Mortgages in Portugal

Mortgages in Portugal

If you are thinking of buying a house bin Portugal, you might need to finance your way into it and choose the right financial institution. We as estate agents are now able through UCI to help you buy as there was crearde a special mortgage solution for European Union citizens.

UCI was founded by 2 of the largest financial groups in Europe, GRupo Sanrander and BNP Paribas. UCI is, in tirn a multinational group operating in Portugal, Spain and Greece.

Grupo Santander is ranked in he top 15 world banks, has global presence in 5 continents and has over 35 million clients.

BNP Paribas is France´s nº 1 financial group, Europe's nº 2 financial group with branches in 87 countries.

UCI is the only financial entity in Portugal specialized in mortgage solutions exclusively available by means of real estate agents. As a specialist, UCI offers a complete service, from application to signing the mortgage deed, making the purchase oy your house easy, convenient and secure. As the preferred financing partner of the real estate agents, UCI helps you to secure a good buy at a fair price.

UCI's new mortgage for non-residents (European Community Citizens) is the easiest way to buy your house in Portugal.

EURO Mortgage, offers you longer terms, upi to 40 years, so that you can pay off your UCI Euro Moertgage at your conevience.

Why UCI?

Because UCI is a financial institution specialized in mortgage solutions and is always trying to find out new ways to match client's needs. UCI has its own exclusive team of solicitors who take care of all the required documentation in the right timing so that you can buy the house of your dreams.

Cost involved:

• Valuation of the property will cost 175 Euros
• Transfer tax is exempted up to Euro 82.000
• Notary fee is 0,8% of the purchase price
• Plus 0,6% of the value of the mortgage  *withheld by the bank*
• Plus 0,4% for process opening fees *withehld by the bank*
• You are obliged to take out a Multi Risk house insurance of which we will take care if required.
• You are recommended to take out an adequate Life Insurance.

Yearly there are rates to be paid, called I.M.I. *Imposto Municipal Imovel*

OTHER MORTGAGES

Besides the above mentioned Euro Mortage we are also able to offer National and Foreign Residents in Portugal a variety of flexible schemes

1. Super Credito Light, in which you will only pay interest during the first 3 years and more.
2. Super Credito Troca de Casa is a bridging loan if you have not sold your house yet
3. Super Credito 2 em 1which will allow you to have reuced installments for the first 8 years and mortgage possible up to 35 years.
4. Super Credito Facil is a mortgage on the bases of annuities in which percentage is revised every 6 month.
5. Super Credito Assegurado UCI in which you can borrow up to 97% of the assesed value of your property
6. Super Credito Porta Aberta could be used for building your own house, up to 97% without the need of a guarantor.

For further info contact our office or visit the website(s) of U.C.I.

www.uci.com or www.uci.pt

For further info on other mortgage facilities view

http://www.realestate-algarve.info/default_3_88

This article is written and provided with permission by Robert M.L. Snapper, fully licensed real estate agent in Portugal.