The mortgage market came to life last year and the interest in housing loans is increasing. This is related to the reduction of rates by the European Central Bank (ECB), a gradual decline in commercial interest in Slovak banks, but also to the forecast of further price price increase. This year’s appetite for mortgages should grow an even faster pace, Eva Štebová is supposed to be a loan director at Fingo.sk.
She reminded that Last year, the ECB lowered its key interest rates four times and announced their further decline this week. Slovak banks can also react again to reduce official interest. While the mortgage interest rates started from 4 %last year, people are currently able to get a loan with interest from 3.5 %.
“According to my estimates, commercial interest in banks could fall to 3 %this year. At the same time, the competitive struggle for clients could be more distinguished among financial houses. It should not be forgotten, however, that the promoted top interest is not the only parameter that decides on the benefits of a mortgage. Other conditions of the loan should also be taken into account, which clients often forget, “Sampbova said.
Loan applicants currently most often choose a three -year fixation, with the prospect of further rate reduction. “Even when looking at the amount of the interest offered, clients are worthwhile to the three -year fixation more than a year and five years. In the coming years we assume the gradual fall of interest, so now I consider a three -year fixation to be a reasonable solution, “the expert said.
If one qualifies for a mortgage, it usually gets a maximum of 80 % of the purchase price of the property. Most clients without savings are then financed by the remaining amount of the value of the property by another loan. “However, here, however, we often find that another loan no longer comes out to people from income. The solution may be the help of the loved ones who have the opportunity to provide the bank as further security, unless it is fully burdened with another mortgage.” . In this way, candidates can get more money that can cover the entire purchase price and sometimes the necessary reconstruction or housing facility.
Even in cases where the bank can only approve the applicant after the income assessment, there are various solutions, according to the expert, according to the expert. “Clients can support their creditworthiness to other co -borrings with acceptable income so that they can reach the desired mortgage height. Sometimes a solution is another bank that accepts a higher average of the client’s income or accepts other income. Banks differ in this, “she added.
