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Back and Forth Mortgage

A guaranteed mortgage before you chose your real estate.

The Back and Forth Mortgage is intended for:

  • all those who want to gain an approved mortgage before they have selected a specific item of real estate
  • those who want to gain money for reimbursement of costs already spent on housing
  • citizens of the Czech Republic
  • foreigners with permanent residency in the Czech Republic and non-residents
  • citizens of EU member countries 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 the Back and Forth Mortgage:

  • The Back and Forth Mortgage combines two attractive advantages:
    • The Forth Mortgage
      • a housing loan, which provides you with peace of mind when searching for real estate or when planning reconstruction or modernisation
      • KB approves the loan for you before you select a specific item of real estate
      • the agreed conditions including the interest rate will be guaranteed for you for a period of up to 6 months!
    • The Back Mortgage
      • allows for reimbursement of costs already spent on housing (max. 12 months in arrears)
      • the conditions of the loan are standard (this is not a so-called “American mortgage”)
      • you can use the money for anything
You can use the mortgage to finance:
  • purchase of real estate into your ownership
  • construction of real estate
  • reconstruction, modernisation and repair to real estate intended for the client's own housing requirements
  • The minimum level of the loan is CZK 200,000 and the maximum level is limited by:
    • 85%(max. CZK 8 mil.) or 100% (max CZK 4 mil.) of the price of the mortgaged real estate
    • the total level of investment (budget costs, purchase price etc.)
    • the client's ability to make repayments
  • the validity period for the Forth Mortgage is set at 6 months with the option of extension to a maximum of 9 months from signature of the contract
  • after its expiry and fulfilment of conditions as stipulated in the contract, this mortgage can be “switched” to a standard Mortgage loan or a Flexible mortgage
  • the conditions for the interest rate, drawing on the loan, maturity period, method of repayment etc., are the same as the selected type of subsequent mortgage loan
  • the level of the interest rate applies from the date of signature of the Back and Forth Mortgage contract for the duration of the chosen fixation period

Advantages of the Back and Forth Mortgage:

  • you can conclude a Forth Mortgage during your first visit to KB
  • you do not need to submit documents relating to the real estate or your income, only your personal documents will be checked
  • you can conclude the contract immediately
  • you gain a guarantee of the current interest rate for a period of up to 6 months and thus protect yourself against an increase in rates
  • you have enough time to look for real estate or negotiate with developers etc.
  • you can subsequently change the parameters of the agreed loan (maturity, dates, type of real estate, purpose of the loan and other matters)
  • the Back Mortgage allows for reimbursement of money invested into real estate up to 12 months in arrears – you can use this money for anything you want
  • you can also gain the Back and Forth Mortgage in the form of a Flexible mortgage and gain additional advantages
    • possibility of changing the level of instalments whenever you want according to the current level of income without any additional charges
    • possibility of faster early repayment of the loan in relation to increased instalments with no penalties
    • possibility of gaining free resources for the family budget in relation to decrease in the level of instalments
    • possibility of interrupting repayment by 1 to 3 months
    • possibility of deferring the start of repayment by up to 12 months
    • possibility of gaining up to CZK 400,000 for anything you want if the Back and Forth Mortgage is provided in the 2 in 1 Mortgage alternative
    • 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)
    • provision of all-inclusive services including valuation of the real estate and obtaining the Ownership Deed from the Real Estate Register at one branch
    • you gain a discount on the interest rate if you arrange 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

The Back and Forth Mortgage allows you to:

  • gain a mortgage before you have selected a specific item of real estate
  • gain money for costs already paid for housing
  • invest into real estate
  • resolve the question of housing, reconstruct or modernise real estate

How to get the Back and Forth Mortgage?

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

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