Credit Intermediation
Prediclub Imobiliária, in addition to real estate activity, has a credit intermediation department where it provides all customers with consultancy services in relation to real estate credit contracts. The team is made up of 3 members, Filipe Ferreira, Sofia Fernandes and Andreia Oliveira, all former bank employees, with extensive experience in Portuguese Banking. Our advice is personalized and we present the best financial solutions to our clients.
5 BENEFITS OF PREDICLUB CREDIT INTERMEDIATION
Our service is completely free, at no cost and with maximum confidentiality.
FAST
Contact our credit intermediary and define your profile and the type of property you are looking for.
SIMPLE
With your PREDICLUB credit intermediary you have access to the best options on the market for your real estate loan.
IMPARTIAL
Compare the different mortgage products available on the market.
CUSTOMIZED
Select the real estate loan that best suits your needs.
ACCOMPANIED
Complete the purchase of your home accompanied throughout the entire process by the PREDICLUB team of credit intermediaries
PARTNER BANKS
Direct and Simple, Real Estate Mediation, Unipessoal LDA, Linked Credit Intermediary, registration no. 003385, authorized by Banco do Portugal to provide credit intermediation and consultancy services for Housing Credit Agreements.
Information available at: https://www.bportugal.pt/intermediariocreditofar/directo-e-simples-mediacao-imobiliaria-unipessoal-lda
WHAT OUR CUSTOMERS SAY ABOUT US
It was excellent, living abroad is not easy especially when they are buying a house and dealing with the credit process, but Mrs. Sofia and Mrs. Andreia were a miracle who handled everything for us and even though it wasn't easy they didn't give up and did their best to make our dream come true. Thank you all very much.
Carla Freitas and Hugo Moga
I have nothing but praise for the entire Prediclub team, from the beginning they have always been very professional and attentive. Sofia and Bruno Abreu are a great professional example. I am immensely grateful to you for helping me make this dream come true.
Behind great work, there is always a great team. Congratulations on everything.
Matthew Barros.
Excellent experience. Filipe proved to be very helpful, present and interested in making “everything work out” from the beginning.He was kind enough to meet me, for the first time, on a Saturday morning and accompanied me until the day of the public deed. I felt truly safe with him, in fact, any doubt I had, any question that arose, was immediately put to him, and Filipe always answered me very quickly and professionally. I believe it is a differentiator for our team. They are well delivered.
Mafalda May
My experience with Prediclub was excellent, and I would like to thank you for all the care and attention that Mr. Felipe had it, I don't have anything bad to say, on the contrary, only good things!
Thank you for helping me make this dream come true. It was a pleasure! Thank you Felipe!
Fábio Castro
Dear Felipe, we would like to thank you for the service so well performed and for the professionalism with which you handled our entire HPP transfer process. I also mention that nothing was missed, including small details like accompanying me on “D” day, which was crucial for a “Happy ending”.
It was the first time that I used Prediclub's services, despite several transfers already made and I must confess that we were really surprised and satisfied with the quality and professionalism demonstrated. Whenever possible, I will advise other people to use “Filipe from Prediclub”.
Silvestre Torre and Carolina Santos
I WANT TO BE CONTACTED
FREQUENTLY ASKED QUESTIONS
I already have a real estate loan in progress, can I consult Prediclub to find out if I can get the best conditions at another Credit Institution?
Yes, you can consult. Service is completely free
Can I request help from Prediclub for credit consolidation or credit transfer to another Credit Institution?
Yes, service is completely free
I am purchasing a property without the intervention of a real estate agency, can I arrange financing with Prediclub?
Yes, service is completely free
I am purchasing a property with real estate intervention, can I arrange financing with Prediclub?
Yes, service is completely free
What is Mortgage?
Real estate credit is a loan from the credit institution to the customer, for a previously established period of time, used for the acquisition or construction of a permanent, secondary or rental home.
It also includes credit agreements intended for the acquisition or maintenance of property rights over existing or planned land or buildings and credit for payment of the deposit due in connection with the future acquisition of property for permanent, secondary housing or for rent.
As a rule, real estate credit is secured by a housing mortgage.
What is the maximum limit for granting credit?
The value of the credit agreement must not exceed a certain percentage of the value of the property on which the loan mortgage falls. The value of the property corresponds to the minimum between the acquisition price and the evaluated value of the property.
Therefore, the value of the credit agreement must not exceed:
90% of the value of the property (i.e., 90% of the purchase price or the appraisal value, whichever is lower), when a loan for own and permanent housing is involved;
80% of the value of the property, when the credit has other purposes not related to the client's own permanent home;
100% of the value of the property, when the credit is intended for the acquisition of properties owned by institutions and real estate leasing contracts.
Which interest rate modality is most advantageous in real estate financing?
Mortgage loans can be granted with a variable, fixed or mixed interest rate.
