Mortgage Loan Guide

• 1. Meeting

  Meeting us

  When meeting the mortgage loan specialist for the first time, you will get the basic information concerning the terms of granting a mortgage loan.

  The mortgage loan specialist:

  • will provide you with all the necessary information about receiving a mortgage loan
  • will prepare a Mortgage loan offer according to your requirements and recommend the most suitable solution to you
  • will pass on to you the List of documents, in which he/she will mark for you the necessary documents
  • will hand over to you the Application for granting a mortgage loan and an Income confirmation
  • will evaluate your ability to repay the requested mortgage loan and issue to you a Financial standing confirmation in case you are interested and provide information to him/her about your income, expenses, and your household
  • will agree with you on how to proceed

  All the information will be provided to you free of charge.

• 2. Application

  Applying for a mortgage loan

  In case you are satisfied with our offer and you will have all the necessary documents available, the mortgage loan specialist:

  • will verify if your documents are complete and in order
  • will help you to make the Application for a mortgage loan, which you should sign
  • will evaluate your ability to repay the requested loan
  • will arrange for you an assessment of the risk of the collateral (an appraisal of the real-estate). It is necessary that you enable the appraisal of the bank to access the real-estate and that you pay a fee for the assessment of the risk of the collateral
• 3. Signature

  Signing of documents

  We will make a decision to grant a mortgage loan based on the evaluation of your ability to repay the loan. You will be notified about the result of the decision by a bank employee by telephone, or if need, be by a letter. You will be asked to sign the contractual documents in case of a positive evaluation of the application.

  We guarantee the approved interest rate for the period of 20 days from the date of the decision – no matter what the development of rates is on the inter-banking market. We therefore recommend that you take advantage of this offer. You will sign the following documents in the bank:

  • Contract concerning the loan including the General loan conditions
  • Mortgage contract or other security documents (e.g. a declaration of a guarantor, etc.)
  • A proposal for a registration of lien right

  Not until the date of signing the contractual documents will you pay the fee for the processing of the mortgage loan.

• 4. Drawing

  Drawing of the loan

  The terms of the contract must be fulfilled before the financial resources can be released. After they are fulfilled and after the “Application for Drawing a Loan” is submitted, the bank will transfer the financial resources to:

  • the account of the seller (in case of a purchase or settlement of joint ownership)
  • the account of the supplier (in case of construction or reconstruction)
  • the account of the creditor (in case of early repayment of a previously granted loan / previously granted credit)
  • your current account (in case of retroactive payment for a real estate investment already paid for)

  The most frequent conditions for the initiation of drawing:

  • Signing the mortgage contract and registration of a lien right to the real-estate, or presenting a proposal for a registration of a lien right to the real-estate confirmed by a real-estate cadastre
  • Presenting a letter of ownership with the registered lien right (a fee to the cadastral authority for the issue of the letter is CZK 100)
  • Presenting an insurance policy for the real-estate including its immobilization in favour of Komerční banka, a.s.
  • Presenting documents verifying the purpose, e.g. a contract of purchase.

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