Current mortgage
What you currently have at the bank.
New offer
The rate another bank is offering.
When does refinancing a mortgage pay off?
Refinancing a mortgage, that is repaying your loan with a new one from a different bank, pays off when the saving on payments up to the end of the fixation exceeds the cost of switching. That cost is CZK 7,000 to 10,000: valuation (odhad) CZK 3,000 to 6,000, registering the new lien CZK 2,000 and deleting the old one CZK 2,000, or CZK 1,600 each when filed electronically. At the end of the fixation you pay the old bank nothing, so a rate gap below 0.5 pp is enough; mid-fixation you need more.
In the calculator's “Current rate p. a.” field, enter your bank's offer for the next fixation, not the rate you pay today. The bank must send you that letter at least 3 months before the fixation ends. Only then are you comparing two offers for the same period, because the rate from the previous fixation no longer tells you anything. The “Refinancing costs” field should hold CZK 7,000 to 10,000, or less if the new bank pays for the valuation.
Example: balance CZK 3.5 million, 20 years left
Suppose your current bank offers 5.40 % for the next fixation and another bank offers 5.00 %. We calculate the payment with the annuity formula M = P · i / (1 − (1 + i)−n), where P is the balance, i the monthly rate (the annual rate divided by 12) and n the number of months left, here 240. At 5.40 % the payment is CZK 23,879, at 5.00 % CZK 23,098. The saving is about CZK 780 a month, CZK 46,800 over a five-year fixation and CZK 36,800 to 39,800 after costs.
| Rate gap | New payment | Monthly saving | Costs recovered in |
|---|---|---|---|
| 0.2 pp (5.20 %) | CZK 23,487 | CZK 392 | 18–26 months |
| 0.4 pp (5.00 %) | CZK 23,098 | CZK 780 | 9–13 months |
| 0.6 pp (4.80 %) | CZK 22,714 | CZK 1,165 | 6–9 months |
Every 0.2 pp adds about CZK 390 a month on this balance. The calculator above does the same with your numbers and shows the break-even point in the chart.
How big a rate gap is enough?
The often-quoted rule of “at least 0.5 pp” holds roughly for a switch two to four years before the fixation ends. Mid-fixation you pay the old bank a fee, and that has to be earned back from the saving up to the end of the fixation. The table shows the gap you need in the same example: balance CZK 3.5 million, 20 years, current rate 5.40 %, switching costs CZK 7,000–10,000. It uses the highest fee the bank may charge under the new rules.
| Time left in the fixation | Highest fee to the old bank | Payment must fall by | Rate gap of at least |
|---|---|---|---|
| End of the fixation, comparison over 5 years | CZK 0 | CZK 117–167 | 0.06–0.08 pp |
| 6 months | CZK 8,750 (0.25 %) | CZK 2,625–3,125 | 1.38–1.65 pp |
| 12 months | CZK 8,750 (0.25 %) | CZK 1,313–1,563 | 0.68–0.81 pp |
| 24 months | CZK 17,500 (0.50 %) | CZK 1,021–1,146 | 0.52–0.59 pp |
| 36 months | CZK 26,250 (0.75 %) | CZK 924–1,007 | 0.47–0.52 pp |
| 48 months | CZK 35,000 (1 %) | CZK 875–938 | 0.45–0.48 pp |
A year before the fixation ends you need a gap of 0.7 to 0.8 pp, half a year before the end already 1.4 to 1.7 pp, and if the bank charges the ceiling, waiting pays. At the end of the fixation a fraction of a point is enough. A gap of 0.1 pp does pay back, but the net gain over five years is only about CZK 1,800 to 4,800, which is usually not worth the paperwork if your bank will match the rate.
For a gap below 0.3 pp the calculator above always says “Refinancing is not worth it”. Treat that as a quick warning and go by the break-even point in the chart.
Want to compare specific offers?
Put offers side by side, including how the mortgage evolves over time.
How much does refinancing cost?
