Build your home

• Minimum amount 
  Recommended minimum: €10,000.
• Maximum amount 
  Up to 90% of the lower value between: 
  – The expected valuation of the property upon completion of construction, or 
  – The land purchase price plus construction costs, for main residence purposes.

For other purposes, financing is limited to 80% of the same reference values.

• Bank‑owned land 
  If the land belongs to the bank, financing may reach 100% of the lower value between the expected valuation upon completion and the land purchase price plus construction costs.
• All property valuations and estimated construction costs are carried out by bank‑appointed valuers, certified by the CMVM (Portuguese Securities Market Commission).

• Variable interest rate 
  Indexed to 12‑month Euribor, plus a spread from 0.9% (*).
• The construction phase 
  You only pay interest on the amount drawn down.
• After construction is completed 
  Repayments become constant instalments of capital/principal and interest.

• Age up to 30 years. Maximum term 40 years 
• Age 31 to 35 years. Maximum term 37 years 
• Age over 35 years. Maximum term 35 years

The age of the oldest borrower must not exceed 75 years at the end of the loan.

• You have 24 months to complete the construction after signing the loan agreement.

• Loans are secured by a mortgage over the property, and over the land in the case of construction. 
• The mortgage over the financed property may be partially or fully replaced by a mortgage over another property. 
• Guarantors may also be used to secure repayment of the loan.

• The mortgage is automatically settled with the payment of the final instalment.
• Early repayment 

For variable‑rate loans, an early repayment fee of 0.5% applies to the repaid capital/principal.

• Legal exemptions 
  – Under Decree‑Law 80‑A/2022 (25 November), early repayment of variable‑rate mortgages for the construction of a main residence is exempt from fees until 31/12/2023. 
  – Under Decree‑Law 74‑A/2017 (23 June), early repayment due to death, unemployment or professional relocation is exempt from fees.

Obtain a narrower spread by 0.5% with the First Bank Pack 

Salary crediting 
Monthly salary or pension credits identified with payment types “08” or “11”. 
Other types of credits may be accepted, subject to: 
• A minimum monthly amount above €250 
• A minimum regular crediting period of 4 months

Packaged current account 
A current account that bundles products and services together. When taken out as a set, it benefits from improved conditions and a favourable account fee.

Obtain a narrower spread by 0.2% with the Protection Pack.

Mortgage Life Insurance 
Life insurance (GamaLife) associated with the mortgage, ensuring full repayment of the outstanding balance in the event of death or total and permanent disability, for all non‑exempt borrowers.

Home Multi‑risk Insurance 
Home insurance provided by GNB Seguros, Maxi or Top plans, linked to the mortgage.

You may choose an insurer of your preference, provided the policy includes equivalent cover and minimum required conditions. 
In this case, the 0.2% narrowing in spread/spread reduction does not apply.