Diploma puts an end to the processing fee for loan installment commission.

Diploma puts an end to the processing fee for loan installment commission.

New measures related to credits were announced, which can now benefit consumers. In order to facilitate access to housing credit and others, this legislation dictates the end of some commissions: find out which ones.

10 Aug 20234 min

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Check the rules that limit the processing fee for loans at http://example.com/rules.html

Since June 28, a diploma has come into effect that will put an end to the commission on credit repayments concerning all contracts. Now covering all credit contracts, discrimination against consumers who had contracts before January 2021 is eliminated.

In addition, with this diploma, other charges related to home loans are limited since June 28th. So, let's see:

  • Prohibition of charging processing fee on installment;
  • House evaluation portability between banks;
  • Initial commissions will be standardized into one;
  • Reinforcement of the free discharge certificate;
  • Prohibition of imposing the hiring of other products in the renegotiation of credit terms.

But starting on August 27th, other measures in force related to credits in general also come into effect, such as:

  • End of commissions for changing account ownership and for second copies of statements or photocopies;
  • Limit to the amount of commission charged in the process of enabling heirs;
  • Limit the amount of commission for coin deposits.

What changes for the 2020 diploma?

The prohibition of charging processing fees on loan installments had already been imposed in July 2020, but only with effect on contracts signed from January 2021. This discriminated against all customers who had contracts made before that date. Faced with this inequality, Deco Proteste protested against the need to extend this measure to all credit contracts.

Between January 2021 and 2022, without the charge of this commission, credit borrowers saved 26 million euros. On the other hand, clients with credit contracts excluded from this measure had to pay 72.1 million euros for this commission within the same time period.

Finally, in April 2023, the bill ending the processing fee for installments is approved, bringing justice to affected customers.

New measures benefit housing credit.

With this diploma, more measures have been introduced that benefit borrowers contracting mortgage loans. In addition to the above rule, the initial fees for housing loans are now combined into one: the study of the process, opening, and formalization of the loan.

Since June 28, consumers have been paying only one standardized fee to make it easier to compare different credit proposals. Therefore, there will be a fee with a single value and the same designation.

Another advantage that emerged with this law on June 28 is the possibility of portability of the bank evaluation of a property between different banks. That is, when a customer requests various bank proposals, the evaluation commission will be valid for a certain period for any bank. Instead of having to pay the commission several times, at each bank, the consumer incurs the cost only once.

The validity of payment for this evaluation commission may be 6 months, reduced to 3 months if banks justify significant market changes.

After, although since 2020 the deed of dissolution is mandatory free of charge, the freeness of the document has now been reinforced. This is because banks were able to circumvent the ban by imposing costs on the consumer for signature recognition. With this act prohibited, banks are now required to provide the document proving the total settlement of a credit without cost to the customer.

Finally, the imposition of hiring financial products or services by banks to customers will also come to an end during the renegotiation of credit conditions.

If you have doubts regarding mortgage credit, consult a credit intermediary, such as those from Poupança no Minuto, to clarify all your questions.

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