Intro
Slovakia's mortgage market has emerged significantly over the
past year with an increasing number of banks willing to lend to non
residents. This has therefore made the market more accessible
to investors.
Availability
There are now 3 major lenders in Slovakia with more expected to
come on line in the coming years. With each bank trying to secure
new investors, competition is high meaning average mortgage rates
have gone down. As the market is still emerging, the option of
interest only mortgages is not yet available.
Cost
Some of the banks charge an arrangement fee which can range
anywhere between 0.5% and 1% depending on your job, your salary and
which lender is selected. Other costs that you need to take into
consideration are broker fees which are typically £495 on
application and 0.5% on completion.
Application Process
Frontiers Financial Services will initially assess whether a
bank will be able to lend to you. Once we have done this we
will be able to tell you how much your mortgage repayments will be.
When you choose to proceed we will ask you to gather all your
documents and we will submit this to the bank and track your
mortgage. The bank will aim to make a decision on your application
within 10-14 working days.
Mortgage Finance from Frontiers Financial Services
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