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Financing optionsfor buying an apartment

We offer the widest range of financing options on the Czech new housing market. After signing the contract, you pay only 10 % of the purchase price and for the balance you can use a mortgage, Individual Financing or the option of Combined Financing with a mortgage for 80 % of the price. We are the only real estate developer on the market that makes it possible for clients to move into their completed apartments prior to paying the full purchase price.

TYPES OF FINANCING

Basic Financing

  • 50,000 CZK within 7 days of signing the contract
  • up to 95 % of the price within 30 days of signing the contract
  • 5 % within 7 days before the deadline for the handover (for completed dwellings undergoing the final form within 30 days of signing the contract)

Credit Financing

  • 50,000 CZK within 7 days of signing the contract
  • at least 10 % of the price within 30 days of signing the contract
  • the balance of the price from a mortgage in agreed installments

Our mortgage specialists provide consultations entirely free of charge and they are available throughout the entire process. Our close cooperation with the largest banks allows us to offer all our clients the most advantageous interest rates. Financing a home in our own projects ensures that the contractual arrangements of the loan are in agreement with the contract for the chosen apartment. With the CENTRAL GROUP Preferred Mortgage everything is managed without any unnecessary complications or worries.

Individual Financing

  • 50,000 CZK within 7 days of signing the contract
  • at least 10 % of the price within 30 days of signing the contract*
  • the balance any time the client wishes within 12 months from the handover of the finished apartment

Individual financing therefore allows you to resolve your financial situation (e.g. selling a current home, settling relations between couples after divorce or relations between partners during the sale of a firm, estate settlements, etc.).

* The condition for transferring the completed apartment with only 10 % of the purchase price paid is always individual and requires a positive evaluation from CENTRAL GROUP on the potential for the future payment of the purchase price, otherwise the transfer of the completed apartment requires the payment of at least 20 % of the purchase price.

Combined Financing with a mortgage of 80 %

  • 50,000 CZK within 7 days of signing the contract
  • at least 10 % of the price within 30 days of signing the contract
  • another 10 % with your own money saved up for 3 years
  • the balance – you do not draw the mortgage until you have saved up the money (no later than the 4th year onwards)
  • Good for those who do not have enough money for an 80 % mortgage.
  • Central Group Combined Financing keeps the financial burden on households from drastically increasing and helps avoid the accumulation of several loan installments
  • You put down a deposit of 10 % and arrange an 80 % mortgage
  • You draw the actual mortgage and begin repaying it after saving up the other 10 % no later than the fourth year
  • In the case of completed apartments, you can move in immediately

An example of financing your new apartment using Combined Financing with an 80 % mortgage

Price of the apartment 4,000,000 CZK 6,000,000 CZK
10 % with your money 400,000 CZK 600,000 CZK
Another 10 % in monthly installments for up to 3 years 11,111 CZK 16,667 CZK
Mortgage installment from the 4th year onwards 13.303 CZK 19.953 CZK

Completion means the state of construction where the Building Authority is asked to issue an occupancy permit for the apartment building. Undergoing the final form means the state of construction where the interior doors and the floors are being installed in the apartment.

The prices given for completed dwellings are valid for choosing Basic Financing and Credit Financing. In the event the client chooses Combined Financing with an 80 % mortgage or Individual Financing, the purchase price can be higher given the risk involved and the increased costs for CENTRAL GROUP connected to the fact that the client will receive the apartment prior to receiving the deed of ownership to it.

For a property under construction the prices are valid for choosing Basic Financing. In the event the client chooses Credit Financing, Combined Financing with an 80 % mortgage or Individual Financing, the purchase price can be higher because of the increased administrative costs involved in procuring the loan for the client through a lien and the risk taken on by CENTRAL GROUP connected to encumbering the property with a lien for the purpose of securing the loan for the client or because of the risk involved and the increased costs for CENTRAL GROUP connected to the fact that the client will receive the apartment prior to receiving the deed of ownership to it.

What are the benefits of the CENTRAL GROUP Preferred Mortgage?

  • Saving time and money
  • The best interest rates from the largest banks
  • Termination of the contract without any penalties
  • We watch out for all obligations and deadlines
  • Drawing a mortgage without worries
  • We ensure the agreement of the contractual documents