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2 in 1 Mortgage

A mortgage and consumer loan in one.

A 2 in 1 Mortgage is intended for:

  • all those who want to gain a mortgage that includes a non-specific part that can be used for any purpose
  • citizens of the Czech Republic
  • foreigners with permanent residency in the Czech Republic
  • citizens of EU Member States with a residency permit – temporary or permanent
  • in the case of married couples, at least one must be a Czech citizen or have a residency permit or permanent residency permit
  • up to four people may be applicants, representing a maximum of two households
  • married couples are always regarded as co-applicants for the loan (unless they have restricted joint assets)

Characteristics of a 2 in 1 Mortgage

  • a 2 in 1 Mortgage is a mortgage loan, which can also be used for non-specific investment
  • the non-specific part of the loan can be used for anything – e.g. for purchasing fixtures and fittings in your flat, furniture or electronics etc. (financing must however always be related to the real estate in question)
A specific part of the 2 in 1 Mortgage can be used to finance:
  • purchase of real estate into your ownership (as well as a co-ownership share)
  • construction of real estate
  • reconstruction, modernisation and repair of real estate
  • purchase of a cooperative flat
  • settlement of co-ownership and inheritance claims towards real estate
  • prepayment of rent in order to conclude a lease contract
  • consolidation (settlement) of formerly provided loans or credit used for investment in real estate
  • reimbursement (repayment) of an investment in real estate not older than 1 year already made by the client
  •  this must always concern financing of the client's own housing requirements (including recreational)
  • purposes can be mutually combined, e.g. purchase and completion of construction, purchase and reconstruction etc.
  • the mortgage loan can also be used to pay for secondary costs relating to investment in real estate, for example:
    • a fitted kitchen
    • fitted wardrobes
    • project documentation
    • geometric measuring of the building
    • building supervision
    • commission for an estate agency
    • the total level of these costs may not exceed 50% of the volume of the mortgage loan
  • the minimum level of the loan is CZK 250,000, of which:
    • specific part – min. CZK 200,000
    • non-specific part – min. CZK 50,000
  • the maximum level of the specific part is limited by:
    • 85% (Mortgage Loan Klasik) or 100% (Mortgage Loan Plus) of the price of the mortgaged real estate, which is determined by the bank
    • the volume of investment into the real estate (budget costs, purchase price etc.)
    • the client's ability to make repayments
  • the non-specific part of the loan can come to:
    • a maximum of 20% of the total level of the loan (the sum of the specific and non-specific parts)
    • a maximum of CZK 400,000
You can draw on the mortgage loan:
  • in a one-off manner or gradually over the course of 2 years from the date of signature of the contract
  • drawing must be commenced no later than 9 months from signature of the loan contract
  • commencement of drawing on the non-specific part of the mortgage loan is subject to at condition of drawing at least 50% of the specific part of the mortgage loan
Method of drawing on the loan:
  • for a specific purpose (with submission of specific documents proving the purpose of drawing)
    • to the account stipulated in the purchase contract (in the case of purchase)
    • to suppliers' accounts (in the case of construction/reconstruction)
    • to a current account (in the case of reimbursement or drawing on the non-specific part of the loan)
  • as a deposit (without submission of specific accounting documents – this only relates to reconstruction) to the client's current account
    • as a deposit, the loan can be drawn on up to the maximum level of 85% of the current price of the mortgaged real estate, up to max. CZK 2 mil.
    • on a one-off basis, the loan can be drawn on up to a maximum level of 70% of the current price of the mortgaged real estate
    • the remaining part can be drawn on after submission of proof of actual performance of reconstruction work drawn up by a bank assessor
Repayment of the 2 in 1 Mortgage:
  • a fixed interest rate is used for the 2 in 1 Mortgage over the period of validity of the interest conditions (1 to 10 years and 15 years from signature of the loan contract)
  • the 2 in 1 Mortgage is repaid monthly  in the form of annuity amounts (always as of the 10th or 15th day in the month), not until complete drawing on the loan
  • maturity: from 5 to 30 years
  • the 2 in 1 Mortgage can also be provided as a Flexible Mortgage thus providing the option of deferring the start of repayment by up to 12 months, decreasing or increasing the level of monthly instalments or interrupting repayment by up to 3 months
  • this type of loan must be secured using right of lien to real estate, which must be insured and the premium endorsed in favour of KB, the real estate must be located within the territory of CZ
  • a condition for gaining the loan is a current account for natural persons – individuals in CZK held with KB for the whole duration of the loan transaction

Advantages of a 2 in 1 Mortgage:

  • you also gain finances, not only to purchase real estate, but for anything else for the same low interest rate
  • non-specific loan of up to CZK 400,000
  • you can also use the advantages of the Flexible Mortgage – possibility of deferring the start of repayment by up to 12 months, possibility of increasing or decreasing the level of your monthly instalments at any time and the possibility of deferring an instalment for 1 to 3 months
  • we can lend you up to 100% of the required amount
  • deduction of interest paid from your tax base (maximum of CZK 300,000 per year)
  • we can ensure all-inclusive services for you at one branch and valuation of the real estate and including obtaining the Ownership Deed from the Real Estate Register
  • you gain a discount on the interest rate if you arrange KP risk life insurance at branches of KB
  • you can also use the Mortgage for financing of secondary costs up to the level of 50% of the level of the loan

A 2 in 1 Mortgage allows you to:

  • gain additional finances, which you can use for any purpose related to the respective real estate
  • resolve the issue of housing, reconstruct or modernise real estate
  • settle co-ownership or inheritance claims towards real estate
  • repay older loans or credit provided for investment into real estate

Representative example

For better clarity, we have prepared an advertising offer, which includes a representative example.

How to get a 2 in 1 Mortgage?

  • contact your relationship manager
  • call the toll-free KB Info line on 800 521 521

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