Consolidation of existing mortgages and loans
Take advantage of combining your loans into one mortgage.
- Reduce your monthly expenses thanks to combining several debts into one.
- No need to present your income statement - in case the applicant’s amortization history in the Credit Bureau Register has been in good standing for the past 8 months.
- Long-term loan repayment period up to 30 years, general purpose loan up to 25 years.
Consolidation of existing mortgages and loans – IQ Mortgage MULTI
- Examples of using an IQ Mortgage MULTI
- Who is a mortgage loan for?
- Documents required
- Mortgage repayment insurance
- Additional information
|Maximum loan amount (LTV)||90 % of the collateral value of the property|
|Type of interest rate||fixed|
|floating (only for consolidation of purpose specific loan)|
|Minimum loan value||CZK 250,000|
|Maximum loan value||CZK 12.5 million|
|Minimum repayment term||4 years|
|Maximum repayment term||30 years for consolidation of purpose specific loan|
|25 years for consolidation of general purpose loan|
|Fixed interest rate period||1, 2, 3, 4, 5, 10, 15, 20 years|
|Repayment||In case of a fixed interest rate – monthly annuity instalments|
|In case of a floating interest rate – monthly linear instalments|
|Collateral||A lien on a property located in the Czech Republic (Overview of accepted collateral)|
|Required Insurance||Insurance of the mortgaged property|
|Current Account at Expobank||Yes|
LTV = the ratio of the loan and the property’s collateral value
Examples of using an IQ Mortgage MULTI
- Consolidation of more mortgage loans for investment in real estate from banks and building societies into one.
- Consolidation of more general purpose mortgages and consumer loans into one mortgage loan.
Who is a mortgage loan for?
- Citizens of the Czech Republic or EU
- Other foreigners with permanent or temporary residence in the Czech Republic
- Minimum 18 years old, no negative record in the Credit Bureau
- Minimum monthly net income CZK 10,000
- Current employment contract for at least 3 months, self-employed persons must have been conducting business for at least 2 years
- Completed mortgage application
- One Identification Document
- Income statement confirming the salary – employees
- Tax return for the last taxation period – self-employed persons
- Documents pertaining to the mortgaged property/ purpose of the loan
If the property is co-owned by spouses, a mortgage application must be made jointly by both spouses.
Additional documents may be required in case of non-standard income, loan purpose or collateral.
Mortgage repayment insurance
You can opt for one insurance plan:
- Payment protection against the inability to pay instalments due to death, third degree of disability and incapacity for work.
- Payment protection against the inability to pay instalments due to death, third degree of disability, incapacity for work and unemployment.
Available only for mortgages with fixed interest rate.
Call 800 700 800 or visit any branch for more detailed information on mortgage loans.