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Mortgage Types

BPI Mortgage Loans offers several variable and fixed rate options. This allows you to choose the solution that will best adapt to your life expectations and the form of payment that is just right for you.

Banco BPI | Mortgage Loan Solutions | Mortgage Types

Banco BPI | Mortgage Loan Solutions | Mortgage Types

Fixed Rate

With a BPI Fixed Rate Mortgage (APRC 3,1% and Total Amount Payable by the Consumer € 228.754,36)1, you have the peace of mind of knowing that you will always pay the same monthly amount on your home and will also be protected against Euribor increases.

Everything changes over 30 years except the value of your house payment.

 

Variable Rate

With BPI Mortgage Credit - Variable Rate (APRC 2,1% and Total Amount Payable by the Consumer € 268.305,14)2 your monthly instalments only change when market interest rates change.

You can choose a long maturity of up to 40 years, providing all the borrowers are less than 75 years old at the end of the loan. This allows you to benefit from low installments, while you can always make early repayments at any time and thus terminate the loan before the originally scheduled date.

Mixed Instalments

BPI offers this type (APRC 2,1% and Total Amount Payable by the Consumer € 270.970,363 considering a maximum instalment growth factor of 0.25% per month4), under which the instalment begins at a very low amount, increases over the first ten years and then remains fixed4 from the end of that period until the end of the loan. The growth rate is calculated according to the term and initial interest rate for the loan with a maximum increase of 0,25%/month.

As such, the instalment is suited to improving your income during the initial years and dos not increase significantly in the transition from the period of increasing instalments to fixed instalments.

Fixed Installments

This solution (APRC 2,1% and Total Amount Payable by the Consumer € 268.315,14)2, available for a maximum term of 30 years, aims to guarantee your peace of mind: even when market rates change, installments remain unchanged.

The interest rate is tied to the Euribor. The loan installment is always fixed6 and when this rate changes, the loan maturity is adjusted automatically. Hence if the market rate rises, the loan term increases, if it drops, the term decreases.

Non Resident Foreigners

For those who dream of having a holiday home in Portugal, BPI offers excellent financing conditions (APRC 2,8% and Total Amount Payable by the Consumer € 292.960,73)7.

Loan maturities can be as long as 30 years and for variable-rate loans for second home acquisition, the amount financed can be as high as 70% of the valuation amount.

Mixed Rate

BPI offers this type (APRC 2,9% and Total Amount Payable by the Consumer € 297.696,05)8, in which the interest rate is fixed during the first 15 years of the loan term as selected by the customer and variable for the remaining term, indexed to the 12-month Euribor rate.

Observations

1 Amounts calculated in september 2020 for a financing of € 150.000 over 30 years, based on a fixed APR of 2,15% which may be reduced depending on the commercial relationship of the Customer with BPI, guaranteed by mortgage of property and assuming the best risk class of the operation. The APRC and the Total Amount Payable by the Consumer (MTIC) presented presuppose that Customers are 30 years of age and have had an account open with the Bank for more than 30 days, without optional associated sales, and include 360 monthly instalments of € 565,75, fees and initial expenses of € 2.135,18, average annual insurance premium of € 527,72 and annual average premium of multi-risk insurance of € 235,78.

2 Amounts calculated in september 2020 for a financing of € 200.000 over 30 years, based on a variable APR of 1,241% (composed of 12-month Euribor august 2020, rounded to the nearest thousandth plus a spread of 1.60% which may be reduced depending on the commercial relationship of the Customer with BPI), guaranteed by mortgage of property and assuming the best risk class of the operation. The APRC and the Total Amount Payable by the Consumer (MTIC) presented presuppose that Customers are 30 years of age and have had an account open with the Bank for more than 30 days, without optional associated sales, and include 360 monthly instalments of € 665,66, fees and initial expenses of € 2.435,18, average annual insurance premium of € 637,15 and annual average premium of multi-risk insurance of € 235,78. The interest rate applied to the purchase and construction of permanent, secondary or leasehold housing may be negative depending on the evolution of the respective indexer.

3 Amounts calculated in september 2020 for a financing of € 200.000 over 30 years, based on a variable APR of 1,241% (composed of 12-month Euribor august 2020, rounded to the nearest thousandth plus a spread of 1,60% which may be reduced depending on the commercial relationship of the Customer with BPI), guaranteed by mortgage of property and assuming the best risk class of the operation, in the mixed instalments modality, considering a maximum growth factor of the instalment of 0.25%/month during the first 10 years. The APRC and the Total Amount Payable by the Consumer (MTIC) presented presuppose that Customers are 30 years of age and have had an account open with the Bank for more than 30 days, without optional associated sales, and include 360 monthly instalments, the first of which is € 520,61, fees and initial expenses of € 2.435,18, average annual life insurance premium of € 668,95 and annual average premium of multi-risk insurance of € 235,78. The interest rate applied to the purchase and construction of permanent, secondary or leasehold housing may be negative depending on the evolution of the respective indexer.

4 Available for purchase or transfer purposes and for terms between 10 and 40 years, inclusive.
5 Considering market rates remain unchanged.
6 In exceptional cases, if the market rate rises lead to a loan term in which one of the holders is over 75 years of age, the loan instalment will rise with that limit in mind.

7 Amounts calculated in september 2020 for a financing of € 200.000 over 30 years, based on a variable APR of 1,891% (composed of 12-month Euribor august 2020, rounded to the nearest thousandth plus a spread of 2,25% which may be reduced depending on the commercial relationship of the Customer with BPI), guaranteed by mortgage of property and assuming the best risk class of the operation. The APRC and the Total Amount Payable by the Consumer (MTIC) presented presuppose that the Customers are 30 years of age and have had an account open with the Bank for more than 30 days, without optional associated sales, and include 360 monthly instalments of € 728,39, fees and initial expenses of € 2.617,18, annual average life insurance premium of € 666,54 and annual average premium of multi-risk insurance € 269,46. The interest rate applied to the purchase and construction of permanent, secondary or leasehold housing may be negative depending on the evolution of the respective indexer.

8 Amounts calculated in september 2020 for a financing of € 200.000 over 30 years, based on a fixed interest rate (APR) of 2,050%, during the first 15 years of the loan and at a variable interest rate (APR) of 1,241% (composed of 12-month Euribor august 2020, rounded to the thousandth plus a spread of 1,60%, for the remaining period, guaranteed by mortgage of property and assuming the best risk class of the operation. These amounts may be reduced depending on the commercial relationship of the Customer with BPI).

The APRC and the Total Amount Payable by the Consumer (MTIC) presented presuppose that the interest rate of the variable rate period will be equal to the interest rate of the fixed rate period, that the Customers are 30 years of age and have had an account open with the Bank for more than 30 days, without optional associated sales, and include 360 monthly instalments of € 744,25, fees and initial expenses of € 2.435,18, annual average life insurance premium of € 673,76 and annual average premium of multi-risk insurance of € 235,78. The interest rate applied to the purchase and construction of permanent, secondary or leasehold housing may be negative depending on the evolution of the respective indexer. 

This information is provided for advertising purposes and does not and does not exempt the reading of the pre-contractual and contractual information legally required, and does not constitute a contractual proposal. Contracting subject to the prior approval of the entities involved and to the assessment of the solvency of the parties involved in the operation.