Wednesday May 25, 2022

Punish the bank’s mortgage payment. Sanctions go to statisc

Failure of the payment calendar in the form of an extraordinary payment of the mortgage can usually be replaced. Prepare the bank for your expected returns with your decision. There will be nothing else but to punish with a ton of fees. It is better to avoid the sanction and enshrine the possibility of extraordinary repayments in the contract.

People in the Czech Republic take mortgages on average for 20 and 25 years and most often choose this five-year fixation. During this time, they are sure of the same rate in years and in installments. They can thus fulfill the family budget for several years in advance.

Pi mimodn spltce bance arise additional nklady

Security in installments is also important for the bank, which is why it fines clients heavily at the moment when they decide to intervene in the set installment calendar with an extraordinary installment and a temporary castle for the entire balance of the house. This is because the bank incurs additional costs during the early repayment of the debts, because it had to pay itself to provide the debts to the client, for example by issuing mortgage bonds and their holders have to pay the agreed years.

Each of the banks uses its own algorithm for the calculation in the fee. Although they approach clients individually, it is not possible for the client to know the specific fee and at the moment when he decides on an extraordinary payment. “It is basically a matter of compromise between the fact that the fee is tangible for the client, that it is transparent and that its size is known in advance. At the same time, it is up to you to cover the costs that we have associated with the extraordinary installment, ”explains Irena Zatloukalov from Hypoten banka.

Construction of a fee for extraordinary mortgage payment during fixation
Bank Charge
esk spoitelna a fee in the amount of several years for the period from the receipt of extraordinary installments until the end of the validity of the fixed year rate
UNDER, Potovn spoitelna 5% of the current installment for each year beginning before the end of the validity of the rate years
GE Money Bank 5% of the year by the end of the annual period
Mortgage bank 5% of the outstanding installment for each start of the year before the end of the validity of the rate or fixed derogation
Komern bank calculate individually according to the specific case
LBBW Bank 5% of the pedestrian payment, min. 5 thousand crowns
Raiffeisenbank 10% of the pedestrian payment
UniCredit Bank 1% of the early repayment of the principal for each year started by the date of the rate refix
Volksbank 0.25% of the early repayment of the fee for each early repayment of the remaining funds until the end of the rate fixation
Wstenrot hypoten banka 10% of the pedestrian payment
Source: banks; Note: mBank did not respond to the information provided

Some banks, such as Hypoten banka and Wstenrot, do not charge clients a fee for a temporary installment in certain cases (arising from the value of the mortgage at the time the mortgage is provided).

“If the client has chosen Hypoten up to 100 percent, or 85 percent of the mortgage value of the property, he can at any time make an extraordinary payment so that he gets to 70 percent of the mortgage value of the property. In other words, over 70 percent of the client can be repaid at any time and without penalties, ”explains Irena Zatloukalov. “For example, with a 100 percent mortgage in the amount of one million crowns, 300 thousand crowns can be repaid free of charge, ie 30 percent,” adds Helena Dukov from Wstenrot hypoten banka.

See how much you pay specifically

For an idea of ​​how high the client will pay the mortgage when paying the mortgage in advance and paying it in an extraordinary installment, we have prepared two specific examples.

In the first, the client has a mortgage with an annual rate of 4.89 percent fixed for five years. His fixation was published in the spring of 2014, so the rest of the year, 42 msc. I have to pay 550 thousand. How the banks would charge him fees for early repayment of the entire balance, see the table.

In the second case, the client satisfies the mortgage with an annual rate of 5.29 percent, fixed at five years. The end of the fixed period is in three years (36 msc). The client is required to repay CZK 1,600,000. How the banks would charge him fees in the event of an extraordinary installment of 300 thousand crowns paid before the fixation, see the table.

Mortgage repayment fees (in korunch)
Bank Pedasn paid mortgages in vi
550 thousand crowns
Mimodn spicy spltka ve vi
300 thousand crowns
UNDER Potovn spoitelna 110 000 45 000
GE Money Bank 110 000 45 000
Mortgage bank 110 000 45 000
LBBW Bank 27 500 15 000
Raiffeisenbank 55 000 30 000
UniCredit Bank 107 000 47 000
Volksbank 57 750 27 000
Wstenrot h.b. 55 000 30 000
Source: banks; Note: mBank did not respond to the information provided; esk spoitelna and Komern banka did not provide data. According to the editorial office, in the first case, the fee at esk spořitelna will be around 80 thousand crowns. Komern banka charges individually according to the specific case.

It is better to sweat the pedal with the pedal float

Penalty fees in tens and hundreds of thousands of crowns indicate that the repayment before the expiration of the fixation will give a different type to the budget. To avoid charges, you have several options to choose from. If you are not in a situation where you need to terminate the mortgage, it will be most appropriate to postpone the extraordinary installment to the time when the fixation of the end and the pension in the meantime will be evaluated on savings, term deposits and short-term investments.

If you know in advance that you will also have a pension available for a temporary installment, you can arrange it several times, for example to fix it. If so, many banks will be able to enshrine in the contract the possibility of extraordinary installments. For example, Hypoten banka will allow you to repay and pay 50 percent of the agreed amount, for which you pay a fee of one percent of the agreed principal payment. Or you can arrange the service of Extraordinary Payment for a mortgage with a ten-year fixation. Then you may pay once a year and ten percent of the current principal balance. You do not pay anything for the agreed services.

Raiffeisenbank will be able to pay the installment once a year with the Turbo installment, when you can pay the maximum quarter of the principal free of charge. If you arrange a Turbo repayment enough for a mortgage, then you will know that you will have a one-year percentage rate more than a standard mortgage.

GE Money Bank offers clients a free deposit of 25 percent per annum, no more than once a year.

If you arrange an Extraordinary Installment for the Ideln mortgage esk spoitelny, you can make a free early payment as you wish. It’s just not free for this oven, the price of the service vs will cost 1,999 crowns and in addition you will pay 149 crowns for each month.

For clients who want to take out a mortgage with Komern banka, the bank offers a flexible mortgage. Umon without penalty fast early repayment of the guarantee of repeated extraordinary installments and 20 percent of the mortgage.

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