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Your place under the sun.
Your case: Thinking of buying a property in Portugal?
UCI solution: A team of highly experienced and qualified staff who will provide you with the most appropriated solution.
How does it work: As a specialist, UCI offers you a complete service, from application to signing of the mortgage deed, making the purchase of your house easy, convenient and secure.
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For further information, please contact UCI
Helpline 808 21 00 21 or your local Real Estate Agent. |
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Soluções de
Crédito Habitaçao UCI |
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Sun Mortgage General Conditions
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Why UCI should be your first choice when purchasing in Portugal?
You already know that Portugal has many things to offer. The nice sunny weather, the warm blue sea, the hot sand, the amazing golf courses… So why experience it only a few days a year when you can have it all year at your own house in Portugal?
With UCI’s new mortgage for non Residents (European Union citizens), buying a house in Portugal is now very simple.
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Purpose
Purchase of a property in Portugal by non Resident citizens (EU citizens) for use as a main residence or holiday home.
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Our Key features
- 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 wide range of mortgage products at competitive rates to suit your needs.
- A strong and close partnership with the real estate agents, which links the process of choosing a house and getting the necessary financing.
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Benefit from:
- Finance up to 70% of the house value, according to the guarantees provided.
- Floating Rate Mortgage or Fixed Rate Mortgage.
- Up to 3 years interest-only in the option Fixed Rate Mortgage.
- Long term mortgage, of up to 35 years.
- Maximum age at end of the loan of 80 years.
- A mortgage solution that allows you to move to a new house in Portugal without having to sell your existing property, by setting up a new mortgage on your current house with UCI.
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Max. Finance
Up to 70% of the appraised value of the house according to the applicant profile and guarantees provided. Maximum loan amount of 300,000€ and minimum of 60,000€.
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Mortgage Term
Maximum of 35 years and minimum of 7 years, finance up to 80 years of age.
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Interest Rate
With UCI you decide the interest rate of your mortgage during the first 3 years. You can choose between a variable rate mortgage, which is linked to variations in the reference rate, or a fixed rate mortgage, which allows you to set the interest rate and the monthly payments during the first 3 years:
| Monthly Payments |
| Interest Rate |
Loan to Value < 60% |
60% < Loan to Value < 70% |
| Floating Rate Mortgage(*) |
Variable monthly payment |
Variable monthly payment |
| Fixed Rate Mortgage(**) |
Fixed monthly payment for 3 years and up to 3 years interest-only. |
Fixed monthly payment for 3 years and up to 1 year interest-only. |
(*) Floating rate mortgage based on Euribor six-month rate revision (official reference for floating rate mortgages in Portugal).
(**) Fixed rate mortgage agreed with UCI during a period of 3 years. After the fixed rate period, the loan becomes effective with Euribor six-month. Valid only for non Resident Applicants (European Union citizens), except Portuguese citizens.
Rounding
Rounded up to the thousandth under the decree of law number 240/2006 of the 22nd December.
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Early Repayment
0.5% fee charged on the repaid capital during the variable rate and 2% during the fixed rate.
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EAIR Sun Mortgage with Floating Rate Mortgage of 3.820%.
EAIR Sun Mortgage with Fixed Rate Mortgage of 4.256%.
Example of product finance Sun Mortgage with a total value of 100,000 euros, for a total assessment value of 145,000 euros, a period of 360 months, with Floating Rate Mortgage indexed to Euribor six-months plus a margin of 1.5%. Effective Annual Interest Rate of 3.820%.
Example of product finance Sun Mortgage with a total value of 100,000 euros for a total assessment value of 145,000 euros, a period of 360 months, with Fixed Nominal Interest Rate of 4.000% during the first 3 years and then, indexed to Euribor six-month plus a margin of 1.5%. Effective Annual Interest Rate of 4.256%. 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. Commission for early repayment of 0.5% on the repaid capital during the variable rate and 2% during the fixed rate.
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.
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Os nossos produtos >> Sun Mortgage 
