Mortgage lending
The right mortgage must meet two criteria: a small percentage and a long term. This is the kind of mortgage you can get in Slovakia.
Price: free
Mortgages are a very popular tool for purchasing real estate among the local population. Slovaks can get a mortgage at 0.4% per annum. Many families have 3-5 mortgages, rent out property and get a decent profit on top. As for foreigners, they can get a mortgage at 1.09% per annum for up to 30 years.
Each bank has its own conditions for granting a loan for the purchase of real estate. Our licensed financial consultant will analyze your case and suggest a bank that will provide the best conditions for the client. The specialist will prepare all documents for applying for a mortgage, accompany the signing of agreements with the bank, and control the transfer of money to accounts.
The services of a financial advisor are free of charge for the client. He receives commissions within the framework of cooperation with all banks. When drawing up an individual financial plan, we also plan and calculate the receipt of a mortgage, if this corresponds to the client’s goals.
Who can get a mortgage in Slovakia?
The Slovaks themselves, as well as foreigners who have a residence permit or permanent residence in Slovakia, are employed or are entrepreneurs who have submitted at least one tax report for a full calendar year. Our company also professionally provides support services in obtaining a temporary residence permit in Slovakia.
Why is the interest rate on mortgages so low in Slovakia?
Available financing is primarily due to the low interest rate on mortgages at the level 0,4%-1,09% per annum. This is due to the fact that the European Central Bank (ECB) issues loans to the National Banks of the EU countries at a zero interest rate, and they, in turn, through commercial banks, stimulate the economy of their country. It is also necessary to take into account the fact that a normal market competitive environment between banks has been created in Slovakia. Each of them fights for the client and from time to time enters the market with a promotional offer at an interest rate, adding to this also compensation to the client of a fine for early repayment of an existing mortgage in a competitor bank during refinancing. The next factor is that the mortgage itself is not a risky credit product for the bank, because it is secured by mortgaged real estate and in case of insolvency of the client, by selling real estate at an auction, it will calmly return the funds issued to the client.
Interest rate table
Type | ČSOB | mBank | Prima banka | SLSP | UniCredit | VUB |
|---|---|---|---|---|---|---|
3R FIX | 1,5% | 1,64% | 0,6% | 1.49% | 1,89% | 1,09% |
45M FIX | - | - | - | - | - | - |
4R FIX | 1,85% | - | - | - | 1,99% | - |
5R FIX | 1,85% | 1,84% | 0,9% | 1,69% | 1,99% | 1,39% |
6R FIX | - | - | - | - | - | 2,09% |
7R FIX | - | 2,34% | 1,2% | - | 1,99% | - |
8R FIX | - | - | - | - | - | 2,19% |
10R FIX | 2,25% | 2,94% | - | 2,29% | 1,99% | 1,99% |
15R FIX | 2,45% | - | - | 2,69% | - | - |
20R FIX | 2,75% | - | - | - | - | - |
Why is it better to work with a financial advisor?
It is very popular in Slovakia. Almost no one takes a mortgage from a bank directly. A financial consultant knows the conditions of all banks, negotiates with them on behalf of the client, knows all the nuances and pitfalls. He is not interested in selling a particular bank to the client, since in any case he will receive his commission, regardless of which bank the mortgage is issued with. His main task is to find the best conditions for the client among all banks. It is also a big advantage that a mortgage expert in the future can offer the client more favorable conditions in another bank, and help re-register a mortgage with this bank, as he constantly keeps a “hand on the pulse” and is aware of all changes and promotional offers from banks .
Financial advisor is a licensed activity in Slovakia. In order to become a consultant, you need to undergo serious training and pass exams, get a license from the People’s Bank of Slovakia. You can check the license of a financial consultant in the registry – https://regfap.nbs.sk/search.php
