Offers
Updated 25.09.2026 · applicant Angelo Wellens · goal: a 400 000 € loan on a 585 000 € home (68 % of price), ~227 000 € own funds for the down payment and costs · 7 banks, 15 offers via a broker
How this table works
The broker’s comparison of 18.09.2026 — 7 banks, 15 offers — quoted on a 585 000 € home with a 400 000 € loan. Set the house price and down payment in the Scenario panel and every offer is re-run for your price and down payment: payments from each bank’s rates, taxes re-calculated, insurance scaled, and any bank that won’t lend that much is marked “capped”. At 585 000 € and 185 000 € down the table matches the broker’s sheet to the cent. Click an offer to select it in the Scenario panel.
Breakdown
One-off · cash for the deal
| Down payment i | |
| Property transfer tax (IMT) i | |
| Stamp duty on the purchase (IS 0,8 % of price) i | |
| Stamp duty on the loan (IS 0,6 % of loan) i | |
| Bank valuation i | |
| Bank fees and registrations i | |
| Notary for the escritura i | |
| Survey and lawyer — optional i | |
| Total cash for the deal i |
Every month · first 24 months
| Loan: principal + interest i | |
| Life insurance i | |
| Home insurance i | |
| Total per month i |
When the money goes out · scale in days from the offer, dot size = share of the total
Whole cash pool for the deal: (100 %). Each payment counts towards the next: the reservation towards the deposit, the deposit towards the price. Without a CPCV no deposit is paid — the whole amount moves to the escritura (almost the entire pool on one day). The deposit is negotiable: 10 % is customary, 5 % can be agreed. IMT and stamp duty are paid by payment slip (guia) right before signing, so by escritura day the whole remainder must be liquid. The reservation is assumed at 1 500 €, survey and lawyer at roughly 550 €.
How this is calculated
One offer in detail: what you pay upfront, every month, and over the whole term. Pick the offer in the Scenario panel or click it in the Offers table. Your income, house price and down payment drive the Offers table too.
The “optimum” button sets price = your income ceiling ÷ the bank’s % of price: the last price at which the down payment is still the bank’s minimum. Above it the loan stays at the ceiling and every extra euro of price is ours. Formulas: loan = min(price − down payment, bank % × price, income ceiling); annuity payment at the bank’s rate (fixed period per offer: 24, 36 or 60 months, or the whole term; then Euribor 6M 2,46 % + spread); IMT = base × rate − abatimento. Checked against the broker’s comparison at 585 000 € and 400 000 €: Eurobic mixed 1 473,22 €, Santander 1 462,34 €, CGD 1 611,86 €, Bankinter fixed 1 832,98 € — all match; IMT 33 036,65 € + stamp duties 7 080,00 € + each bank’s fees reproduce its “total costs including taxes” to the cent.
Rent vs buy
Assumptions
Same house, bank and down payment as in the Scenario panel. The renter keeps the same money that would have gone into the deal and each month sets aside the difference between the owner’s costs and the rent. The answer depends more on the horizon, house-price growth and the return on savings than on the bank’s terms — move them.
Assumptions: both scenarios spend the same — the renter keeps the same cash that would have gone into the deal and each month sets aside (or draws down) the difference between the owner’s costs (payment + insurance + upkeep) and the rent. Loan principal is not a cost but savings held in the walls; the owner’s costs are interest, insurance, upkeep and the forgone return on the cash. Upkeep is 1,2 % of the house’s current value per year (repairs ~1 % + IMI ~0,2 %). At the end of the horizon the buyer sells: minus agent 5 % + IVA (6,15 % of price) and a 0,5 % early-repayment fee on the balance. Not included: tax on investment income (IRS 28 %) and capital-gains tax on the sale (mais-valias) — none if the money goes into another primary home, otherwise half the gain is taxed under IRS. Rate after the fixed period = current Euribor; everything in nominal terms. Default rent: 1 600 €/month, roughly what a comparable home rents for.
