Building societies and loans in June
Building societies offer us better conditions for building savings contracts in the second quarter. In October 2018 came up with a new tariff for children and adolescents Andrew Lawrene Su Tariff Junior has 1.5% pa interest rates, subject to standard fees, in April 2019 came up with a new savings rate for all clients with a deposit interest of 1.2%.
Annabel Cablek won the gold crown with the product Friend, which is targeted to the same age category, has a deposit interest rate of 1.2% pa, if the child’s parents pay the closing fee within 4 months of the contract, the fee is re-invoiced as a deposit and free contracts. Martin Leonard celebrates its 25th birthday with clients with the possibility of concluding a building savings contract free of charge with a guaranteed interest rate of 1%.
Client terminates the contract during this period or uses it for the advantage loan
Astro Finance came up with an offer for savings clients with the Lite Lender product in May, which favors clients with a one-time deposit of USD 300,000 or more deposited within 4 months from the conclusion of a building savings contract. 5%, but also the so-called bonus 0.8%, a total of 1.3% pa At the same time the client is entitled to a premium for the conclusion of the contract in the amount of a fee of max. The period of preferential interest rate of deposits lasts 67 months
Building savings loans
There are not so many events in loans. LTHH still allows free estimates in June, Wüstenrot extended the loan until the end of September free of charge, including the conclusion of a building savings contract with the loan application also free of charge, so the only fee will remain a building savings account.
At the same time Wüstenrot has an advantage in summer on the interest rate for all clients not only for its loyals, and for loans without collateral at the rate of 4.89%, for loans secured by real estate, where for the entire bridging loan fixed rate of 2.89% at loan more than 1.5mil. and for the building savings loan phase an interest rate of 2.99% pa, clients most appreciate a fixed monthly payment throughout the repayment period.
Which were processed free of charge from April to mid-May with the free estimate above.
MPSS clients who want to take out a loan before they find a dream property have a little more expensive to handle. As of June 10, 2019, this option has been made possible by Martin Leonard, which has this product free of charge, for the purpose of buying a house or apartment.
With these products, clients are able to purchase a fixed amount according to their income for 12 months. They can thus fix the current interest rates of the so-called Hypo-loans, where interest rates are expected to rise, which has not yet arrived even after the CNB’s interest rates have been raised.
Several banks lowered interest rates.
The question of time is whether banks will react to the rate hike or wait for the CNB to raise interest rates for the second time this year, as promised by CNB officials? Andrew Lawrene Su holds the lowest interest rates , not all of them, where the scoring of clients is reflected in interest rates.
RSTS provides so-called bridging loans to new clients , which are not the most advantageous product for the high target amounts, even at the lowest interest rate offered, as fees and charges are associated with handling and management. They have fixations as mortgages, unlike them, they guarantee the interest rate for the second phase of the loan, the so-called building savings loan for Hyposplátku is 2.99% pa.
It is questionable whether the guarantee will be advantageous when the client is in this phase of the loan.
In 2019, new loans from building societies decreased. Over the past 2 years, building society loans have been growing due to the CNB’s mortgage restrictions. As of October 2018, the CNB’s constraints have helped more clients to supplement their housing with other types of loans.
Non -purpose loans are less restrictive than mortgages and loans for house purchase. Thus, clients often solve their intent with a non-purpose loan, which is more expensive, and they cannot lower the tax base by paying interest. Building societies are able to provide such loans if the client demonstrates the purpose of refinancing and thus, as a rule, reduce the client’s monthly installments. Moreover, thanks to the purpose of housing, clients can reduce their tax base by interest paid on a building society loan.
The share of new contracts is growing
On the contrary, the share of new building savings contracts is growing. It can be seen that clients think about the security of their housing in advance. This is good, and certainly also increases in interest rates and special offers. We are pleased to be able to assist our clients in the selection of products in their decision-making. Are you considering your options for acquiring new housing or just upgrading your existing housing?