UniCredit Bank Czech Republic and Slovakia extended mortgages totalling over CZK 6bn in H1 2016. Demand is expected to grow also for the rest of the year. The average mortgage sum increased to CZK 1.9-2m from CZK 1.7-1.9m in 2016. Refinancing accounted for ca. one fifth of all mortgages. The spokesperson for UCB, Petr Plocek, has told ČIANEWS that the central bank’s measure related to 100% LTV mortgages will not have a major effect on sales in the first phase. Further reduction of the LTV limit under 90% could affect the amount of extended mortgages, though.
