Residential Mortgage Loan Solutions

Bank Lending Rate in Portugal decreased to 1.63 percent in May from 2.31 percent in April of 2020. Although things can often change quite dramatically over the period of a mortgage, it is worthwhile noting that Interests rates on the European Continent are typically lower than in the UK. The problem is that the low interest rates are starting to attract a lot of buy-to-let investors, who are finding that the UK market has begun to mature.

Stamp Duty is charged at a fixed rate of 0,8%, whereas Purchase Transfer Tax for villas and apartments is charged according to a sliding scale that is altered each year, varying between 1% and 8% (e.g. 6% over €550.836 for non-permanent habitation) of the declared value of the sale.

A mortgage broker will get you the cheapest possible deal, with the right features for you, which has the closest match to your personal finance circumstances, chosen from Property in the Algarve [https://Google.co.uk/maps/place/Ideal+Homes+International/@37.084025,-8.084615,15z/data=!4m2!3m1!1s0x0:0xd3a27d867322db59?sa=X&ved=2ahUKEwit5uy7j7HqAhXZ8uAKHUCDAiMQ_BIwCnoECBIQCA] their panel of banks and lenders. In fact, many of Portugal's first non-resident schemes were designed in consultation with the company's Managing Director and the Banks.

Primary residence mortgages are for those who will live in their property in Portugal as their main residence and pay their income tax here. If you're looking to buy property in Portugal, find out how much you can borrow, mortgage options for expats, mortgage calculators and costs of getting a mortgage in Portugal.

Caixa Imobiliário is a company from CGD Group operating in real estate's marketing, has a wide portfolio of properties whether for sale or lease, with competitive prices and financial conditions. The proportion of housing loans overdue for more than 30 days, as defined by the rules of the Bank of Portugal, decreased to 5.0%-5.5% in 2017, compared with the average of 6.5% in 2014- 2016.

Once you've found a property in the Algarve to buy then the mortgage approval process can be completed fairly quickly. There's no such thing as a ‘buy-to-let mortgage' in Portugal, banks do not differentiate their offering. Fiscal residents in Portugal (i.e., those who pay tax there) may be able to borrow up to 85-90% of the sale price in some cases.

Cold and bleak translates into: GDP steady or falling (recession); high interest rates on public and private debt; inflation rising; shortage of credit for businesses and private mortgages; tax rates going up; rising unemployment; stock market prices falling ('bear' market).

We work with many Portuguese banks to offer you the best customer service both at home and abroad to keep your financial monitoring as simple as possible. is an information website - all of our content is written by qualified advisors from the front line, for the sole purpose of offering great, relevant, and up to date information on all things mortgages.

Such rates may increase if you require more credit, say 60% or 70% loan to value. Mortgage loans are, in fact, the main engine of the recovery of the credit levels in Portugal. Banks in Portugal will lend to nonresidents for up to 30 years (or until age 75) and offer up to 80% LTV in some cases.

In the case of the three month Euribor rate, your mortgage repayments will be fixed for three months at the prevailing rate at the day you sign the mortgage deed, thereafter, every three months later the bank will apply the average rate of the three month Euribor rate to your mortgage from the previous month.