If you are dreaming of a cottage, or if you would like to share an apartment for rent, which could be fulfilled in you, you have the opportunity to get it on a mortgage. The conditions are similar to the case of buying real estate for residential use, but somewhere you will not get a mortgage one hundred percent, elsewhere you have to prepare for a few years.

Holiday property on the mortgage is not a problem

All major banks will provide mortgages for the financial purchase and construction of real estate for individual recreation. Standard mortgages are used for this purpose, with the same parameters as the housing mortgages. This means that it is possible to obtain even a 100% mortgage, it can be fulfilled in case of need and 30 or 40 years, the rates are at least theoretically outside. As most banks, in their years of operation, only publish minimum rates, they can in any case transfer the risk to the higher rate. The higher risk of holiday real estate compared to residential real estate stems primarily from the fact that their prices may fluctuate over time. Thus, it is necessary to take into account that the bank will be careful in determining the mortgage values ​​of such real estate, also provided in less than for residential real estate with similar parameters.

These standard mortgages are always intended only for real estate for individual recreation of the applicant, they cannot be used to finance a hotel, boarding house and other buildings associated with business members. What is a building for individual recreation and how the parameters must show is stated in the operating instructions for the building act. These are mainly Decree 137/1998 Coll., On general technical requirements for construction. It states what is considered, for example, an apartment, a family house, a building for individual recreation, the construction of a hostel and how the criteria must be met. This is also important for the possibility of using a building sphere, where it must always be about real estate intended for living, also it is not possible to attach to the cottage and real estate for the investment.

Cottage is not a cottage
Most banks provide mortgages on real estate for individual recreation, which includes holiday cottages and cottages. GE Money Bank, for example, states that it finances a holiday cottage or cottage, but not a cottage.

In the practice of the bank and the building society, the real estate in the cadastre is based on the approval, where it is stated for which purpose the building was approved.


Real estate for residential urn for rent

Thus, mortgages can be tied to real estate for rent, but not all banks will provide it. If it is a residential property, the standard mortgage is used again. Some parameters can be written. For example, Raiffeisenbank stipulates that the rate for this use is increased by 0.2%. Other banks do not specify, the applicant will again expect you to pay the annual rate.

Mortgages for individuals on komern real estate

For some banks, individuals may receive a mortgage specifically designed for financial real estate that is not used (only) for housing, but is insured either for investment purposes or as business premises. Pat among the following mortgages:

Hypotka PROFIT od Raiffeisenbank

This mortgage will serve the client as an investment in the property he will rent. After the payment of the heat, he should, as the owner, derive a stable income from renting the property. One of the advantages of this year is that the future collection will be fine for the applicant to join his / her other partners before approving the mortgage, which increases his / her creditworthiness and to gain money.

When financing real estate, its predominant area must be a commercial area. These include non-residential houses, non-residential units, administrative buildings, smaller hotels, boarding houses, multifunctional buildings.

While the standard KLASIK mortgage from Raiffeisenbank is a provider and up to 120 percent of the mortgage value of the property and with a maturity of up to 40 years, the PROFIT investment mortgage can finance a maximum of 70 percent of the mortgage value of the property and must be repaid within 20 years.

Investment mortgage from esk spoitelny

It is possible to buy real estate that is not suitable for living at all or only walls. It can therefore be real estate intended for business people (for example, a family house with an office, a small business), land for further investments, innovative houses, accommodation facilities. The client either has space for business or rent. Here, too, it is again possible to consider the future income from the lease of the acquired property and to increase the creditworthiness of the applicant.

It is provided up to 90 percent of the value of the mortgaged property, the longest maturity is 20 years. At the same time, there is a condition that the applicant’s own funds must be at least 15 percent of the total cost of the investment.

vr on non-residential real estate from UniCredit Bank

UniCredit Bank thus distinguishes between mortgages according to how real estate they are. The mortgage in the residence provided for financial housing provides and up to 100 percent of the value of the mortgaged property and with a maturity of 40 years. Non-residential property, which is intended, for example, for real estate for rent, can be obtained in a maximum of 80 percent of the mortgage value and the longest maturity is 30 years.

American mortgages
Non-American mortgages can also be used on the property for recreational or rental purposes. For them, the applicant does not encounter any problems resulting from the first unsatisfactory use. However, they must always keep up with the annual rate, the maturity period is up to 15 and 20 years. In particular, it will need more of its own funds, as banks usually only finance up to 70 and 80 percent of the value of real estate in construction for these mortgages.

Long maturity allows it to repay

The period of completion of a mortgage of thirty or even thirty years may have been long and expensive, as with a long maturity the total in paid year and fee increases. Its advantage, however, are lower installments, which cost me a long-term budget, or it can be obtained at the same level of income, incl. For this reason, it is sometimes appropriate to arrange a mortgage with a long maturity with a darkness, so that, if necessary, it can be shortened in the future by an extraordinary installment.

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