Mortgage loan

Mortgage loan

Mortgage loan

It is intended to finance the purchase of real estate, construction, or improvement works, and may be for personal residence or for sale.

Characteristics

Target Market

Private individuals.

Term

Maximum of 360 months (30 years).

Amount

Up to 90% of the property's value.
May reach 100% of the property's value under specific agreements (protocols) and subject to case-by-case assessment.

Repayment

Fixed instalments comprising principal and interest.
Instalments with a grace period on principal repayment.

APR (Annual Percentage Rate)*

Effective Annual Percentage Rate (APR): 12.298%

* APR of 12.298%, calculated for a loan of CVE 10,000,000.00, with a total term of 30 years, at an interest rate of 11%, pursuant to Article 21 of Law No. 96/IX/2020 of 17 July. Rate calculation basis: Actual/360 days.

Fees and Charges

  • Loan opening fee: 1.25%, minimum CVE 10,000, plus applicable Stamp Duty.
  • Partial or full early repayment fee: in accordance with Article 7 of Law No. 95/IX/2020:
  • Early repayment, partial or total (fixed rate): 2.00%
  • Early repayment, partial or total (variable rate): 0.50%

Collateral

  • Mortgage;
  • Personal guarantee / Surety;
  • Pledge of financial investments;
  • Other guarantees deemed eligible and sufficient.

Advantages

  • Fast response time.
  • Extended repayment period.
  • Possibility of negotiating the interest rate according to the guarantees provided.
  • Advance payment (deposit) financing for property acquisition.

Advantages

The Banco Interatlântico Mortgage Loan is intended for individuals and allows financing for the following types:

  • Acquisition, construction and improvement works for own permanent housing or for income;
  • Acquisition of land to build your own home and/or for income;
  • Up to 90% of the value of the property, or up to 100% under protocols.

Required Documentation

  • Approved technical project for the building to be constructed and updated location plan;
  • Structural engineering project for the building;
  • Construction works budget;
  • Property Registration Certificate (Land Registry Office) / Property Tax Registration Certificate (Municipal Council);
  • For property purchases, a Purchase and Sale Agreement indicating the transaction value;
  • Any other documents considered necessary.

Contracts

STANDARDISED INFORMATION SHEET