Mortgages Iberian Properties

Portugal is one of Europe's most exclusive holiday, retirement and leisure destinations. The steeper price of land plots and the superior quality of the properties in Portugal has led to the property costs becoming higher than that in Spain. In April 2016 Bankinter closed the purchase of Barclays' retail business in Portugal thus forming Bankinter, SA - Sucursal em Portugal.

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.

In 2011 over hanging economic pressures will continue to loom over the UK. November 2010 saw inflation rise 3.3%, which is well above the Bank of England's target of 2%. Obviously the Algarve Property Golf (google.co.uk) more this increases the more it affects our standard of living and if it hits 4% which is possible, the government will have to seriously think about increasing interest rates.

The maximum borrowing amount is up to 70% of the property purchase price (or valuation if lower). If you are looking for a mortgage to finance your property in Portugal, you can request a free brochure from Barclays. This is the most common way to finance the purchase of a property in Portugal.

If the valuation is at least the agreed purchase price and there are no legal issues relating to the property, the date and details regarding completion of the property purchase will be confirmed. Other lenders may have more competitive rates but a cap on the level of borrowing whilst others may not offer fixed rate products.

When transferring your money for purchase of a property to Portugal, it is advisable when dealing in foreign currency to use a foreign currency broker, see our Foreign currency page for further details. Becoming a property owner in Vale do Lobo is an exciting process but while this is a time for celebration, we also appreciate that it can also be overwhelming with the various opportunities and details to consider.

But it is clear that all sides have been locked in discussions over a weekend in which Left Bloc coordinator Catarina Martins lay down the challenge that it was high time banks that had received ‘thousands of millions' from the Portuguese economy did something in return.

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.

This is only offered for construction mortgages in Portugal and, where offered, it is only for 1 or 2 years at the start of the term. By taking steps to arrange your mortgage at the start you will have a better idea of how much you can spend on your Spanish or Portuguese property and can work out the likely future financial implications of your purchase.

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.