique opportunity without any additional mark-up on the purchase price.
Your new apartment
will grow in value
While the value of money decreases, the opposite is true for real estate. According to research, its acquisition is the safest and most profitable type of investment in the long term, especially in Prague, where the prices of new apartments are constantly rising due to the huge demand. Prague is thus gradually moving towards the trend of Western European metropolises, where only the chosen few can afford their own housing. At the same time, the prices of building materials are also rising in the Czech Republic, which will logically be reflected in the rising prices of new housing. Make a decision that you will appreciate in the future while you still can.
The purchase price is final
and we guarantee that it will not increase
We promote a fair approach to be transparent, which is why we do not use inflation or risk clauses in our contracts and assume all risk. We will fix the price permanently when you sign the Futures Contract. Until you move in, we guarantee the current price of the property, which will not be affected by further increases in the price of building materials or inflation.
This is especially advantageous for newly offered apartments that will be handed over in two to three years. In the meantime, you have the opportunity to save a significant part of future repayments.
How? Radka Doubravská, Managing Director of HypoSka mortgage company, will provide the answer.
What are your most common recommendations to those who come to Skanska Home Center with great concern about purchasing their property?
I recommend that if a client has at least 10% of their own resources (20% if age 36 or older), to go ahead and purchase a property. When arranging a mortgage through Hyposka, despite the higher rates, he will be able to take start repaying after the completion of the building. Sometimes this can be in 2 to 3 years. For example, with a fixation arranged for 3 years, the higher rate repayments may not be paid at all or for a very short period of time until the situation in the mortgage market calms down.
What is the best use of the time waiting for the completion of the reserved apartment?
Ideally, already during the construction period, set aside a portion of the money on a regular basis, e.g. in term deposits or various secured investments, to partially avoid depreciation due to higher inflation. And then use the saved funds for equipment or partial mortgage redemption (or not to draw down e.g. 20% of the agreed mortgage for free).
Younger clients can take advantage of the 10/90 benefit, what about clients over 36 of age? What are your recommendations for older mortgage applicants?
Same, buy a property, of course you need 20% of the property value saved up, or in exceptional cases try to ask the bank for an exemption for a lower equity share, choose a shorter fixation at current rates.
What are your recommendations for those who want to buy a property for investment, for long-term rental purposes?
It is expected that property prices will not fall due to increasing demand and growing cost of construction. Given the current high mortgage rates, even the rising cost of renting will not cover the entire monthly mortgage payment in some cases. However, even with minimal equity input, clients in productive age can reduce their mortgage payment just by the rent and thus have the security of appreciation on their investment. At the same time, this will enable them to secure ownership of an apartment, for example, for their children in the future.
The broker is a defender of your interests, get only the best conditions
Nowadays, it is even more important to have an expert at hand who will guide you safely through the whole process, explain the possible risks and recommend the most appropriate course of action.
Because we guarantee a superior service
When negotiating with banks, a HypoSka mortgage broker becomes your representative and advocate. After many years of experience we will help you negotiate the best options on the market.
Czechs know that their own home
is the most valuable commodity
By living in a rented apartment, we often contribute financially to the owner's mortgage payments. But by buying my own home, I am already investing in my own future. Property prices in our country are steadily rising, following the growing trend of property in western part of Europe. Why not be one of those who put their long-term savings into such a unique commodity?
Main cooperating banks
Banks that allow mortgage drawdown over 2 years:
Other banks we work with:
ČSOB / Hypoteční banka
Moneta Money Bank
Stavební spořitelna vybraných bank
Skanska Home Center
Křižíkova 682/34a, Prague 8 - Karlín
9.00 - 17.00
9.00 - 15.00
For a specific offer and recommendation, please visit Skanska Home Centre or Hyposka.