I have 3 units in Prague (1 in Eucon bought through PS 4 years ago and 2 in Central Park Prague bought 4 years ago via a third party company). I have seen various comments re 90% LTV mortgages for foreign buyers with a Czech Residency/EU card but I've not come across anyone who has sourced one - has anyone from the PS community managed to get 90%? I've just managed to get 85% via Star Capital Finance (SCF) in Prague for my 2 CPP units completing in Phase 1 in April and was led to believe that this is the highest a foreign national would get even with the Czech Residency/EU card.

I'm happy with 85% but noticed that PS stated up to 90% Finance in p3 of its CPP prospectus and would like to know how you get it? Comments please.

Re the Eucon apartment, I have a 75% LTV mortgage on a 3 year fixed rate via my sro limited compnay which I'll transfer into my own name in 18 months time (ie. end of product redemption fees) paying the 3% (I think it's 3%) transfer fee which is a bit of a pain but will refinance onto a 25 year, 85% LTV capital repayment mortgage in my own name.

I also have read in several quarters, including in PS, that interest only mortgages should hit soon in Czech Republic. I read this 3 years ago and have been reliably informed by SCF and other brokers that it won't happen soon. I personally don't mind but don't get your hopes up or rely on it happening to make your numbers work- if it does happen in the next 1 to 2 years then consider it a huge bonus and it will have a real positive effect on capital prices - see Denmark 2 years ago when widespread interest only mortgages kicked in for the first time..

I welcome comments form fellow members and PS.
Happy investing
Dom

Dom

I find it is limited by the Czech valuations (which tend to be conservative) so if the valuer gives a valuation of only 90-95% of the purchase price, this is very common, then your effective LTV of 90% is based on 90% of only the valuation figure so ends up as 80 something %. Having said that my units in Kosmova, Brno were valued at the purchase price so I got a true 90% LTV via SCF so it is possible.

Hope that helps
Antony