Status by bank
| Bank | Status iStatus = the stage the file is physically at. Percentage, amount and compliance are properties, not status. A stage changes only on an event with a date and a source (shown in the bank’s popup); we never move forward without a document, but can move back (refusal).
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Next step | Offer | Loan offered | Term | ||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Eurobic 👑 | 4 · approved, no propertyStage 4 since 22.09 — approval letter (carta de aprovação) for 400 000 € / 35 years, valid 90 days. 18.09 — offer via the broker, two options: mixed with a 2-year fix at 2,70 %, then Euribor 6M + 0,65 %; or variable, Euribor 6M + 0,65 % = 3,11 %. Lowest TAEG of every offer (3,70 %) and the lowest total cost on 400 000 € (MTIC 709 936,02 €). 19.09 — formal decision requested; 22.09 — letter received. Conditions: salary paid into a Eurobic account + the bank’s life and home insurance. 23.09 — account opened, compliance ✓. | Choose mixed 2 yrs or variable. Send the property documents once the house is chosen — the letter expires 21.12. | yes | 400 000 €68 % of price | 35 yrs | ||||||||||||||||||||||||||||||||
| Santander 👑 | 3 · decision pending, no propertyStage 3 since 19.09 — formal decision requested via the broker. 18.09 — offer: mixed with a 2-year fix at 2,65 %, then Euribor 6M + 0,65 %, 35 years. The lowest monthly payment on 400 000 € with insurance (1 590,14 €) thanks to cheap life cover (68,95 €/month), but TAEG 4,50 % and MTIC 801 333,08 € — ~91 000 € more than Eurobic over the term. The broker says the difference sits in the insurance and linked products; we asked for the breakdown. | Waiting for the decision (1–2 weeks). Ask for the product breakdown behind the 4,50 % TAEG. | yes | 400 000 € | 35 yrs | ||||||||||||||||||||||||||||||||
| CGD | 3 · decision pending, no propertyStage 3 since 17.09 — the bank asked for IRS 2025 and three months of statements “to proceed with the analysis”; sent the same day. 18.09 — offer in the broker’s comparison: mixed with a 2-year fix at 2,65 %, then Euribor 6M + 0,70 %, 30 years. The shorter 30-year term makes the payment higher (1 755,85 € with insurance) but the MTIC is the second lowest (714 914,60 €). | Documents sent 17.09 — waiting for the decision. Ask whether 35 years is possible. | yes | 400 000 € | 30 yrs | ||||||||||||||||||||||||||||||||
| Banco BPI | 2 · preliminary analysisStage 2 since 18.09 — three options on 400 000 € / 34 years: mixed with a 3-year fix at 2,80 %; variable at Euribor 6M + 0,75 % = 3,21 %; fixed for the whole term at 3,45 %. The highest spread of all offers (0,75 %) and the highest TAEGs (4,50–4,80 %). The only bank besides Bankinter offering a rate fixed for the whole term. | Backup. Keep the fixed-for-life option in mind if Euribor starts rising. | yes | 400 000 € | 34 yrs | ||||||||||||||||||||||||||||||||
| Bankinter | 2 · preliminary analysisStage 2 since 18.09 — three options, but only on a 25-year term: mixed 1-year fix at 2,25 %, mixed 5-year fix at 2,59 %, or fixed for the whole term at 2,69 %. The short term pushes the payment above 1 950 € with insurance, but the fixed option has one of the lowest total costs (MTIC 636 154,75 €). Life insurance is expensive: 166,81 €/month. | Ask for a 35-year version and a quote with external life insurance. | yes | 400 000 € | 25 yrs | ||||||||||||||||||||||||||||||||
| Crédito Agrícola | 2 · preliminary analysisStage 2 since 18.09 — mixed with a 3-year fix at 2,45 %, then Euribor 6M + 0,65 %, 35 years. The lowest payment without insurance (1 419,28 €), but its life insurance costs 330,70 €/month — two to five times the others — which takes the payment to 1 762,13 € and the MTIC to 792 940,34 €. The broker thinks external life cover is allowed. | Ask for a quote with external life insurance; without it, not competitive. | yes | 400 000 € | 35 yrs | ||||||||||||||||||||||||||||||||
