ESIS (European Standardized Information Sheet)
This is a document that banks are required to provide to customers. Experts explain what it is and why it is so important.
The European Standardized Information Sheet (ESIS) is a pre-contractual document of an informative nature that specifies the financial conditions and expenses charged to the customer for banking or financial products, namely mortgage loans or other loans secured by a mortgage.
The presentation of the ESIS is mandatory in all mortgage simulations, with information organized in the same way by all financial institutions, as explained by idealista/créditohabitação.
ESISs present the financial conditions of the mortgage, namely the characteristics of the loan, fees applied, and bonus conditions, if any. This document also contains the loan's financial plans, which show the evolution of the loan during the financing term, the principal and interest portion of each installment, insurance, fees, and other costs.
In the financial plans section, you will find the loan's financial plan and the same plan with the addition of the TAN for the maximum value recorded in the last 20 years. The plan with the addition of TAN is only presented for variable-rate mortgage loans.
In short, “FINE helps you compare the various offers on the market and make an informed decision.”
Source: idealistanews