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Move home now and sell
your current house with ease. |
| If you own a property in Portugal and you wish to move to a new one, there is no need to wait to sell your existing property. |
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REQUEST THIS MORTGAGE HERE>>
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BENEFIT FROM:
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- A complete mortgage solution that provides you 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.
- Up to 5 years without repaying capital on the current house (interest-only).
- 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.
- Mortgage term up to 30 years (which may go up to 40 years, depending on the product, client profile and risk analysis) and up to 75 years age at the end of the loan.
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Current House
Value:
100.000 Euros.
Existing Mortgage:
50.000 Euros
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New House
Value:
180.000 Euros.
Loan Amount:
140.000 Euros.
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In this example, with the total amount of 190.000€ , for a period of 360 months and nominal interest rate of 4.362%, these were your conditions:
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| Without Bridging Loan: In a purchase with these characteristics you will pay a monthly instalment of 947,19 € (Insurance not included).
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With Bridging Loan: The loan amount is divided in two loans: a current home loan, that corresponds to the agreed repayment amount of the current house (75% of the current house value: 75,000 € in the example below) and the new home loan (the difference between the Total Loan Amount and the Repayment Amount: 115,000 € in the example below).
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Check how much you would pay with Bridging Loan Solution:
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With UCI Bridging Loan, for the same loan amount, the monthly installment on the first year is 845.93 €.
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Buy your new home without having to sell first.
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APRC Crédito Habitação Fácil of 5.062%.
APRC Troca de Casa of 4.934%.
Example of product finance Bridging Loan with a total value of 190,000 euros for a total assessment value of 280,000 euros (financing for the purchase of 140,000 euros and evaluation of 180,000 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 Mortgage valued at 115,000 euros for a period of 360 months. Indexed to Euribor 6 months plus a margin of 4.0%. Annual Percentage Rate of Charges 5.062%. Current home loan with Troca de Casa product valued at 75,000 euros for a period of 360 months, without repaying capital through a period of 5 years. Indexed to Euribor 6 months plus a margin of 4.0%. 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. Annual Percentage Rate of Charges 4.934%. Valid for 1 applicant of 30 years of age. Includes initial burden with 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 March 2013.
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