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Mortgage Loan with Indexed Instalment

Mortgage Loan with Indexed Instalment

3.0 TAEG % | 2.3% TAEG*

* with optional associated sales.

Advantages

Packages of products and services that provide benefits:

Lower spread rates are conditioned to the subscription and maintenance of 4 of the following 7 products:

Regular Customer:

  • Payment of Salary/Retirement pension 1, amounting to, at least, € 500 a month, through Millennium bcp   
  • Life Insurance from Ocidental
  • Multiple-Risk Home Insurance from Ocidental
  • Debit/credit card with entries exceeding €500 for the last six months;
  • Consumer Loans/ Long-Term Rental/ Car Leasing with an outstanding amount of at least € 500
  • Financial Assets* ≥ €5,000
  • Paying 2 bills through direct debits (electricity, water, gas, communications for example)

Plus Regular Customer:

  • Payment of salary/ retirement pension2 amounting to, at least, €1,000 a month through Millennium bcp
  • Life Insurance from Ocidental
  • Multiple-Risk Home Insurance from Ocidental
  • Debit/credit card with entries exceeding €1,000 for the last six months;
  • Consumer Loans/ Long-Term Rental/ Car Leasing with an outstanding amount of at least €1,000
  • Financial Assets*  ≥ €10,000
  • Paying 2 bills through direct debits (electricity, water, gas, communications for example)

Top Regular Customer

  • Payment of Salary/Retirement pension3, amounting to, at least, €1,500 a month, through Millennium bcp
  • Life Insurance from Ocidental
  • Multiple-Risk Home Insurance from Ocidental
  • Debit/credit Card with entries exceeding 1500€ for the last six months;
  • Consumer Loans/ Long-Term Rental/ Car Leasing with an outstanding amount of at least €1,500
  • Financial Assets*  ≥ €15,000
  • Paying 2 bills through direct debits (electricity, water, gas, communications for example)

Other special Conditions in effect:

  • Young People (up to 34 years of age) / Moving to a new Home Solution - additional 0.20% spread discount.

1 As an alternative, it may be replaced by a credit/debit card with minimum charges of €750 for the last six months.
2 As an alternative, it may be replaced by a credit/debit card with minimum charges of €1,500 for the last six months.
3 As an alternative, it may be replaced by a credit/debit card with minimum charges of €2,250 for the last six months.
* For this purpose, only guaranteed capital products are considered financial assets.

Total Costs

Credit pricing

Example for a 30-year old consumer - 100 thousand Euro loan, with mortgage; 150 thousand euro evaluation; 67% LTV; 30-year term. Indexed monthly payment product "Cliente da Casa Plus"; Purpose: acquisition, 3 monthly instalments free of interests - Initial fees €792.50; Contractual fees €470; Credit opening stamp tax €600; Monthly fee €2.86; Average monthly Life Insurance Premium €14.9; Multi-risk Insurance Premium with monthly payments of €8.6.

3.0% TAEG (Annual Effective Interest Rate) with no optional associated sales - 2,371% floating TAN (Nominal Annual Rate), (12-month Euribor of December 2018 -0.129% plus base spread of 2.500%) - 360 monthly instalments of €388.45 - Total amount charged to the Client: €150,594.85.
2.3% TAEG (Annual Effective Interest Rate) with optional associated sales - 1.671% floating TAN (Nominal Annual Rate), (12-month Euribor of December 2018 -0.129% plus base spread of 1.800%) - 360 monthly instalments of 353.39€ - Total amount charged to the Client: €137,900.02.

Presumes the purchase of the following products: • Salary paid into the account worth €1,000/month; • Debit or credit card with €1,000 in charges every six months; • Multi-risk Insurance with Ocidental Seguros; • Life Insurance with Ocidental Vida.

This information does not dispense with the reading of the legally required pre-contractual and contractual information. Insurances sold by Ocidental - Companhia Portuguesa de Seguros, S.A. and Ocidental - Companhia Portuguesa de Seguros de Vida, S.A. Tied insurance intermediary Banco Comercial Português, S.A., Sociedade Aberta (company open to public investment). The Mediator is not authorized to enter into insurance contracts on behalf of the Insurance Companies or to receive insurance premiums to be delivered to the Insurance Company. The Mediator shall not be liable for the cover of the risks inherent to the insurance contract, which will be fully taken on by the Insurance Company.
Subject to credit risk assessment.
Credit is granted by Millennium bcp, without credit intermediation, and is guaranteed by a mortgage on the real estate property. Credit is granted subject to Banco de Portugal's macro-prudential rules.
The interest rate applied (TAN) may be negative depending on the evolution of the respective index.

Features

  • Equal monthly instalments of capital and interests from the beginning of the loan;
  • Purposes: purchase, transfer, construction and repairs;
  • Terms up to 40 years, with an age limit of 75 years for all proponents;
  • Loan amount:

    Purchase: up to 90% (in case of a permanent residential property) or 80% (in case of a secondary residential property) of the value of the evaluation or of the real estate property purchase amount (the lesser amount).

    Transfers: up to 90% (in case of a permanent residential property) or 80% (in case of a secondary residential property) of the evaluation value. Regarding real estate properties purchased less than 2 years prior, the lesser amount between the purchase amount and the real estate property evaluation value.

    Renovation works: up to 90% (in case of a permanent residential property) or 80% (in case of a secondary residential property) on the expected value of the evaluation of the real estate property after the completion of the works. Concerning the real estate properties purchased less than two years prior, the lesser amount between the real estate purchase amount plus the improvement works and the expected value of the evaluation of the real estate property after said works are completed.

    Construction: up to 90% (in case of a permanent residential property) or 80% (in case of a secondary residential property) of the lesser amount between the value of the land plus the construction works and the value of the evaluation of the real estate property when the construction project is completed.

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