Financing Simulators
HVR's financing simulators help you see what a loan costs before you talk to the bank. The mortgage simulator works out the monthly payment with Euribor plus spread or a fixed rate, the APR (TAEG) including insurance and fees, and the full amortisation table. Business loan, leasing, APR comparison and compound interest simulators are in preparation.
Available simulators
- Mortgage Simulator 2026 — monthly payment at variable, fixed or mixed rate, insurance, arrangement fee, APR, total interest and amortisation table. You can compare scenarios side by side.
- Business loan (in preparation) — the total cost of company financing, with fees and charges.
- Leasing and renting (in preparation) — financial leasing compared with renting and buying outright.
- APR comparison (in preparation) — up to three credit offers side by side.
- Compound interest (in preparation) — how capital grows with monthly contributions.
Concepts the simulator uses
The TAN is the contract's nominal interest rate. On a variable rate it is the index, usually 3, 6 or 12-month Euribor, plus the bank's spread, and the payment is reset at each index period. The TAEG (APR) adds fees, required insurance and other charges to the interest, which makes it the right figure for comparing offers from different banks.
Fixed, variable or mixed rate
A variable rate follows Euribor, so the payment can go up or down at each reset. A fixed rate keeps the payment stable for the fixed period, usually at a higher starting rate. A mixed rate is fixed for an initial number of years and then turns variable. The simulator lets you test all three with the same amount and term.
Banco de Portugal limits on mortgage lending
For loans whose creditworthiness assessment takes place from 1 August 2026, Banco de Portugal's Macroprudential Recommendation no. 1/2026 recommends that banks do not grant:
- loans for a permanent own home above 90% of the lower of the price and the valuation, or above 80% for other purposes (LTV, Article 5);
- loans that take the payments on all the borrower's debts above 45% of net monthly income (DSTI), with room for up to 10% of the credit granted each half-year (Article 6);
- terms longer than 40 years for borrowers aged 35 or under, or 35 years for older borrowers (Article 7).
Simulator results are indicative and are not credit offers. For company financing decisions, ask HVR about the external CFO service.
Frequently asked questions
What is Euribor and how does it affect the payment?
Euribor is the rate at which euro area banks lend to each other, published daily for several terms. On a variable-rate loan, the payment is reset on the dates set in the contract, based on Euribor at that time plus the bank's spread.
What is the difference between TAN and TAEG?
TAN covers interest only. TAEG (the APR) also includes fees, mandatory insurance and other charges, and is the right measure for comparing offers from different banks (Decree-Law 74-A/2017, for mortgages).
How much can I borrow to buy a home?
Since 1 August 2026 the Banco de Portugal recommends lending at most 90% of the property value for a permanent own home and a monthly payment of up to 45% of net income (Macroprudential Recommendation 1/2026).
What is the difference between leasing and renting?
With a finance lease there is a purchase option at the end and the asset is recorded on the company's balance sheet. With renting there is no purchase option and the rents are an expense of the period. For passenger cars, both are subject to autonomous taxation (article 88 of the Corporate Tax Code).