Skip to content
header_logo
  • Mortgage calculator
  • Articles
  • Mortgage
  • Career
  • Our team
  • Log In

Loan shark

New mortgage
Refinance
Hroch
Rate from
5,69 %

hyponamiru.cz / Glossaries / Loan shark

A loan shark is a person who provides loans at an obscenely high interest rate, and unfortunately often takes advantage of the loan applicant’s unfavourable situation.

What is usury?

Usury is also sometimes referred to as usury and is an obligation that is disproportionate to the gain obtained by the obligation. It is often associated with non-banking institutions, as interest rates can be in the higher tens or hundreds of percent per annum.

High fees, unrealistic repayment terms and late payment penalties are also often hidden in a loan agreement from a loan shark.

Did you know that all loan providers in the Czech Republic have to be licensed by the CNB, so usury is operating on the edge of the law here?

Usury and the Criminal Code

Section 218 states who is a usurer and what the penalties are for such conduct. A usurer is defined here as one who takes advantage of someone’s weakness, distress, inexperience, recklessness or excitement and promises to himself or someone else a benefit whose value is grossly disproportionate to the value of the consideration. Similarly, a person shall be deemed to be a usurer who asserts or transfers such a claim to himself with the intention of asserting it.

Arrange a mortgage safely online
  • Online mortgage arrangement
  • Online mortgage specialist support
  • Better conditions
  • User-friendly mortgage banking

CZK0

That's how much we gave out to our clients in bonuses ?

Wrote about us

★ ★ ★ ★ ★
Rating: 4.9 | 10 reviews
All reviews
More articles

Don't miss

Mortgage should be chosen with a strategy in mind

A mortgage is always a long run. Before you start looking for a mortgage, work with a mortgage specialist to develop a suitable strategy.

zulevic | 23. 5. 2022 | 3 minuty to read

HypoNews: arranging an online mortgage, mortgage for foreigners#March2022

Hyponamíru, the online mortgage and online refinance specialist, brings you this year's third installment of HypoNews, your guide to the world of mortgages. As always,…

Ing. Filip Křivánek | 29. 3. 2022 | 5 minuty to read

Mortgage for foreigners: how to get it?

Foreigners can also apply for a mortgage to purchase their own property in the Czech Republic. Each bank follows its own methodology when assessing mortgage…

Roman Muller | 28. 3. 2022

How to sell a property for which there is a mortgage

There are a number of reasons that lead people to sell a mortgaged property. If you are now planning to sell your apartment or family…

Roman Muller | 24. 3. 2022 | 5 minut to read

První kroky k nové hypotéce

Tak, jako rodiče pomáhají svým dětem s prvními krůčky a chrání je před pádem, my pomáháme lidem k vysněnému bydlení. Provedeme vás celým procesem získání výhodné hypotéky. Od začátku, až do konce, bez zakopnutí.

 

Za lepší hypotékou
logo bez pozadi

– For better mortgage

Hanusova 1411/18 | 140 00 Prague |  info@hyponamiru.cz | 800 688 388 | Branches and contacts

  • hyponamiru_mala_ikona

    FAQ

  • hyponamiru_mala_ikona

    Glossary of terms

  • hyponamiru_mala_ikona

    Representative example

  • hyponamiru_mala_ikona

    Guide

  • hyponamiru_mala_ikona

    Partners

  • hyponamiru_mala_ikona

    Watchdog

  • hyponamiru_mala_ikona

    Published about us

  • hyponamiru_mala_ikona

    Press kit

  • hyponamiru_mala_ikona

    Reviews

  • hyponamiru_mala_ikona

    Privacy policy

  • hyponamiru_mala_ikona

    Cookies

  • hyponamiru_mala_ikona

    Terms and conditions

Frequently asked questions

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.

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.

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.

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.

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.