At the end of a fixation, refinancing comes to roughly CZK 7,000 to 10,000. The biggest item, the valuation, is paid by some banks or replaced by the original one.
| Item | Amount | Note |
|---|---|---|
| Property valuation | CZK 3,000–6,000 | Ordered by the new bank. For flats often online and cheaper, and several banks pay for it or accept the original (table below). |
| Registering the new lien | CZK 2,000 | Administrative fee for the application to register in the land registry (katastr), CZK 1,600 when filed on the electronic form (§ 9 of Act No. 634/2004 Coll.). |
| Deleting the old lien | CZK 2,000 | After repayment the old bank issues a receipt (kvitance) and consent to the deletion. A bank that files the deletion electronically pays CZK 1,600. |
| Arrangement fee at the new bank | often CZK 0 | Several banks do not charge it for refinancing (table below). |
| Fee to the old bank | CZK 0 at the end of the fixation | Otherwise at most 0.25 % for each started year until the end of the fixation, 1 % in total, and no more than the reasonably incurred costs (§ 117a). |
| Switching costs without a fee to the old bank | CZK 7,000–10,000 | The sum of valuation, registration and deletion. With electronic filing about CZK 800 less (CZK 6,200–9,200). |
When you pay the old bank nothing
- Within 3 months of the bank telling you the new rate, and in a period without an agreed fixed rate (§ 117(3)(c) and (d)). The bank must tell you the new rate at least 3 months before the fixation ends, so the window usually closes on the last day of the fixation.
- Up to 25 % of the original loan each year, if you send the payment in the month before the contract anniversary.
At other times the bank may charge at most 0.25 % of the amount repaid for each started year until the end of the fixation, 1 % in total, and never more than its reasonably incurred costs: at most CZK 1,000 of administrative costs plus the positive difference between the contractual interest and the interest at the average rate published by the ČNB, up to the end of the fixation (§ 117a). On a CZK 3.5 million balance the ceiling is CZK 8,750 when no more than a year of the fixation remains, and CZK 35,000 when more than three years remain. The actual fee tends to be lower, and without an interest difference it is no more than CZK 1,000. A started year counts in full: with 13 months left, two years are charged.
The rule applies to contracts signed from 1 Sept 2024, and to older contracts from the first new fixation that began after that date (Art. XV point 2 of Act No. 462/2023 Coll.). Until the end of a fixation agreed earlier, the previous rules apply and the amounts on this page do not; ask your bank. All the exceptions and the calculation are in the early repayment calculator and in the article on early repayment of a mortgage.
When should you start?
Start 6 to 12 months before the fixation ends. The bank must announce the new rate at least 3 months ahead, and after the announcement you have three months to repay for free.
- 12 to 6 months ahead: find out the date the fixation ends and your balance, work out the saving in the calculator and compare bank rates. Raiffeisenbank says it will arrange an offer up to 24 months before the end of the fixation, ČSOB up to 12 months, and Komerční banka offers forward refinancing up to three years ahead. Treat a rate that far out as a bet on the market: KB itself warns that rates two to three years ahead cannot be predicted.
- 6 to 4 months ahead: ask your chosen bank for pre-approval and a written offer. The new bank assesses your income and obligations again. Raiffeisenbank states a decision within about three working days of complete documents; the other banks give no time. The rate from the online offer is valid for 30 days at Raiffeisenbank and ČSOB.
- 3 months ahead: the letter from your current bank with the new rate arrives. Compare it with the new bank's offer in the calculator and ask your current bank whether it will match the offer.
- 2 months to 3 weeks ahead: sign the loan agreement and the pledge agreement and file the application to register the lien. Before you sign you have 14 days to think it over, and during that time the bank may not withdraw or change the offer unless circumstances relevant to the creditworthiness assessment change. The land registry may allow the registration no sooner than 20 days after notifying the owner of the entry, and in August and September 2026 a registration took 22 days on average.
- The day the fixation ends: the new bank sends the money to the old bank and the mortgage is repaid without a fee. Afterwards make sure the old lien is deleted from the land registry.
If you borrow no more than you still owe and the collateral is the same property, the binding LTV limit of 80 % (90 % for applicants under 36) does not apply to refinancing (§ 45a(3) of the ČNB Act). The bank will still revalue the property, because it prices the rate by LTV. From 1 Apr 2026 the ČNB also recommends that refinancing should not extend the final maturity agreed with the original bank. The documents and deadlines for each step are in how to refinance a mortgage in Czechia step by step.
