Financing

It's easier to buy your house in Portugal.
The excellent weather, the beaches, the great diversity of landscapes and the friendly people make Portugal a tempting vacation destination. Eurocasa Non-Residents from Millennium bcp is the best mortgage to buy or build a house in Portugal for holidays or to let.

Main features:

• The interest rate is very competitive;
• You will have up to 30 years to pay off the mortgage (your age can't exceed 75 at the end of the repayment period);
• Repayment of the loan is by regular monthly installments of principal (capital) and interest;
• The collateral required is a first mortgage on the property to be financed;
• The maximum amount of the loan is the lesser of the following values: 100% of the estimate or construction price or 80%* of the valuation, with a minimum of 50.000 EUR;
  (*) We finance more than 80% of the property's value with a financial application pledge.

Other Benefits:

• Option of choosing up to 5 years "interest-only" payments;
• Life assurance is recommended though not compulsory;

Transfers:

Reduce the monthly payments of your credit by transferring it to Millennium bcp. A smooth and convenient transfer, all costs* incurred by Millennium bcp.

(*) Costs incurred: No Portfolio, Appraisal, or Land Registry Fees Closing Costs and Registration (for Mortgage Loan and additional financing) Penalty for early repayment at other credit institution. Offer valid for financing of over 100,000 EUR and terms longer than 10 years. Applications approved by 10 March and contracted by 31 March 2008.

Example for 200.000 EUR financing 340.000 EUR appraisal amount 30-year term; 1 account holder, aged 35 nominal rate of 5.316% (indexed to Euribor monthly average of 3 months calculated at 365 days on the month preceding each interest period, rounded off to the nearest thousandth - 4.916% in January - plus a 0.4% margin) 5.903% APR (D.L. nº 220/94, 23 de August). Prepayment is subject to a 0.5% or 2% fee for variable and fixed rate schemes, respectively, plus Stamp Duty.

How to get your loan:

In order to submit your application request just return the forms forwarded to you, completed and attached with the following documents to Simpson & Runge International - WE TAKE CARE OF THE REST!:

• National Identity Card or Passport;
• Portuguese Taxpayer (Fiscal) number previously requested through www.alconta.com
• Employer's reference letter with job position, date of admission and annual salary;
• Annual income tax form P60 / proof of income (self-employed);
• Pay slips (last 3 months);
• Bank statements from customer's main Banks (last 3 months) and a bank reference letter;
• Utility bill (confirming residence);
• After the mortgage has been approved the bank will ask for some documents about the property.

Note: If any of these documents are not in Portuguese, English, Spanish or French, you must supply translations, authenticated by the Portuguese Consulate.