Here’s a clear overview for property purchases in Portugal.
Buildings Insurance
Protects your property against fire, flood, storm damage, and subsidence.
Seismic coverage: Required by most Lenders, though exceptions exist depending on the bank and location.
Must be in place by the completion date.
Life Insurance (Mortgage Protection)
Required by some Lenders, especially for higher Loan-to-Value (LTV) ratios.
Ensures the Mortgage is repaid in the event of death, providing peace of mind for both borrower and Lender.
Contents Insurance
Required by some Lenders, especially for higher Loan-to-Value (LTV) ratios.
Ensures the Mortgage is repaid in the event of death, providing peace of mind for both borrower and Lender.
SUBLIME MORTGAGE: FLEXIBLE INSURANCE, BETTER OPTIONS
One of the key advantages of securing a favourable Mortgage arrangement is the opportunity to take out your insurance policies independently from the Bank.
This allows you to choose from a wider range of insurance providers, often resulting in more comprehensive coverage and more competitive monthly or annual premiums.
All without compromising the terms of your Loan!
WHY REVIEW YOUR COVER?
Your circumstances and property value may change over time.
Regular reviews ensure compliance with your Lender and provide adequate protection for your home and family.
TAKE ACTION TODAY
Speak to your Sublime Mortgage adviser to discuss specific Lender requirements.
