Understanding which insurances are required for your Mortgage is crucial for both approval and peace of mind.
MANDATORY INSURANCE
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.
OPTIONAL BUT RECOMMENDED
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.
SUBLIME MORTGAGE |
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A Sublime Mortgage is a specialist advisory service offering a boutique, personalised approach. We provide expert, discreet guidance and work closely with leading Portuguese banks to secure competitive mortgage solutions tailored to your needs. We would be pleased to discuss your requirements. Contact us at +351 917 773 279 Email: info@sublimemortgage.com |
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