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Credit Committee

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hyponamiru.cz / Glossaries / Credit Committee

Anyone who has ever been to a bank to apply for a loan knows that simply filling out an application is not enough. You need to prove your creditworthiness, sometimes invite a co-applicant, bring various certificates. The decision to refuse or approve the loan then takes some time, because it is often not just the bank employee to whom you have given everything, but the credit committee that decides.

How does the Credit Committee work?

The Loan Committee considers loan applications that are not within the jurisdiction of the Bank’s loan officer or those that require special attention.

Obtaining such a loan is then preceded by a review of the application by members of the credit committee, which consists of senior managers or executives and experienced financial managers. They will recommend a course of action that is consistent with the Bank’s standard lending policy.

co je to úvěrový výbor

How is a credit committee different from a loan committee?

While the credit committee is set up by the banks, the credit committee is a matter for the cooperatives.  It is elected by the credit union’s membership meeting from among the credit union’s members. The committee then decides on:

  • Provision of loans to members according to the statutes
  • Providing guarantees in the form of a surety or financial guarantee for members
  • Securing loans
  • It may also delegate part of the exercise of its powers to other persons in predetermined cases. However, this must be stated in the statutes of the Commission, as well as the manner in which this is to be done.
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Frequently asked questions

With which Czech banks do you have the best experience?

The most client-oriented bank is certainly Hypoteční banka with their speed of request processing, the service quality, the range of checking accounts they offer, and the interface called “Mortgage Zone”. Other such banks include Komerční banka, Moneta and Raiffeisenbank.

How long does it take to arrange a mortgage?

A mortgage can be arranged within a month or three. The whole process usually takes around two months. The reason behind it is mostly the approval process on the side of the banks. However, there’re plenty of possibilities to speed up the mortgage application and we know them. Check it out for yourself.

Can a mortgage be really arranged online?

Yes, it can. Thanks to the latest technology we’re using, you really don’t need to go to the bank to arrange a mortgage. Check it out for yourself.

Do you deal with new mortgages as well as refinancing?

Yes, we deal with both new mortgages as well as refinancing of the existing home mortgage loans. Our specialists will find a solution for you in either case – a solution you can afford.

We facilitate consumer credit as a tied agent registered by CNB under company ID number 05736501. We are also registered as an independent consumer credit broker of commercial company Broker Trust, a.s., company ID number: 26439719.

@ 2023 The company Hypo na míru s.r.o. is registered at the Municipal Court in Prague, file number C 269834, company ID number: 05736501.