Which bank offers the best refinancing?
Banks describe only themselves on their own sites. We compare bank rates in one place and check them every working day; the current figures are in the mortgage rates by bank overview. In October 2026 the cheapest and the dearest published “from” rate for 5 years at ten banks are about 1.5 pp apart, which on a CZK 3.5 million balance over 20 years means about CZK 2,900 a month. The lowest rate applies only on the bank's conditions, such as an active account and insurance, so treat it as the best case, not as an offer for yourself.
As at 19 Oct 2026 only Air Bank and Buřinka have a separate refinancing rate table. Air Bank has a separate table for transferring a mortgage and resetting a fixation, with lower rates than for a new mortgage. Buřinka (the building society of Česká spořitelna) refinances with a loan without a lien on the property, so we track its rates separately, and they are higher than mortgage rates. On its refinancing page MONETA advertises a promotional rate for 3 years (LTV up to 80 %, loan over CZK 1 million), but it offers it to every mortgage applicant, not only to those refinancing; the current figure is on the bank's page. Other banks refinance at the rates of a new mortgage and differ in fees and conditions.
| Bank | Special rate | Fees, valuation and timing |
|---|---|---|
| Air Bank | yes, a separate table | Valuation of the property free when transferring a mortgage. |
| Buřinka | yes, a loan without a lien | Takes over housing loans from banks, savings banks and non-bank lenders, and the purpose can be shown by a declaration. Processing fee in the bank's example CZK 3,000. |
| Česká spořitelna | no | Processing, loan administration and valuation free. |
| ČSOB | no | Loan provision and valuation free. Offer up to 12 months ahead, the rate from the online offer valid for 30 days. |
| Fio banka | no, as for a purchase | Loan from CZK 1.5 million. The repayment reward (from a loan of CZK 3 million) applies to refinanced mortgages too. |
| Komerční banka | no | Arrangement free, accelerated valuation free (a standard one costs CZK 4,900). Forward refinancing up to 3 years ahead. |
| mBank | no | Arrangement and provision of the refinancing free. |
| MONETA | no, but it advertises a 3-year rate for all applicants | Processing and loan administration free. Matches a written offer from another bank not older than 30 days and pays a reward of CZK 7,000 on refinancing, subject to the conditions on the bank's page. |
| Partners Banka | no, as for a purchase | Refinances one purpose-bound mortgage from another bank, valuation free. |
| Raiffeisenbank | no | No processing fee, and the original valuation usually suffices. Offer up to 24 months before the end of the fixation, the rate from the online offer valid for 30 days. |
| UniCredit Bank | no | No fee for providing the loan, and the bank recognises the original valuation. |
Compare offers at the same LTV, fixation length and insurance, ideally by the APRC in the bank's example. The difference between the rate and the APRC (RPSN) is explained in APRC vs interest rate.
The list rate is usually higher than the one clients end up agreeing. For August 2026 the average of offers according to the Swiss Life Hypoindex is 5.42 %, while the average of rates actually agreed on new mortgages according to the ČBA is 5.00 %. For September 2026 the ČBA reports 5.10 % on new mortgages and 5.05 % on refinanced ones. The figures measure slightly different samples, but they suggest room to negotiate.
What is refinancing, and how does it differ from refixation?
Refinancing means moving to a different bank: the new bank lends you the money to repay the old loan, and it takes the lien on the property. Refixation is an agreement on a new rate with your current bank. The contract stays, and you pay no valuation or registration fee. When to stay and when to leave is covered in refixation or refinancing.
According to the ČBA, the average rate on newly agreed mortgages moved between 5.65 and 5.93 % in 2023, and only between 1.95 and 3.00 % in 2021. Anyone who fixed for three years then is dealing with the end of the fixation right now, but the saving does not depend on the year you signed: what decides is the gap between your current bank's offer and the best offer elsewhere. Anyone who fixed in 2021 at two to three per cent will pay more after the fixation at every bank. Refinancing will not lower the payment, only pick the cheapest bank, as the article on the end of a mortgage fixation shows.
Negotiate with your current bank first
- Get a written offer from another bank with the same fixation, LTV and insurance. A verbal promise is not enough.
