Legal principles and good practices

Access to the activity of credit intermediary requires authorisation and registration with Banco de Portugal.

Our company is duly authorised by Banco de Portugal under registration number 0007178, all the information available here.

It is of great importance to comply with Decree-Law No.: 81-C/2017 , which regulates this activity.  Here are some of the most important points, which should be prioritized and valued by all players in the sector.

Transparent, correct information and documentation duty: Mortgage Brokers should in particular take steps to prevent the issuance of illegal, inaccurate, incomplete or unintelligible statements by consumers; have an obligation to provide transparent, correct and complete information to customers and lending banks and have an obligation to keep clear and accurate records of all transactions and communications with customers (this includes the recording of relevant information, such as the customer's financial data, recommended credit products, income statements and all written or electronic communications);

• Duty of impartial and appropriate advice: helping customers understand the financial implications of credit, assessing different options and choosing the most appropriate one for their needs;

• Ability to pay analysis: Mortgage Brokers must carefully analyze the financial capacity of customers to pay the loans contracted;

• Protection of personal data: Housing Mortgage Brokers are subject to personal data protection laws and have the responsibility to ensure the security and confidentiality of customers' personal information;  

• Competence: Mortgage Brokers must have a good level of knowledge and competence in the sector. This includes understanding the different financing options, tax implications, regulatory changes, and other relevant aspects.

• Professional Integrity and Ethics: Mortgage Brokers must act with honesty, integrity and professional ethics in all interactions with customers and lending banks;

• Remuneration received only from lenders: Linked Mortgage Brokers are only remunerated by lenders and cannot receive any amounts from consumers, namely as remuneration, commission or expense;

• Complaint Resolution: Mortgage Brokers should have a clear procedure for handling customer complaints fairly and efficiently. They must respond promptly to complaints, investigate them appropriately, and seek satisfactory solutions.

Source: Anica - National Association of Authorized Credit Intermediaries