Bank Mortgages – Will It Be The Best? | Interest Rate

 

 

Under the slogan Crédito Habitation without ‘ais’ nor ‘uis’ , Banco CTT’s offer of financing to buy a home is simple and competitive and differs according to its purpose (permanent, secondary or transfer). The whole process takes place with a specialized team and initially the consumer can have a fast and intuitive simulator to know what the monthly installment of your credit.

Bank Credit Housing: Own Permanent Housing

 

Bank Credit Housing: Own Permanent Housing

 

Financing of a first home for permanent housing in this financial institution has as main characteristic a variable interest rate, simple and low cost, accompanied by a competitive spread between 1.30% and 1.75%.

However, in order to achieve the lowest spread possible, the consumer must subscribe to the following products of this entity:

  • Domicile of payroll in the account of Banco CTT (which does not have any maintenance costs);
  • Life insurance;
  • Multi-risk housing insurance.

If the customer does not even wish to subscribe additional products, a base spread between 2.80% and 3.25% will be applied.

The financing for the purchase of a permanent home in this bank has a maximum financing / guarantee ratio of 85% (assuming, therefore, the effective inflow of capital).

Regarding loan repayment terms, these can range from 10 to 40 years at most, provided that the maximum age of the applicants at the end of the loan is not more than 75 years.

 

Secondary Private Housing

 

Secondary Private Housing

 

This type of credit housing is intended for a second home (which can be for example a holiday residence). In terms of spread , what applies to this product can be between 1.30% and 1.50% if the customer adhere to the following products of Banco CTT:

  • Domicile of payroll in the account of Banco CTT (which does not have any maintenance costs);
  • Life insurance;
  • Multi-risk housing insurance.

If the consumer does not wish to subscribe to any of these additional products a spread between 2.80% and 3% may be applied.

The financing of a secondary house in this institution only goes up to 70% (which presupposes effective entry of capital).

As with the acquisition of the first home, the repayment period for the loan may range from 10 to 40 years at most, provided that the maximum age of the tenderers at the end of the loan is not more than 75 years.

 

Transfer

 

Transfer

 

The CTT bank accepts credit transfers to the housing of other institutions, assuming the following costs with this process:

  • Expenditure associated with the transfer: 0.5% of the loan amount transferred;
  • Reimbursement of commissions for the opening of proceedings and formalization after contracting the credit;

However, depending on the information on the official website of the Bank CTT, the assumption of these charges by the bank itself is part of a promotional campaign valid for amounts transferred of € 50 thousand or more and for transfers that are formalized until 3 June 2018.

By switching your loan from the home to Banco CTT, the consumer can be able to stay with a competitive spread between 1.30% and 1.75% by subscribing for additional products (similar to what happens with permanent home financing and second home). If it does not adhere to other products, the applied spread will be between 2.80% and 3.25%.

House App

House App

The process of buying a home is one of the most difficult to find, involving a lot of complexity associated with bureaucracy and the different steps that go from loan approval to writing. To make this process more agile, this financial institution makes the Casa BCTT app available to the customer free of charge.

With this application it is possible to follow the various steps of the process, step by step, indicating, in real time, what is the status of the request for housing credit. The user also receives alerts on the activities that are pending in his / her intervention and can access information about the necessary documentation and how to obtain it.

This app , which is available for both Android and iOS users, also allows you to exchange messages with Banco CTT to get information about the process and upload the missing documents.

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