European Standardised Information Sheet (FINE)

What Is It?

The FINE (Ficha de Informação Normalizada Europeia) is a legally required document, standardised across the European Union, that sets out all the conditions of a mortgage loan (crédito habitação).

Its purpose is to allow borrowers to compare mortgage offers from different banks in a clear and transparent way.

First FINE — Initial Information Sheet

What it is:
The preliminary mortgage proposal based on your initial financial simulation.

When you receive it:
Shortly after requesting a mortgage simulation from a bank or online platform.

What it’s for:
Provides a realistic estimate of borrowing costs — including Spread, TAEG, MTIC, and expected monthly payments.

At this stage, the proposal is not binding, and the property valuation has not yet been considered.

Second FINE — Final Contractual Offer

What it is:
The bank’s definitive mortgage offer.

When you receive it:
After final credit approval, once:

• your documentation has been fully analysed, and

• the bank valuation (peritagem bancária) of the property has been completed.

What it’s for:
Contains the exact financial conditions that will appear in the mortgage deed (Escritura).

The bank must keep this offer valid for a minimum period (typically 30 days) so you can decide whether to proceed.

What Should You Check Carefully?

Spread
The bank’s commercial margin added to the reference interest rate.

TAEG (Taxa Anual Efetiva Global)
The real annual cost of the loan, including interest, insurance, and mandatory fees.

MTIC (Montante Total Imputado ao Consumidor)
The total amount payable to the bank over the full loan term (capital + interest + charges).

Bundled Products (Vendas Associadas)
Products you may be required to contract — such as insurance policies or bank cards — to obtain a lower spread.

Cost

Free of charge
Banks are legally required to provide both versions of the FINE at no cost.

However, the second FINE is usually issued only after payment of valuation or file-processing fees.

Key Difference

• 1st FINE: Informative — what the bank may offer.

• 2nd FINE: Binding offer — the bank’s final commitment.

The final FINE must be delivered at least 7 days before the mortgage deed, allowing the borrower a mandatory reflection period before signing.