Credit Recipient

  • Special project company established for the purpose of execution of a particular housing project

Purpose of Credit

  • Construction or reconstruction of a housing project designated for sale

Amount of Credit

  • Max. 80% of the total investment costs including all secondary and financial costs

Currencies in which the credit can be provided

  • CZK
  • EUR
  • Other – on condition that the incomes from sale will be in these currencies

How much it costs

  • The credit is subjected to a variable interest rate which can be linked to 1-6 month PRIBOR (EUROBOR, LIBOR)
  • Processing fee payable before the credit disbursement, its amount is dependent on the complexity of a particular case
  • Obligation commission for the readiness of financial resources payable after the conditions for the credit disbursement are fulfilled

Credit Repayment

  • Period of construction + 1 year, the total of not more than 3 years
  • Repayment from the sale of residential and possibly non-residential units and family houses

Credit Disbursement

  • Cashless, according to the process of construction works, based on presented invoices

Security

  • Pledging the financed property
  • Appointing the Bank as the beneficiary of claims from an insurance policy for the real estate property
  • Assignment of receivables from concluded purchase agreements
  • Agreement on direct enforceability of debt in the form of a notary record
  • Declaration on subordination of debt
  • Or other securing instruments

Contacts:

Tel: +420 221 969 901
Fax: +420 221 969 951
Email: immobilien@volksbank.cz