If it is variable, the interest rate changes throughout the life of the loan, whenever the index value is reviewed (for example: every 3 months, if the Euribor is 3 months, or every 6 months, if the Euribor is 6 months), because the index value can increase or decrease over time due to factors that have nothing to do with the loan.
If the interest rate is fixed, the customer knows straight away what the interest rate will be in effect until the end of the loan term. When taking out the loan, it is normal for the pre-fixed interest rate to be higher than the variable interest rate, as the term to which it refers is much shorter.
In the case of a mixed interest rate credit agreement, there is a period in which the rate is fixed followed by another period in which the rate is variable.
Only at the end of the loan does the customer know what the best option would have been at the time they signed the contract. The choice between one of the options depends on the customer's expectations regarding the future evolution of interest rates and the charges they want to assume immediately.
When are you entitled to receive a European Standard Information Sheet (FINE)?
Whenever a simulation of loan conditions is carried out, the credit institution or credit intermediary must provide the bank customer with a FINE drawn up based on the information presented by the customer.
Subsequently, when approving the loan, the institution must deliver to the bank customer a FINE that incorporates the approved credit contract conditions, accompanied by the draft of the contract.
What is the maximum financing term for real estate financing?
Real estate credit is, as a rule, long-term credit. Real estate credit contracts or other mortgage credits must, as a rule, not have average terms exceeding 30 years. The maximum term of these contracts cannot exceed:
40 years old, in the case of customers aged less than or equal to 30 years old;
37 years old, in the case of customers over 30 years old and less than or equal to 35 years old;
35 years, in the case of customers over 35 years of age.
Can I renegotiate my credits?
Throughout the life of the loan, the customer may wish to change one or more conditions of their loan, such as: the spread, the index term, the interest rate regime (from variable to fixed or vice versa), the term for repayment of the loan or the repayment modality itself.
The institution is obliged to implement the procedures set out in the Default Risk Action Plan (PARI) whenever:
Check for a significant worsening of the effort rate or a significant effort rate, as part of monitoring the evolution of the effort rate;
Be alerted by the client to facts that indicate the degradation of their financial capacity.
In PARI, the institution assesses the customer's financial capacity to assess whether there is an effective risk of non-compliance with the credit agreement.
If the existence of a risk of default is confirmed, and if they conclude that the bank customer has financial capacity, the institutions must present him with proposals for renegotiating the credit. These proposals must be submitted within 15 days after the client has provided the information and documents that the institution requested.
The proposals presented by institutions may include one or more of the following changes to the conditions of the credit agreement:
Extension of the amortization period;
Setting a grace period for repayment of capital or for repayment of capital and payment of interest (i.e. setting a period during which the customer only pays the interest on the loan or during which he does not pay the installment, with payment deferred until a later date);
Deferral of part of the capital for a future installment;
Reduction of the interest rate applicable to the contract for a certain period of time.
When the renegotiation of the contract provides for the extension of the credit contract repayment period, bank customers can resume the previously agreed period. Customers who wish to do so must contact the institutions during the application period of the refund deadline extension. Institutions are obliged to inform customers about the financial impact of resuming the deadline and carry out this resumption within 10 days of the customer's request.
In the five years following the agreement to extend the repayment period of the credit agreement, institutions are obliged to inform customers, annually, about the right to resume the previous repayment period of the credit agreement.
Credit institutions cannot charge fees or increase the interest rate on credit agreements as a result of renegotiating the conditions of the credit agreement. Customers are also exempt from paying fees, particularly regarding property registration.
Institutions may also propose consolidating several credit agreements or entering into a new credit agreement to refinance debt under the existing credit agreement.
Customers are not obliged to accept the proposals presented by the institutions.
Measures to mitigate the impact of rising interest rates on real estate credit
A set of measures is in force until December 31, 2023, to mitigate the effects of increased interest rates on credit contracts for the acquisition or construction of permanent housing, subject to a variable interest rate regime, with a debt amount equal to or less than 300 thousand euros.
These measures oblige institutions:
To assess the impact of interest rate increases on customers' effort rate and
To present proposals for renegotiating credit contracts, (i) if they verify that there is a significant worsening of the effort rate or a significant effort rate or (ii) if they are alerted by the customer about facts that indicate the degradation of their financial capacity and confirm the existence of a risk of default.
Until December 31, 2023, measures will also be in force to facilitate early repayment of credit agreements, namely:
- The temporary suspension of the collection of the commission for early repayment, partial or total, of permanent real estate credit contracts at a variable interest rate, regardless of the amount owed;
- The possibility of early redemption of savings plans without penalty.
Direct and Simple, Mediação Imobiliária Unipessoal, Lda. Registration no.: 003385 Estrada Monumental, Fórum Madeira, Loja 386B 9000-100 Funchal
Regulatory and Supervisory Entity: Banco de Portugal Means of alternative dispute resolution where we are registered: RAM Consumer Dispute Arbitration Center.