| Abanca | 2 · preliminary analysisStage 2 since 18.09 — but only 351 000 €: the bank caps the loan at 60 % of the price (351 000 / 585 000). Four mixed options (1, 2, 3 or 5-year fix at 2,25–2,50 %, then Euribor 6M + 0,60 %), 35 years, TAEG 3,70–3,80 % — the lowest spread of all. At 60 % we would need ~234 000 € down plus ~42 800 € in costs. | Ask if 400 000 € is possible; otherwise out — the down payment doesn’t fit. | yes | 351 000 €60 % of price | 35 yrs | ||||||||||||||||||||||||||||||||
| Novo Banco | Refused · at 1–2Refused at stage 1–2: the broker’s message of 12.09 — declined, no reason given. | Nothing. | — | — | — | ||||||||||||||||||||||||||||||||
| Millennium BCP | Refused · at 2Refused at stage 2, 15.09: debt-to-income over the bank’s limit when counting self-employed income at 75 %. | Nothing. | — | — | — | ||||||||||||||||||||||||||||||||
| UCI | Dropped · at 2Dropped by us at stage 2, 16.09: a specialist mortgage lender offering 70 % of price for the self-employed and a 5-year fix at 4,25 % — the most expensive rate we were quoted. | Nothing. | — | — | — |
All figures come from the broker’s comparison of 18.09.2026 (acquisition value 585 000 €, loan 400 000 €, 6-month Euribor at 2,46 %), except Eurobic’s approval letter of 22.09. The terms run from 25 to 35 years, so don’t compare offers on the monthly payment alone: compare TAEG and total cost (MTIC). Bankinter looks expensive per month, but its 25-year term gives one of the lowest total costs; Santander has the lowest payment but one of the highest total costs. Abanca’s figures are on 351 000 € because it lends only 60 % of the price. “With insurance” includes life insurance on the borrower and home insurance at the starting premium; life premiums rise with age. Two badges — hover for details: Lowest TAEG and total cost (Eurobic, 3,70 %) and Lowest payment on 400 000 € (Santander, 1 590,14 € with insurance). No bank has given property-specific final approval yet; that needs a chosen house and a valuation.
How status works
Status is the stage the file has reached (1 file → 2 preliminary analysis → 3 decision pending, no property → 4 approved, no property → 5 property-specific); the glossary is behind the in the column header. “Next step” is what we are waiting for from the bank or doing ourselves. Hover over a status pill (tap on a phone) to see the bank’s history: what it replied, when, and what we’re waiting for.
Deal roadmap
The path from a house we like to the keys. The order fits our situation: we already have an approval letter without a property (Eurobic), so the bank steps are short, and the promissory contract (CPCV) moves to the end or drops out. Timings are typical for the market.
Offer and reservation (proposta / ficha de reserva) seller replies in 1–5 days
A written price offer through the agency. Often this is a reservation form: we pay 1 000–5 000 € as a deposit to the agency (not the seller); once the seller accepts, the property comes off the market. The amount counts towards the price. The key clause: if the bank doesn’t lend, the money is returned. Before signing, write in a realistic deadline to the CPCV/escritura — 30–45 days, with room for the bank’s cycle.
The reservation form isn’t mandatory. It’s agency practice, not a legal requirement: an offer can be made by a simple letter (proposta de compra) with no money. The amount and terms are negotiable — you can offer 500–1 000 € and add your own conditions (bank valuation not below X, survey). But the reservation also works for us: once accepted, the seller is locked in and can’t sell to someone else during the bank’s cycle.
Property valuation (avaliação) visit + report 3–7 days
The bank’s valuer inspects the house and writes a report. The loan is limited to a share of the lower of price and valuation — at 400 000 € on 585 000 € we are at 68 %, well under the usual 80–90 % limits, so a valuation up to ~15 % below the price still works.