- Contact your current bank 2 to 3 months before the fixation ends, not in the last week, and ask for a retention offer.
- Do not sign the letter straight away: signing a refixation ties you to the whole new fixation, and leaving later costs a fee.
- If the bank does not match the rate, move to the one that offered less.
Can I still deduct mortgage interest after refinancing?
Yes. Pure refinancing does not change the regime of the interest deduction from the tax base (§ 15 of the Czech Income Taxes Act). What decides is the day you acquired the home, not the day you signed the new contract; for a purchase that is the entry of ownership in the land registry. A home acquired before 1 Jan 2021 keeps the limit of CZK 300,000 a year for the household even after refinancing, and one acquired from 1 Jan 2021 has a limit of CZK 150,000. This is Czech tax law and applies to Czech tax residents.
If you increase the mortgage to pay for a new renovation from 1 Jan 2021, the CZK 150,000 limit applies to that part. The deduction applies only to a loan used for your own housing. The details are in the article on mortgages and taxes.
Frequently asked questions
How long does mortgage refinancing take?
From the application to repaying the old mortgage, allow several weeks. The land registry may allow the registration no sooner than 20 days after notifying the owner of the entry (22 days on average in August and September 2026). At the end of a fixation, start at least 3 months ahead.
Can I refinance with the same bank?
With your own bank it is not refinancing but refixation: at least 3 months before the fixation ends the bank tells you the new rate, and you can accept it or negotiate. With a competitor's written offer in hand you usually get more. When to stay and when to switch is compared in refixation or refinancing.
Do I have to prove my income again when refinancing?
Usually yes. The new bank has to assess your creditworthiness and may not grant the loan if it doubts your ability to repay (§ 86 and § 87 of the Consumer Credit Act), so it examines your income and obligations as for a new mortgage. Only a refixation with your current bank avoids a new assessment. The list of documents is in how to refinance a mortgage in Czechia step by step.
Can I borrow more when refinancing?
You can, but the whole new loan must then meet the LTV limit of 80 % (90 % for applicants under 36). The exemption from the limit applies only if the new loan does not exceed the balance of the old ones and is secured on the same property (§ 45a(3) of the ČNB Act).
Is refinancing recorded in the bank registry?
As an ordinary loan. The new mortgage appears in the registers, and the old one is kept as repaid once you have paid it off. Paying on time is a positive record, not a negative one. According to SOLUS, positive data stay for the term of the contract and a further 3 years.
What if the new bank rejects my refinancing application?
Your existing mortgage continues unchanged. You have no obligation to the new bank until you sign the loan agreement. You can try another bank or stay with your current one.
Can I change the repayment term when refinancing?
You can shorten it: the payment rises and the total interest falls. Be careful about extending it, because from 1 Apr 2026 the ČNB recommends that banks should not let refinancing extend the final maturity agreed with the original bank.
Sources
- Act No. 257/2016 Coll., on consumer credit, § 86, 87, 102, 111, 117 and 117a (zakonyprolidi.cz); Act No. 462/2023 Coll., Art. XV point 2 (zakonyprolidi.cz).
- Act No. 6/1993 Coll., on the ČNB, § 45a(3) (zakonyprolidi.cz); ČNB, Recommendation on managing the risks of consumer housing loans of 27 Nov 2025.
- Financial Administration, Information on the change in the limit on the total amount of interest; Act No. 386/2020 Coll., Art. IV points 3 and 4.
- Act No. 634/2004 Coll., on administrative fees, item 120 and § 9 (zakonyprolidi.cz); Act No. 256/2013 Coll., on the land registry (zakonyprolidi.cz); ČÚZK, monthly reporting for August and September 2026.
- ČBA Hypomonitor (cbamonitor.cz, September 2026) and Swiss Life Hypoindex (hypoindex.cz, 9 Sept 2026).
- Bank pages on refinancing, checked 14–19 Oct 2026: MONETA, Česká spořitelna, ČSOB, Komerční banka, Raiffeisenbank, UniCredit Bank, mBank, Air Bank, Buřinka, Fio banka, Partners Banka.
hypoteky.com editorial team · verified 19 Oct 2026 · Editorial policy
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