Switch your Mortgage
Mortgage switching
- New, more competitive mortgage spreads
- We cover transfer costs
- Applies to loans from €100,000
- Special switching conditions
- Fixed interest rate option
- APR
4.8% APR | 4.1% APR with optional associated sales (*)
Mortgage switching
Switching your mortgage to novobanco is an opportunity to reduce your monthly payment.
For variable‑rate loans from €100,000, transferring your mortgage to novobanco comes with no transfer costs and access to new, competitive spreads.
Switching your mortgage is easy, fast and 100% online. Use our mortgage switching simulator today and see how much you could save on your monthly instalment.
APR 4.7% | APR 4.1%
(*) Subject to taking out the following products: salary domiciliation; home multi‑risk insurance with Mudum; life insurance linked to the mortgage with GamaLife; and a packaged current account. Eligibility for these products is assessed monthly. Failure to maintain the required products will result in the loss of the spread reduction benefits after the third instalment.
Switching your mortgage comes with clear benefits
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Eligible loan purposesCost‑free mortgage switching for several purposes:
• Buy a home
• Build a main residence, including renovations, land, garage and storage unit linked to the home -
We cover switching costs- Applies to loans from €100,000:
- Reimbursement of registration and deed costs
- Coverage of early repayment fee on outstanding credit, capped at 0.5% of the transferred amount
- Waiver of initial fees: credit assessment, valuation and formalisation
- See an example
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SpreadMore competitive mortgage spreads
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Fixed, mixed or variable interest ratesA) Fixed or mixed rate for 2, 3, 4, 5, 10, 15, 20, 25 or 30 years
B) Variable rate indexed to Euribor at 3, 6 or 12 months
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Apply fully onlineApply wherever you are. No need to visit a Branch
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Instant pre‑approvalSimulate your case and receive an immediate pre‑analysis
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Additional fundingA diversified range of credit solutions available to complement your needs
Switch your mortgage with no transfer costs and a competitive spread.
If you’re looking for the best bank to switch your mortgage, don’t miss the opportunity to reduce your monthly payment.
novobanco takes care of everything. Including the transfer costs.
Mortgage switching simulator
Get a quote
Run a simulation and see how much you could save by switching your mortgage
*To use the calculator, please select English in the top right corner
Submit your application
Submit your mortgage switching request online
Complete the deed
Track the process online all the way through to the deed
João saved €1,404.00 in mortgage switching costs
João saved €1,404.00 in mortgage switching costs
João was 30 years old and needed funding of €150,000.
By switching his mortgage to novobanco, João paid no application assessment fees, no property valuation fees and no deed fees. He also received reimbursement of registration and deed costs.
Switching costs saved:
| Supported or reimbursed costs | Amount saved |
| Application assessment fees | €332,80 |
| Valuation fees | €322,40 |
| Loan setup fees | €208,00 |
| Registration costs | €225,00 |
| Deed costs | €315,80 |
| Total: | €1 404,00 |
After completing the deed, João achieved total benefits of €1,404.00 in mortgage switching costs. All supported by novobanco.
If you want to improve the conditions of your mortgage, follow João’s example and see how much you could benefit by switching your mortgage to novobanco.
General features: mortgage switching
- The mortgage amount with novobanco must be equal to or lower than the outstanding balance at the other bank.
- Properties older than 2 years. Main residence
- Up to 100% of the outstanding balance, provided it does not exceed 90% of the property valuation.
- Properties less than 2 years old. Main residence
Up to 100% of the outstanding balance, provided it does not exceed 90% of the property valuation or 90% of the deed value. The lower value applies. - Properties older than 2 years. Second home or buy‑to‑let
Up to 100% of the outstanding balance, provided it does not exceed 80% of the property valuation. - Properties less than 2 years old. Second home or buy‑to‑let
Up to 100% of the outstanding balance, provided it does not exceed 80% of the property valuation or 80% of the deed value. The lower value applies. - Property valuations and estimated construction or renovation costs are always carried out by valuers appointed by novobanco, certified by the CMVM.
- Spread from 0.9%
- Variable interest rate
Indexed to 12‑month Euribor, plus spread. - Fixed interest rate
Applies for the entire loan term, for 2 to 5 years, plus spread. - Mixed interest rate
During an initial period of 2 to 5 years, the rate is fixed plus spread.
For the remaining term, the rate becomes variable, indexed to 12‑month Euribor, plus spread.
- 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 may not exceed 75 years at the end of the loan.
- To strengthen the bank’s assurance that the loan will be repaid, you may provide additional property as collateral, besides the land or home under construction.
- You may also appoint guarantors to support repayment of the mortgage.
- 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. - Legal exemptions
– Under Decree‑Law 80‑A/2022 (25 November), early repayments of variable‑rate mortgages for the purchase or construction of a main residence are 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.
