The Housing Credit is again the order of the day, with credit amounts increasing every month. We have seen an increase in the competition of the banks which has been translated in the reduction of the practiced rates, namely of the spread of the loan.
In this article we make a comparison of the offer of some of the main banks operating in Portugal, for credit values of € 125,000.
Before You Begin Your Review
The comparison we make is based on table spreads and simulators and despite our best efforts, it may have inaccuracies or errors.
Let us also alert you to something very important. These are not the best spreads you can get. Therefore, if you want access to exclusive and competitive conditions, do not forget to fill out the Rosalind housing credit form. We do the whole job for you and without any cost.
Client Type of Our Simulation Of Mortgage
Our analysis was performed running the housing credit simulators and a set of the main banks operating in Portugal. In the simulations we used a type client with the following characteristics:
- Not married;
- Annual income of € 25,000
- No other credit charges (if you have other credits we suggest you read the article “Consolidated Credit with Mortgage” that shows you a great money-saving strategy);
- 35 years old
- 30 years of contract
- Loan / guarantee ratio of 80%
What is the best bank for housing credit?
Our analysis consisted of comparing several variables in housing credit. So we left the alert to focus your analysis on the APR and NEVER on the spread . This is because there is still the practice of “hiding” costs that are not so visible, they are ultimately disregarded by consumers. But the fundamental variable must even be the APR, since this is the indicator of the costs involved in the process.
Based on the data collected in the simulations we conducted in May, Good Finance appears to be the most aggressive bank for a credit of € 125,000. The great value of this offer is the reduced obligation to contract associated products , with only the orderly account (which has no commissions) and life insurance and multi-risk insurance.
Following Good Finance we have Banco Santander but in this case the client has to be a Select customer (it obliges the contracting of several products). In addition, insurance costs are the most expensive in our simulation (we did not analyze the coverage here, but it is important that you consider the coverage in your analysis). For more information on life insurance we suggest you read our review on everything you need to know in life insurance.
It is possible to lower the mortgage credit spread!
Note that you can lower your installment. Rosalind has a two-pronged approach to ensuring you can save money on credit:
- We negotiate the best conditions, seeking to lower the spread and exempt as much as possible the contracting of associated products. This negotiation aims at lowering the APR that it will support;
- We negotiate insurance for you. In many cases the banks exempt the penalty for contracting insurance with another insurer. But even if they do not, it is possible that you save a lot of money.
We get lower spreads for your credit than the table
We reinforce something that is essential in your analysis. By trading professionally and in large volume, we have spreads below the spreads identified in the table above. In many cases the reduction is very significant.
The Rosalind housing hiring service, besides guaranteeing you the best possible conditions, allows you to save time and hassle in all the bureaucracies. And it is a service that does not have any cost to you so you only have to gain in resorting to our specialists.