MORTGAGES

Mortgage Loans

BES now offers four different financing solutions, according to your own needs:
BES Mortgage - Classic mortgage product with 0.85% spread, 30 years maximum term and 75% maximum Loan-to-Value. Life insurance is not required

BES Mortgage Transfer - For clients who already have a property in Portugal and wish to raise capital in order to repay existing mortgages with other banks

BES Interest Only - Maximum 5 years interest only, subject to terms and conditions

BES Fixed Rate - Fixed rate mortgage scheme, subject to terms and conditions

BES Clients Benefit from:
Mortgage approval in 2 working days, subject to valuation and provided the application is complete
An excellent level of service, fast and efficient
Extremely competitive terms & conditions
A Constructive approach to all mortgage applications
Clear and Flexible solutions
While in Portugal, a network of over 600 branches and multi-service companies at your disposal

For further information, please contact:

BES Mortgages
33 Queen Street
London EC4R 1ES
United Kingdom

Tel. (+44) 207 332 4341
Fax (+44) 207 332 4340

Email: mortgages@bescl.co.uk

Banco Espírito Santo - BES, Portugal's third largest bank, now offers an innovative Non Residents Mortgage Service especially designed for those in UK and Ireland interested in buying properties in Portugal.

BES provides competitive mortgages in euros secured on the property in Portugal. Our aim is to offer the best conditions in the market and a guaranteed level of service.
(commercial decision in two days when the mortgage application is complete).

Why BES?

- Experience

With more than one century of history, BES is a solid brand name in Portugal. The tradition of an excellent relationship with customers is one of the most recognizable attributes of the bank.

- Know-how

BES has a track record of delivering an excellent level of service and extremely competitive solutions.

- Network

BES has more than 600 branches across Portugal and a vast experience of dealing with international clients, including in UK and Ireland.

- Services

BES Group comprehends multi-service companies, providing a complete package of local solutions, from tax advisory to security and health services.

What should I do first?

1- Decide on the most suitable financial solution for you:

BES Mortgage - Classic mortgage product with 0.95% spread

BES Interest only - Maximum 3 years interest only, subject to terms and conditions

BES Mortgage Transfer - For clients who already have a property in Portugal and wish to raise capital in order to repay existing mortgages with other banks
2- Find out how much you can borrow. Calculate your monthly installments and optimum term of the loan by using our mortgage calculator


How to apply?

You may submit your Mortgage Application Form online or fill it in and send it by e-mail mortgages@beslondon.co.uk, by fax to 020 7332 4340, or by post to:

BES Mortgages in Portugal
33 Queen Street, London EC4CR 1ES, UK

Upon our contact, the required documentation (see Check List) should be sent by post to the above address.


How much can I borrow?

Up to 75% of the property value, subject to your financial situation. Minimum loan is 75.000 euros.
We will take into consideration liabilities, including mortgage/rent payments, personal and bank loans, and maintenance payments. We require proof of income, which can comprise earned income, pension, investment, or rental income.


What is the interest rate spread?

Interest spreads are between 0,95% to 1,15% depending on the financial solution you choose.


What is the maximum term?

30 years (minimum term is 5 years)


What are the fees and charges?

Handling fee: 500€

Property Valuation fee: 175€

Redemption fees (applicable on sums paid in advance to reduce debt)

BES Transfer, 2% of the amount

BES Mortgage / BES Interest only, 1.5% of the amount


How long does the application process take?

A commercial pre-approval normally takes two working days, provided the Bank has received all the relevant documentation from the client. Approval is subject to valuation.


Do I require a life insurance?

No, however home insurance is obligatory


Who takes care of the valuation of the property?

BES will arrange for the valuation to take place. The lending ratio (max 75%) will be calculated on the valuation.


What documentation do I need?

Please see check list


For further information and Mortgage Applications

For further information and Mortgage Applications, please contact:

BES Mortgages in Portugal
33 Queen Street
London EC4R 1ES
United Kingdom

Email: mortgages@beslondon.co.uk
Tel. (+44) 207 332 4341
Fax (+44) 20 7332 4340