it's from hyposervis. i need to get an offer sorted out as i want to take a year off work and so won't be in employment when it's time to get the mortgage from forest park. dillon werry said apparantly i could get a mortgage off that was fixed for 2 years on the following terms. i'd really appreciate it if anyone has any input/comments..

thanks very much!

offer:

Loan 2,321,998 Czech Crowns (90%) of your purchase price
3 year fixation period
30 year maturity
Bank set-up fee - nothing (Saving you around 19000 Czech Crowns)
Interest rate - 5.39%
Monthly Payments - 13,024 Czech Crowns
Monthly admin fees approx 250 CzK monthly (inclusive of internet banking)
Property insurance will be required for this loan
Hyposervis Fee - 20 000 Czech Crowns plus 19% VAT

fiona it seems ok from my perspective.

I'm self employed and recently took a 5.55% mortgage (90% LTV) which is fixed for 5 years. The rates are a little higher the longer you fix so your 3 year rate seems to be consistent with what I would expect. It seems like a good idea to fix your mortgage with interest rate rises anticipated in the Czech Republic to combat inflation.

Thanks a lot for replying.

what do you think about the fact that they are going to give me two years to take up this offer. no one else has heard of this but Dillon Werry assures me it can be done..

I'll need to take it in roughty a year..

thanks

the latest info I have is that the Forest Park project will be completed in Q3 2008 in which case now is about the right time to start obtaining mortgage.

Fiona

I learnt recently that it is indeed possible to get an agreement on terms in place well before you need the mortgage. I'm not sure of how long it lasts - but 2 years seems right from memory.

I'm pretty sure you're ok with this.

I would advise calling i-PA (assuming you have taken the LCS) and getting them to confirm, but yes...it's not news to me.