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FLEX MORTGAGE LOAN

The Flex Mortgage Loan is a versatile financing solution fully adaptable to your needs.

With this financing, you can obtain the liquidity necessary for your personal projects or find the ideal solution to consolidate multiple loans and reduce monthly expenses.

To allow for longer terms and lower interest rates, this credit is secured by a mortgage on a property, similar to a home loan.

Our concern is to meet your needs.

Purposes of FLEX Mortgage Loan

Debt Consolidation Property Renovation
Education and Health Expenses Various Purposes

Unique
Advantages

Unique
Advantages
Pre-approval
within 24 hours
Competitive Interest Rate
Terms of up to 20 years
Reduction of
monthly charges
(in consolidated loan)
Financing
multifinalities

Examples

of using FLEX

Mortgage Loan

A client with multiple loans requires a CONSOLIDATION

solution to reduce the amount of their monthly payments.


VALUE OF LOANS CURRENT
65 000€

15 years, APR 5,22%
 521,33€
25 000€

7 years, APR 6,00%
 365,21€
30 000€

7 years, APR 8,50%
 475,09€
7 500€

APR 13,50%
 375,00€
Total 127 500€ 1736,63€
FLEX Solutions for Consolidation
Solution a

WITHOUT transfer of the mortgage loan
Solution b

WITH transfer of the mortgage loan
521,33€ 436,73€

APR 5,215%
Term of 20 years
**
587,05€

APR 7,715%
Term of 15 years
*
 511,21€

APR 7,701%
Term of 20 years
***
Total 1.108,38€ Total 947,94€
*

TAEG 9,485%
**

TAEG 6,261%

***

TAEG 8,937%
Example Representative Solution A
 Example Representative Solution B
Example Representative Solution B

APR calculated based on a Variable Nominal Annual Rate of 5.215% (6 month Euribor from June 2024 of 3.715% and a spread of 1.5%), for a standard loan of 65,000 EUR over 20 years, for a borrower aged 40 with a loan-to-value ratio of 64%. The loan is repayable in 240 monthly installments of principal and interest, with an estimated monthly amount of 436.73 EUR. Total cost of loan is 46,652.67 EUR, and the total amount payable by the consumer (MTIC) is 111,652.67 EUR. This includes: property appraisal fee, initial commissions, contract formalization expenses, stamp duty on credit usage, and insurance premiums for life and multi-risk insurance.

APR calculated based on a Variable Nominal Annual Rate (APR) of 7.701% (6 month Euribor of June 2024 of 3.715% and spread of 3.986%), for a standard loan of 62,500 EUR over 20 years, for a borrower aged 40 with a loan-to-value ratio of 64%. The loan is repayable in 240 monthly installments of principal and interest, with an estimated monthly amount of 511.21 EUR. Total cost of loan is 66,180.45 EUR and total amount charged to the consumer (MTIC) 128,680.45 EUR. Includes: property appraisal fee, initial fees, contract formalization expenses, stamp duty on the use of credit, and life and multi-risk insurance premiums.

Example Representative Solution A

APR calculated based on a variable nominal interest rate (APR) of 7.715% (6 month Euribor of June 2024 at 3.715% and a spread of 4%), for a standard loan of 62,500 EUR over 15 years, for a borrower aged 40 with a loan-to-value ratio of 64%. The loan is repayable in 180 monthly installments of principal and interest with an estimated monthly amount of 587.05 EUR. Total cost of loan is 49,816.95 EUR and the total amount payable by the consumer (MTIC) is 112,316.95 EUR. Includes: property appraisal fee, initial commissions, contract formalization expenses, stamp duty on the use of credit, and life and multi-risk insurance premiums.

The 5 phases of the hiring process


  • Simulation
  • Pre-Approval
  • Avaliation
  • Approval
  • Deed

1. Simulation

At this stage, all you have to do is tell the bank a few details, such as the amount, the estimated value of the property, the desired term and the type of rate, in order to find out the characteristics of the loan.

2. Pre-approval

At this point, in addition to the Credit Proposal, duly signed by the Client, which formalizes their request for credit, the Bank can give you information about the potential viability of your request. However, you will be asked for additional documentation and/or information in order to proceed with the approval process.

3. Valuation

The Valuation is crucial, as it is at this point that it is confirmed whether the value of the property to be pledged as collateral is sufficient for the loan.

The property will therefore be appraised by an independent appraiser.

If the appraisal value differs from what was initially considered in the Simulation, the financing conditions may be altered.

4. Approval

With the result of the Evaluation, at this stage the process is reviewed and it is ensured that the requirements have been met.

The preparation of the documentation begins, and you will be given the Letter of Approval; the approval ESIS; and the Draft Contract.

You will have a period of reflection of at least 7 days, after which, and if you agree with the conditions, you must deliver the signed ESIS of Approval to the Bank in order to start scheduling and carrying out the deed.

5. Deed

Last phase of the process.

The Deed is marked according to its availability, and in accordance with the loan characteristics validated in the Approval ESIS.

Request your simulation here.

If you prefer, call us at 214 012 980 (national landline call) on weekdays from 9 a.m. to 6 p.m.

Or send an email to cliente.flex@bnieuropa.pt