Mortgage loan up to 500.000€ for the purchase or construction of a first residence:
- financing up to 90% of the commercial value of the property and up to the contract amount,
- zero loan application assessment fees
- fixed interest rate starting at 2.70% for 3 years and then variable interest rate based on Euribor 1-month rate plus a margin starting at 1.75%.
Alternatively, you can choose a fixed rate for a longer period or a variable rate loan.
At least one of the borrowers should be less than 50 years old at the time of the application.
For more information on the full range of mortgage schemes, click here.
The interest rate/margin is set exclusively for you, after the Bank has assessed your application in accordance with its current credit policy, taking into account factors such as your transaction behavior, the collateral provided, the amount and the duration of the loan.
The above interest rates / margins are subject to a levy under Law 128/75, currently 0,12%.
Indicative Example of Total Annual Percentage Rate of Charge (APR)
- Loan amount: €50,000
- Security: mortgage on property
- Repayment period: 10 years (120 monthly instalments)
- Interest rate: fixed 2.70% for 3 years and then floating linked to Euribor 1M (3.60% on 17/6/2024), plus a margin of 1.75% (the above interest rates are subject to a levy of Law 128/75, currently 0.12%)
- Origination fees: 0 €
- Cost of legal inspection: €50
- Costs of legal audit: 150 €
- Monthly instalment: 541,40€
- Total amount to be paid: 65.178,40€
- APR: 5.68%
Please note that the APR was calculated on the basis of the highest interest rate mentioned above, i.e. the variable interest rate, assuming that it remains at the same level for the entire duration of the contract. It is clarified that the APR, the monthly instalment and the total amount to be paid are given for illustrative purposes only and are derived only on the assumption that the above-mentioned data will be available. Please note that the mandatory insurance of the mortgaged property against Fire/Earthquake risks is calculated using as insured capital the reconstruction value of the property.
The Bank offers a group insurance policy with an insurance company of her choice, but you can also provide an individual insurance policy from an insurance company of the borrower's choice, approved and assigned by the Bank, in accordance with her policies and procedures.
The above example does not include the cost of insurance against Fire/Earthquake risks of the mortgaged property.
A default on the loan agreement may have legal or financial consequences for the borrower.