Banks open the tap of housing credit

The housing credit marathon seems to be in the red. All Portuguese banks are gathering the necessary efforts to attract more customers interested in home loan.
 

The numbers show signs of growth in mortgage lending since this is a profitable product for the institutions. In addition to revenues, banks are able to profit from all other products that customers have to subscribe to if they want to get financing.
 

According to the Jornal de Negócios, banks have again been proactive in attracting clients who want to borrow a home. The offerings are the mirror of this proactivity and this "will" to do business.
 

"BCP is, by the end of the year, offering interest-free installments for up to six months. "Until December 31, 2017, we have for you three-month or six-month interest-free installments up to the maximum accumulated amount of two thousand euros of uncollected interest," it can be read on the bank's website. The term of six months will only be applied in financing over 150,000 euros and is accessible both to customers who choose the fixed rate and to those who choose the variable rate. "
 

"CGD already offers 100 euros in credit card to those who choose to contract financing for the purchase of the house until the beginning of next year. "We offer 100 euros in credit card if you join the Caixa Account and hire a Mortgage in the Caixa," the bank said. The campaign is valid for proposals who are admitted from September 18 to December 31 and hired by January 31, 2018. "
 

"The New Bank, in turn, lends 100% of the value of the property if the client presents a second property as collateral. "If you want special financing conditions you can reinforce the guarantee of your loan with a second property of yours or, for example, your parents or close relatives," the bank writes.
 

"In the case of Santander, the offer focuses on ensuring a lower spread in the first six months of the year. "This credit gives access to a promotional interest rate of 1.23% in the first six months," it can be read on the website of the financial institution. "After the first six months, a variable rate will be applied that results from the sum of the 12-month Euribor average spread." "
 

"Finally Montepio, which offers customers a 50% reduction in the cost of the evaluation, if they contract financing until the end of the year. The two main conditions of the bank's campaign are the reduction of 50% of the cost of valuation of the property that, according to the information available on the website, results in a saving of 105 euros and a reduction of up to 0.7% in the spread. But to access this credit customers need to have a balance of deposits with a term of more than or equal to 35,000 euros and subscribe to five products / services. "
 

Source: Business Journal