Can a bank block a credit transfer? Learn how to avoid this situation.

To ensure that processes related to credits occur without challenges, it may make sense to hire the free services of a credit intermediary. The agents of Poupança no Minuto take care of everything, without you having to worry about bureaucracy or unexpected situations.  

Do you see yourself in this situation? Contact us! Or first read what solutions you can avoid similar events.  

Housing credit transfer: How to transfer the mortgage between banks?

When transferring your housing credit from one bank to another, the mortgage must be canceled at bank A, and a new one established at bank B.

That is, bank A may charge a commission due to the full refund of the debt before the end of the contract period. It is called an early repayment fee, and the amount may vary depending on the interest rates: in contracts with variable interest rates, the fee cannot exceed 0.5% of the reimbursed capital, and in contracts with fixed interest rates, the fee cannot exceed 2% of the reimbursed capital.

However, currently and until December 2023, clients are entitled to exemption from this fee in housing credit contracts for the acquisition or construction of their own permanent housing with a variable interest rate.

In addition, bank A may also request expenses paid to registries, notary offices or tax authorities from the client.

In this case, in which total early repayment is made, you must also pay the interest due up to the date of repayment, together with the commission fee and expenses borne by the customer.

Regarding the insurance contracts, in order to guarantee the payment obligation during the contract, the validity remains when the conditions do not affect the covered risks. 

Can Bank A prevent a transfer by not providing information to Bank B?  

Note that in the transfer process, where a mortgage is canceled in one bank to be established in another, the APB protocol (Portuguese Banking Association) is used. This protocol ensures the simplification of mortgage cancellations between different banks.  

In this sense, as soon as the customer proceeds with the transfer request, bank A (current) must provide bank B (to which it will transfer) with all credit-related information within 10 business days. The information to be passed on should be the necessary elements for a new housing loan to be made, such as the outstanding balance and the period of the initial contract already elapsed.

However, what often happens is that bank A postpones the transfer of information related to a client's credit to bank B, in an attempt to dissuade the client from transferring. Therefore, on the day of the deed, you may find the cancellation of it, since there is a risk that bank A has not proceeded within the 10 working days it had to transfer the necessary elements to the other bank.  

So, will it be possible to avoid this situation? How? 

How to avoid this situation as a customer?  

As a customer, you can ensure that on the day of the deed, the bank to which you are transferring has all the necessary elements to constitute the new mortgage.

To do this, go to both banks and, if bank A has not yet sent the necessary information to bank B, you can make a complaint.

When ordering the complaints book from bank A and formalizing a complaint, it is obliged to pass all the information that it must, according to the APB protocol.

If you are sure about your decision to transfer the mortgage credit, even after renegotiating with the current bank, do not allow the bank to postpone the deed to try to convince you to give up on the process.

Know that as a customer, you have the right to transfer credit and make a complaint if the process does not progress as it should, legally.

If you need assistance in this process, for an intermediary with banks, you can always turn to a credit intermediary. The agents of the Poupança no Minuto can mediate communication and ensure that situations like these are avoided, at no cost. Contact us and proceed with your home credit transfer, quickly and effectively.