Houses For Sale In Portugal

Anglo Portuguese Mortgages website is owned by Corporate and Commercial Finance (Anglo Portuguese) Ltd with over 25 years' experience in the Portuguese non-resident lending industry and seen by many as a pioneer in the market place. In Ireland, Greece, Italy, Portugal and Spain, government deficits and government debt are high and the bond market sets high interest rates. The rest of the buying costs are deferred until the Public Deed which allows you more time to address your financial needs.

Depending on circumstances, we may or may not be able to offer you the exact loan amount and interest rate requested. The Financial Services Authority does not regulate loans secured on overseas properties. Once the property and mortgage deeds are signed in front of the Portuguese Notary and all the associated fees and taxes have been paid you become the official new owner of the property.

Persons who are not residents of Portugal need to pay taxes only on income earned at that country, for instance, interest paid on deposits or savings in Portuguese banks. Luxury Algarve Property A couple of banks in France say they'll do mortgages for nonresidents, but the requirements are so strict that precious few non-France residents would qualify.

Despite much economic uncertainty in recent years, not to mention an unstable housing market, all the major Portuguese lenders continue to provide mortgages to suitable individuals, including overseas nationals, purchasing property in Portugal. The amount of housing loans that were granted this year is the highest since the beginning of the financial crisis.

Some banks in Portugal offer a maximum term of 25 years for non-residents and 30 years for residents. You can also arrange a guarantor, which can be beneficial in terms of inheritance tax if they are also a part-owner of the property. There are also some banks that require you to take out life insurance, which can really add on to the costs of a mortgage.

In fact in some cases you can get a better deal from another bank, when buying bank owned properties. The competitive UK mortgage market provides several advantageous deals on sterling loans. However, many banks don't lend for international properties or restrict their lending to particular types of property or locations.

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.

However, buying a property in Portugal with a mortgage instead of using your savings could be much more financially beneficial if you get a good deal and a good Portuguese mortgage broker can make it as simple and stress free as possible. Some banks require life insurance cover for either the main applicant or both mortgage applicants.

It is the interest rate that banks in the Euro Zone use to lend to each other, and is derived from the base rate set by the ECB. This started in the US with the selling of 'sub-prime mortgages' to less well-off buyers, who were tempted by rising house prices and attractive interest rates (sub-prime means more risky).