Portuguese Mortgage Specialist
Quinta Finance has established itself as the leading mortgage brokerage service in Portugal that offers professional mortgage advice for non-resident property buyers; our aim is to help you throughout every step of the process until completion. In each country the local lenders are increasingly catering for UK buyers and some UK based banks will also offer mortgages on overseas property. With the property market heading for the house, the households' bank rating for home loans rose in July for the fourth consecutive month to EUR 1,117 per square meter plus EUR 5 compared to the previous month.
In addition to Italy, new mortgage loans on the periphery of the eurozone will record double-digit increases. Never forget these Portuguese Banks lending to the Portuguese sovereign nation when buying their own Government debt. Tracker rate mortgages are linked to the Bank of England base rate.
That's part of the reason why we're regularly rated as five stars on Feefo, and why Portugal mortgages are a popular topic with our customers. These types of Portuguese mortgage are not offered by the banks to High St customers and are only available to professional mortgage brokers in Portugal.
Iberian Properties, Spanish property experts have been working in the real estate and financial industries in Spain for over 20 years. Of course the plus side is that at times the interest rate may be lower than on a fixed rate mortgage. Purchase of a property in Portugal by non-resident citizens for use as a main residence and second home.
It allows mortgage-backed securities to be treated as the underlying loans, if the competent authorities consider that they are equivalent in the light of the credit risk. Knight Frank, the property consultancy, reports a Portuguese property price rise of 1% from the third quarter of 2014 to the third quarter of 2015, and experts are forecasting 2% gains for the average property over the next year.
Mortgage advisors who know and understand the Portuguese mortgage market can often negotiate better deals and products compared to going straight to the high street banks. Caixa Central - Caixa Central de Crédito Agrícola Mútuo, CRL was founded in 1984 to become the financial head of Crédito Agrícola Group, a Portuguese cooperative banking group.
The rule of thumb is, the more established the market, then the easier it is, so in emerging markets like Greece, Bulgaria, Poland, The Caribbean and Israel, you can get a mortgage - but the rates will be considerably higher (see below), the amount they will lend is less and they also have stricter borrowing terms.
The fall of rent in some areas could be reflecting an excess of rental stock on the market but there is also evidence of a mismatch between the type of property offered, and that in demand. The Bank will usually consider lending up to 65% of the valuation of the property, or purchase price whichever is lower, with a minimum loan of GBP 100,000 or the Euro equivalent thereof.
Quinta Finance mortgage advisors are UK qualified and through their well established relationships with all the major Portuguese lenders Portugal Holiday Home Mortgage they are able to assist you in sourcing the best available mortgage offer and help you navigate your way through the mortgage process.
Portuguese banks have strict affordability criteria which means that, including the mortgage you are applying for, the total of all debt service payments you have to make (inculding your UK mortgage and any other personal loans you have in the UK or elsewhere) cannot be more than 35% of your net income.
Portuguese mortgages are also subject to strict affordability criteria. This allows for clients to opt for a 1- 15 year fixed rate product which then reverts to variable rates repayments thereafter. You may also find that certain types of property aren't easy to find mortgages for.
