Foreigners in the Czech republic will have easier access to mortgages

One of the Czech bank came out with a new mortgage product exclusively for foreigners. From now on they no longer have to have any type of residence in Czech republic in order to apply for a mortgage. Currently the only requirement is to prove that they have an income in Czech republic for two years. This new product will be helpful for expats working in the Czech Republic.

Applying for a mortgage these days is very convenient since banks are still trying to entice clients by offering them better terms and conditions. Even though the Czech National Bank has increased the prime rate this year the interest rates of mortgages offered by the banks are still decreasing.