Can I transfer my mortgage to another bank?
You can switch your mortgage to another bank. It makes sense when the new offer improves the payment, the total cost or the terms — but compare everything, not just the spread.
In this guide
Switching is your right
You can move your mortgage to another bank, following the procedures in the contract and the law. The switch makes sense when the new offer improves the payment, the total cost or the terms.
Compare beyond the spread
Before deciding, compare not only the spread but the APRC, the total amount payable, the fees, the insurance and any early-repayment or transfer costs. A lower payment isn’t always better overall.
When it really pays off
As a rule, it pays when the spread gap is meaningful and a significant part of the loan is still outstanding. We run the numbers before any formal request.
Worked example
With €150,000 outstanding and 25 years left (example figures): cutting the spread from 1.3% to 1.0% saves tens of euros a month. But there are switching costs (discharge, new registration) — the maths only works in your favour if the saving clears them comfortably. That’s what we calculate.
Sources
Susana Vasconcelos
- Intermediária de crédito autorizada pelo Banco de Portugal n.º 0008496
- Mais de 10 anos na banca