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Reverse mortgage

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hyponamiru.cz / Glossaries / Reverse mortgage

You may come across the term reverse mortgage on the internet. While with a conventional mortgage you take out a loan to buy your own property and gradually repay the amount borrowed in regular monthly instalments, with a reverse mortgage you usually get a one-off loan against the mortgage of your own property. A reverse mortgage is also sometimes referred to as a reverse mortgage, upside down mortgage or senior mortgage.

Who is the reverse mortgage for?

Non-bank financial companies arranging reverse mortgages (note: none of the Czech banks offer reverse mortgages) target mainly older lonely people. The minimum entry age for arranging a reverse mortgage is usually 60 years. The senior pledges his/her property to a non-banking company (note: a lifetime easement is also agreed), and continues to use and care for it.

reverzní hypotéka

The loan is repaid after the death of the property owner

In the case of a reverse mortgage, no monthly payments are made and the entire amount owed, including interest, is repaid upon the death of the property owner. The non-banking company will use the proceeds from the sale of the property to satisfy its claim. If the proceeds of the sale exceed the non-banking company’s claim, the remaining amount goes to any heirs.  

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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.

 

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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.

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.

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.

What we do

✅ Processing time:within 24 hours
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✅ Scope:whole Czech Republic - we are online
  • Processing time

    within 24 hours
  • Interest

    Lowest on the market
  • Terms

    Convenient
  • Scope

    whole Czech Republic - we are online

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.