Did you know that buying a house doesn't mean spending all your savings? Use a credit intermediary.

Do you already know the benefits of using a credit intermediary and want to proceed with the request for help with your mortgage credit? Contact Poupança no Minuto , do not waste any more time. If you are still in doubt... get some certainty by continuing to read the article.

Are you buying a house? You don't need to spend all your savings.

Know the capital you need to have available

If you are going to buy a house, be prepared to have a certain amount of capital available that may or may not be high.

When buying a property through a housing loan, you always have to give an initial amount to the bank since it does not finance 100% of the property's value. Currently, banks lend up to 90% of the value for primary and permanent housing and up to 80% for secondary housing.

This percentage applies to the purchase or appraisal value, whichever is lower. And keep in mind that you may have to give more than 10% (HPP) or 20% (HS), as these are just the minimum limits. It will depend on the profile and financial capacity of the customer, but mainly on the bank. financial capability

This means that, for example, if the property you are going to acquire for HPP has a purchase value of 190,000 euros and an appraisal value of 200,000 euros, and the bank proposes to finance 90% of the value, you need to have available a capital of 19,000 euros to provide to the bank as a down payment.

But it is important to always ask for more than one proposal. Request credit simulations from various banks, to have a basis for comparison and to obtain the maximum financing and the best conditions.

In addition, you will still have to pay two taxes on the deed: Stamp Duty (IS) and Property Transfer Tax (IMT). IS is the oldest in the Portuguese tax system and represents 0.8% of the property acquisition value. So, on a property worth 190,000 euros, you pay an IS of 1,520 euros.

The calculation of IMT is more complex, as it is based on various factors such as the applicable rate, ranging from 1% to 8% (differs depending on the property value), the location of the house, its purpose, and applies to the higher value between the acquisition value and the Taxable Asset Value (VPT). However, you should know that you may be exempt from paying IMT in certain cases, such as when the property for Permanent Housing Purposes does not exceed a value of 97,064 euros on the mainland, or 121,064 euros in Madeira or the Azores.

And it doesn't stop here... you also need to pay process expenses to the bank, such as bank commissions and a mutual mortgage registration.

But with a credit intermediary helping you in communication and negotiation with banks, the process can become simpler and less costly (in bureaucratic and financial terms). Let's see how.

Negotiation is easier using a credit intermediary.

How does credit intermediation work?

Credit intermediation occurs between customers and credit-granting companies, acting as a bridge between them.

So, credit intermediaries are responsible for presenting the credit proposals from banks to clients, helping with the bureaucratic part of the documentation required to be submitted to banks for credit, and accompanying and advising clients until the day of signing.

Because they have experience in the field, credit intermediaries have good knowledge of partner banks and market trends, which is a plus for a client. This is because they become a kind of guide, whom you can trust to make decisions related to credit.

The credit intermediary can help negotiate

Reinforcing: Credit intermediaries, being experienced in the market, prevent you from being deceived and ensure you have access to all necessary information.

In negotiating, they achieve clear communication with banks in order to reach the most favorable credit conditions for you and your family. Credit conditions can be found here.

With the help of a credit intermediary, you can request proposals from several banks and understand which one suits your needs the best. Even if you are not satisfied with any proposal, the agent can negotiate the conditions with the banks.

This way, it is easier to achieve conditions such as maximum financing in credit, required insurances (life and multi-risk) cheaper, or a lower spread.

Take advantage of the knowledge and experience of credit intermediaries: Turn to Poupança no Minuto to contract your new home loan! With a free, fast, and efficient service, they ensure that you don't have to worry about anything and still get the best conditions.