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Mortgage brokers wary of 2010

Banks may tighten lending conditions again after 2009 default figures are released

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#1 Posted by

JT Investment
Unregistered user
Nov 6, 2009 10:25 pm CET

I can never understand why expats that live here would use agents to get a mortgage. If you are just off the boat, yes I can understand the reason why. I used an agent once, took the imformation then went back to my normal bank and ask for 20 points lower than what the agent had quoted. Deal done.

#2 Posted by

Nathan Brown
Nov 6, 2009 6:25 am CET

Excellent article and overview of the Czech mortgage market! Our experience has been similar with the difficulty for foreigners to get mortgages when they don't live and receive payment in Czech Republic.

The not accepting valuations at face value has been a frustrating factor the last few months.

It seems the dreaded plunge in property prices is being overdone by the banks as prices did not drop as much as feared. As the mortgage broker mentioned, lenders may try to make up lost ground now. We will see.