Bridging Loan General Conditions

Buy your new house without having to sell your current one.
If you own a property in Portugal and you wish to move to a new one, there is no need to wait until you sell. You can have all the money you need to buy your new home while selling the current one. Until the current house is sold, the loan instalments are flexible and can be adapted to your situation so you can buy now and sell calmly.

Purpose
Global solution for costumers that want to purchase a new house, but haven’t sold the current one.

• A team of highly experienced and qualified staff who will provide you with an efficient, friendly and knowledgeable service in your own language through all the stages of buying a house in Portugal.
• A strong and close partnership with the real estate agents, which links the process of choosing a house and getting the necessary financing.

• With a single loan, which is divided between the house you buy and the one you sell, you can have the money you need to buy your new house while selling the current one, by setting up a new mortgage on the current house with UCI, assuming that the assessment value of that house is greater than the outstanding balance of the loan made in another credit institution to buy it.
• During the first two years you benefit from a monthly instalment without repaying capital and interest on the current house. Any interest accrued and not paid in this period will be added to the pending capital on the current house.
• If the sale does not go through during the first two years, from the third to the fifth year you pay interest-only on the pending capital.
• If you do not sell in the first five years, as of the sixth year, the monthly instalment will be interest plus capital repayment.
• You have up to two years with no fee on early repayments on the planned sale price. When you sell and pay the respective portion of the loan, that mortgage is cancelled, leaving you with the remaining mortgage on the new house.

Max Finance
Up to 100% of the new house appraised value plus the cancellation of the existing mortgage (if any), according to the profile of the customer and guarantees provided. Maximum loan amount 500,000€.

Interest Rate
Based on Euribor 6 months, official reference for floating rate mortgages in Portugal.

Mortgage Term
Maximum of 35 years and minimum of 7 years, finance up to 80 years of age.

Early Repayment
No fee charged for early repayments made during the first 2 years on the short term mortgage. After the 5th year 0.5% fee charged on early repayments.

EAIR Crédito Habitação Fácil of 3.787%.
EAIR Troca de Casa of 3.593%.
Example of product finance Bridging Loan with a total value of 190,000 euros for a total assessment value of 250,000 euros (financing for the purchase of 140,000 euros and evaluation of 150,000 euros plus mortgage re-financing of the current property of 50,000 euros and evaluation of 100,000 euros), divided in two loans: New home loan with the product Sun Mortgege valued at 115,000 euros for a period of 360 months. Indexed to Euribor 6 months plus a margin of 1.5%. Effective Annual Interest Rate of 3.787%. Current home loan with Troca de Casa product valued at 75,000 euros for a period of 360 months, without repaying capital or interest (at the time of redemption/cancellation, to the initial capital are added, the amounts relating to the parts of interest that under the scheme, are compound). Indexed to Euribor 6 months plus a margin of 1.5%. No fee charged for early repayments made during the first 2 years on the short term mortgage. After the 2nd year 0.5% fee charged on early repayments. Effective Annual Interest Rate of 3.593%. Valid for 1 applicant of 30 years of age. Includes initial burden with stamp duty, life insurance, multi-risk property insurance, opening and valuation fee.

This information does not constitute an offer of financial conditions. It is also not a substitute for a full reading of the conditions of the product or other professional advice given by UCI. Conditions apply to contracts awarded under the system of mortgages. Information updated at 01 June 2010.