Low valuation = exit without loss. A valuation below the threshold cuts the loan, and an insufficient loan should be covered by the reservation’s financing clause. To be safe, spell it out when signing: “if the bank valuation is below X € or the approved loan is below Y € — withdrawal with a full refund of the reservation”.
Final approval for the property reflection period 7–30 days
The bank confirms the loan for this house and sends the contract offer. By law there’s a minimum of 7 days to consider it and a maximum of 30. From this point the money is guaranteed.
CPCV (promissory contract with deposit) floating step
The deposit (sinal) of ~10 % now goes to the seller. The market classic is to sign right after the offer, before the bank: then a financing condition (condição suspensiva) is essential, otherwise the deposit is lost if the bank refuses. Our route: after final approval (almost no risk), or skip it entirely and go straight to the escritura. Cost of backing out: the buyer loses the deposit, the seller repays double, and for housing a court can enforce the sale (execução específica).
Escritura (escritura + mortgage deed) 1 day
At the notary: signatures, the bank releases the loan, the seller gets paid, we get the keys. Ownership transfers only here. The bank registers the purchase and the mortgage (already in its costs).
In total, from offer acceptance to keys is usually 1,5–3 months (minimum ~1 month with documents ready and no CPCV, maximum ~4 with a seller chain and a slow bank). The payment schedule by stage is in “When the money goes out” in Breakdown.
Banks
The cheapest payment isn’t the cheapest loan. On the same 400 000 € and 35 years, Santander’s payment is 7,78 € a month lower than Eurobic’s, yet its total cost is ~91 400 € higher. Across terms it’s starker: Bankinter’s 25-year fixed has the highest payment of all (2 039,76 €) and one of the lowest total costs (636 154,75 €). Pick on TAEG and MTIC; use the payment only to check what we can carry.
Eurobic vs Santander
The two front-runners, on the same amount and term (400 000 €, 35 years) — so unlike the Offers table, every row compares directly.
| Eurobic (mixed 2 yrs) | Santander (mixed 2 yrs) | |
|---|---|---|
| Term | 35 years | 35 years |
| Fixed rate, first 2 years (TAN) | 2,70 % | 2,65 % |
| Spread after the fixed period | 0,65 % | 0,65 % |
| Effective rate (TAEG) | 3,70 % | 4,50 % |
| Payment without insurance | 1 473,22 € | 1 462,34 € |
| Insurance: life + home | 85,37 € + 39,33 € | 68,95 € + 58,85 € |
| Payment with insurance | 1 597,92 € | 1 590,14 € |
| Total cost of the loan (MTIC) | 709 936,02 € | 801 333,08 € |
| Upfront costs incl. taxes | 42 339,00 € | 41 892,75 € |
Santander wins five small rows — 7,78 € a month, 446 € upfront — and loses the one that matters: TAEG 4,50 % against 3,70 %, and ~91 400 € more in total cost over 35 years. The monthly payment hides costs that the TAEG and MTIC include: linked products, fees, and insurance premiums that rise with age. Upfront costs are mostly tax: IMT 33 036,65 € + purchase stamp duty 4 680,00 € + loan stamp duty 2 400,00 € = 40 116,65 € for both banks; the rest is bank fees and registrations (Eurobic 2 222,35 €, Santander 1 776,10 €).
What we know about each bank
Eurobic
- 22.09.2026 — approval letter for 400 000 € / 35 years, valid 90 days (until 21.12). Final approval still needs a property and a valuation.
- Mixed: fixed 2,70 % for 24 months, then Euribor 6M + 0,65 % (3,11 % today). Variable: Euribor 6M + 0,65 % from day one.
- TAEG 3,70 % on both — the lowest of every offer. MTIC 709 936,02 € (mixed) / 713 938,97 € (variable).
- Payment 1 473,22 € (mixed) / 1 564,06 € (variable); with insurance 1 597,92 € / 1 689,00 €. Life 85,37 € + home 39,33 €/month.
