Id be interested to know how he secured a mortgage at interest rate of 4.9%. Ive purchased a unit in Universal Apartments but the lowest mortgage rate that Hypocentrum have found for me is more like 8%.

Has anyone else found any better deals?

Hi James,

I managed to get a 1 year fix at 5.64% or a 5 year fix at 6.23% with VUB Bank. I went for the 1 year fix.

8% sounds way too high.

Let me know if you need any other info

Kos

Thanks Kos

How did you source this deal? I assume you didnt use Hypocentrum?

Do you have any contacts at this bank I could get in touch with?

I asked Hypocentrum several times whether they could find a mortgage with lower interest rate but to no avail, the latest offers I received from them which I deemed a bit high are as follows:

"Please could you let me know if you prefer 1 year fixation of interest rate 7,09% p.a. or 5 year fixation of interest rate 7,49% p.a.."

Has anyone else experienced any better interest rate offers?

Hi James,

I went through a broker (not Hypocentrum) whose details I am happy to pass on but isn't there some sort of ban on doing this on this forum? (sorry I am newish to the forum and I am unsure about this)

If not I'll gladly supply all details.

Let me know

Kos

Hi Kos

Post away. I'm 'relaxing' that particular rule where it relates tohelping clients find the finance they need at the best rates they can get.

Cheers

Thanks Ben,

James,

The broker is Iveta Siskova-Popovicova at a company called Bond. Email is mortgage@bondreality.sk. Tell her that I sent you.

Good luck with getting a better rate!

Let me know if you need any other information.

Kos

Hi James. I also used Hypocentrum and got a 1yr fixed at 7.59% with the Tatra Banka. Far too high as my mortgage repayments are 40,843.00 SKK monthly. I just have to pay the huge shortfall which for me is not a good investment.
Lynn R

Thats probably same deal they got for me, although upon quizzing Hypocentrum they did say it was more to do with my employment status, Im a freelance IT Contractor which means I pay the majority of my income in dividends. Slovakian banks want to see salary paid in every month and although I have a salary paid in its nowhere near what I pay myself in dividends.

Ive made some enquiries elsewhere but I think theyll lead up the same path, and since Hypocentrum already hold a POA for me I'm reluctant to go to all the hassle of re-arranging with someone else, getting another POA, sending all the docs abroad again etc etc.

So I guess Ill be subsidising this investment too!

Have you had any feedback on progress and handover details etc?

Also, it is a known fact in Slovakia. (I have many slovakian friends and tenants) that nationals will get 4.9% but it mostly includes a sum under the counter as well!!
Lynn R

Could you please let us know what fees your mortgage broker charged you.

Brokers are free (paid by the banks) in the Czech Rep. but that does not always seem the case in Slovakia

Thanks