Slovakia Mortgages
The mortgage market in Slovakia has improved over the last few years and whilst not being quite as developed as the Czech mortgage market it is still one of the better mortgage markets in Central and Eastern Europe.
We see mortgages in Slovakia continuing to improve over the coming years.
Highlights of the Slovak mortgage market
- 90% LTV finance is possible
- interest rates typically between 5 - 7%
- 30 year terms possible
- upfront costs 0.5 - 1.0%
- mortgages available for self-employed persons
- refinance is available
- currently interest only mortgages are not available
Obtaining mortgages for multiple properties is not a given, and some investors choose to buy property through a company and take out a corporate loan.
It is possible to get a Slovak mortgage as a self-employed non-resident, however, the process can take a little longer.
Please contact us for a mortgage quote.
Slovak Mortgage Data table
| Base rate | 4.25% |
| LTV Max | 90 - 100% |
| LTV Typical | 70-90% |
| Interest Rates Typical | 5 - 7% |
| Term Max | 30 years |
| Term Typical | 20 years |
| Bank Fees | 0.5 - 1.0% |
| Currencies | Euro, SKK |
| Time taken to obtain | 2-3 months |
| Mortgage debt to GDP ratio | 9.6% (2006) |
| Mortgage lending growth | 2004: 82% 2005: 40% 2006: 32% |
| Mortgage lending volume | 2006: 4.1 billion Euros |
| Refinance? | Yes |
| Self-employed? | Yes |
| Non-status? | No |
| Interest only? | No |