- Upfront costs incl. taxes 42 339,00 € — the bank’s part is 2 222,35 €.
- Conditions: salary into a Eurobic account + the bank’s life and home insurance. Account opened 23.09, compliance passed.
Santander
- Offer 18.09: mixed 2-year fix at 2,65 %, then Euribor 6M + 0,65 %; 35 years; TAEG 4,50 %; MTIC 801 333,08 €.
- Payment 1 462,34 € without insurance, 1 590,14 € with — the lowest monthly figure on 400 000 €. Life 68,95 € + home 58,85 €/month.
- Upfront costs incl. taxes 41 892,75 €.
- Formal decision requested 19.09 via the broker.
CGD
- Offer 18.09: mixed 2-year fix at 2,65 %, then Euribor 6M + 0,70 %; 30 years; TAEG 4,40 %; MTIC 714 914,60 €.
- Payment 1 611,86 € without insurance, 1 755,85 € with. Life 107,13 € + home 36,86 €/month.
- Upfront costs incl. taxes 41 301,50 € — the lowest overall.
- 17.09 — asked for IRS 2025 and three months of bank statements; sent the same day. Decision pending.
Banco BPI
- Three options on 400 000 € / 34 years, all with a 0,75 % spread — the highest quoted.
- Mixed 3-year fix 2,80 %: TAEG 4,50 %, 1 670,55 € with insurance, MTIC 780 716,26 €.
- Variable 3,21 %: TAEG 4,60 %, 1 761,50 €, MTIC 787 674,28 €.
- Fixed for the whole term 3,45 %: TAEG 4,80 %, 1 816,05 €, MTIC 811 048,61 € — no Euribor risk at all.
- Life 102,12 € + home 47,36 €/month; upfront 41 410,05 € (42 148,45 € on the variable).
Bankinter
- Only a 25-year term. Mixed 1-year 2,25 % (TAEG 4,50 %), mixed 5-year 2,59 % (4,30 %), fixed for the whole term 2,69 % (4,20 %).
- Payments with insurance 1 951,30 € / 2 019,43 € / 2 039,76 € — the highest, because of the short term.
- MTIC 656 236,76 € / 649 607,75 € / 636 154,75 € — among the lowest, for the same reason: fewer years of interest.
- Life insurance 166,81 €/month, home 39,97 €/month; upfront 41 941,68 €.
Crédito Agrícola · Abanca
- Crédito Agrícola: mixed 3-year fix at 2,45 %, 35 years, TAEG 4,40 %. The lowest payment without insurance (1 419,28 €), but life insurance at 330,70 €/month takes it to 1 762,13 € and the MTIC to 792 940,34 €. Upfront 43 086,30 €, the highest.
- Abanca: the lowest spread (0,60 %) and TAEG 3,70–3,80 % on four mixed options (1/2/3/5-year fix, 2,25–2,50 %), 35 years — but only 351 000 €, 60 % of the price. Payments 1 373,63–1 420,08 € with insurance on that amount; upfront 42 778,03 €.
Refused or dropped
- Novo Banco declined on 12.09, no reason given.
- Millennium BCP declined on 15.09: debt-to-income over its limit, counting self-employed income at 75 %.
- UCI dropped by us on 16.09: 70 % of price and a 4,25 % five-year fix.
How to compare offers
The headline rate is misleading: a bank can offer a low rate and make it back through insurance and fees. Compare loans at the same amount and term, using these four figures — all of them are in the bank’s standard offer.
FINE in Portuguese (ESIS in English): the standard EU mortgage offer every bank must give you, with rate, TAEG, payment, fees and total cost in the same format.
Nominal annual rate — the loan’s interest rate on its own, without costs.
Effective annual rate: TAN + mandatory insurance, fees and taxes. The main figure for comparing banks.
Monthly payment. Handy for “can we afford it?”, but banks can only be compared on it at equal amount and term.
Everything you pay the bank over the whole term: principal + interest + costs. The loan’s total price in one number.