Portuguese Mortgages are available with either  Repayment or Interest Only for the majority of Nationalities. The mortgage can be used for Purchase or re-financing.

Minimum: €50,000, No Maximum, but must not exceed 75% of the valuation of the property

Proof of Income can be made up of Earned Income, Pension, Investment or Rental Income. Please note however, it is not always the case that the Lender will take all or part of these Incomes into account when determining the maximum loan available.

Term: 5 to 25-30 years up to age of 75-80 depending on Life Insurance.

For completion of the mortgage you will need to have already acquired the ‘copia simple’. plans of the property, plan of the site, fiscal numbers. These will all be needed before a valuation can be instructed. These documents should be available through your solicitor.

We advise that you check with the real estate agent and your solicitor to find out any costs and charges incurred either from themselves or the Government.

You should always take independent legal advice before signing the sales contract or parting with any funds. With supporting documentation lenders will want to see proof of your deposit.

We do advise that you should arrange you’re Portuguese mortgage before agreeing to purchase a property in Portugal. This mortgage may be required to have life assurance policy assigned to the lender. A Portuguese Bank Account will also be necessary to be granted the mortgage.

Please note that the following approximate charges are standard in Portugal and are made by the lender.

Application Fee:             €211.75

Valuation Fee:               €211.75

Signing Of Deeds:          €363   

Please click here to enquire regarding Portuguese Mortgages.

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