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Frequently asked questions
Mortgage switching is the process of moving your mortgage from one bank to another, with the aim of securing better conditions, such as a lower interest rate, a more competitive spread or more advantageous loan terms.
When you switch your mortgage to novobanco, you can benefit from special transfer conditions.
In many cases, novobanco supports or reimburses transfer costs, helping to reduce or eliminate the expenses usually associated with switching.
Switching your mortgage to novobanco offers several advantages, including:
• Support of transfer costs
• New, competitive spreads
• Option of fixed, mixed or variable interest rates
• A fully online process
Yes. At novobanco, you can request a mortgage switch at any time.
Visit one of our Branches for personalised support.
Transfers – Variable Rate:
Excluding the impact of optional associated sales: APRC of 4.8%; Variable APR of 4.298% (12-month Euribor of 2.798% as of June 2026 and spread of 1.50%); monthly instalment of €742.13; MTIC (total amount payable by the consumer): €279,473.17; average annual life insurance premium of €222.67. Demand deposit account quarterly maintenance fee €16.20 (including Stamp Duty).
Including the impact of optional associated sales (*): APRC of 4.1%; Variable APR of 3.598% (12-month Euribor of 2.798% as of June 2026 and spread of 0.80%); monthly instalment of €681.80; MTIC (total amount payable by the consumer): €258,492.10; average annual life insurance premium of €213.59. Monthly Account Maintenance Fee: €8.22 (including Stamp Duty).
Initial fees and expenses (including ISUC [stamp duty on credit usage]): Exempt; Fees and Regular expenses: Comprehensive insurance (annual premium €122.63).
Transfers – 2-Year Mixed Rate:
Excluding the impact of optional associated sales: APRC of 4.8%; Fixed APR of 4.207% (2-year fixed rate of 2.707% and spread of 1.50%) followed by Variable APR of 4.298% (12-month Euribor of 2.798% as of June 2026 and spread of 1.50%); 24 monthly instalments of €734.14 and 336 monthly instalments of €741.72; MTIC (total amount payable by the consumer): €279,140.01; average annual life insurance premium of €222.55. Demand deposit account quarterly maintenance fee €16.20 (including Stamp Duty).
Including the impact of optional associated sales (*): APRC of 4.1%; Fixed APR of 3.507% (2-year fixed rate of 2.707% and spread of 0.80%) followed by Variable APR of 3.598% (12-month Euribor of 2.798% as of June 2026 and spread of 0.80%); 24 monthly instalments of €674.15 and 336 monthly instalments of €681.39; MTIC (total amount payable by the consumer): €258,165.83; average annual life insurance premium of €213.46. Monthly Account Maintenance Fee: €8.22 (including Stamp Duty).
For a 30-year €150,000 loan with a total of 360 instalments, 60% LTV with mortgage guarantee.
Initial fees and expenses (including ISUC [stamp duty on credit usage]): Exempt; Fees and Regular expenses: Comprehensive insurance (annual premium €122.63).
Transfers – 5-Year Mixed Rate:
Excluding the impact of optional associated sales: APRC of 4.7%; Fixed APR of 4.220% (5-year fixed rate of 2.720% and spread of 1.50%) followed by Variable APR of 4.298% (12-month Euribor of 2.798% as of June 2026 and spread of 1.50%); 60 monthly instalments of €735.28 and 300 monthly instalments of €741.23; MTIC (total amount payable by the consumer): €278,783.06; average annual life insurance premium of €222.42. Demand deposit account quarterly maintenance fee €16.20 (including Stamp Duty).
Including the impact of optional associated sales (*): APRC of 4.1%; Fixed APR of 3.520% (5-year fixed rate of 2.720% and spread of 0.80%) followed by Variable APR of 3.598% (12-month Euribor of 2.798% as of June 2026 and spread of 0.80%); 60 monthly instalments of €675.24 and 300 monthly instalments of €680.89; MTIC (total amount payable by the consumer): €257,818.70; average annual life insurance premium of €213.32. Monthly Account Maintenance Fee: €8.22 (including Stamp Duty).
Initial fees and expenses (including ISUC [stamp duty on credit usage]): Exempt; Fees and Regular expenses: Comprehensive insurance (annual premium €122.63).
(*) Presupposing subscription to the following products: Direct debit for bill payments; comprehensive home insurance with Mudum; life insurance linked to the mortgage loan with GamaLife and the Package Account.
Fluctuations in the interest rate may lead to an increase in the amount payable.
The interest rate applied may become negative depending on changes to the index.
Subject to commercial approval. This message does not preclude consultation of the legally required pre-contractual and contractual information.
For more information see www.novobanco.pt, contact one of our branches, or the Direct Line.
PUB | NOVO BANCO S.A. | Registered no. 7 at Banco de Portugal