Portuguese Mortgage Calculator

Portugal is one of Europe's most exclusive holiday, retirement and leisure destinations. With an Interest Only mortgage, at the end of the lending term, the borrower still owes the same sum as was initially borrowed and so homeowners are strongly advised to make adequate provision to ensure they will be able to repay the outstanding balance at the end of the loan term.

In fact, with Mortgages4all, it has never been easier to obtain mortgage funding for Portugal. Portuguese mortgage lenders do not necessarily extend the same offers to all clients, even if they have similar profiles. The average interest rate increased one base point to 1.36% for new residential mortgages.

As mentioned before the rates can be lower than in the UK, for example in France, Spain, Italy and Portugal the rates can start as low as 3.5%. In the less established markets like Bulgaria and other eastern European countries the rates can start Property Management Vila Sol at around 6%, whereas countries like Greece and Cyprus roughly fall half way between the two at 5%. The borrowing criteria are typically tougher than in the UK and you should expect to be able to borrow only around 70-80% of the property's value.

Loan to buy land : this is a special kind of mortgage loan that can be used to buy a land in order to build a house afterwards (you can access it in our Comprar Terreno page - in Portuguese). 1. Virtually unlimited credit card limits, home equity loans, and refinance offers allowed consumers to spend without consequence.

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.

The current levels of residential loans are bolstered by the historically low level of the indexes used in loan contracts - which remain negative - but also by diminishing spreads charged by banks, which are aggressively increasing liquidity in the economy.

Simon Conn is an Introducer Appointed Representative of Cherry Mortgage & Finance Limited which is authorised and regulated by the Financial Conduct Authority under number 730706 in respect of UK mortgage, insurance and consumer credit related activities only.

Portuguese banks are still offering loans but the spread" (which is what the bank charges its customers over and above the rate at which they lend to each other) has become very high and the credit checks and lending criteria have changed as well. Lending criteria - this usually depends on your financial position which is determined by your current income earnings, debts and employment history.

Now, however, sellers are having to agree prices which are in line with bank valuations, rather than market demand, meaning that, according to local listing site Meravista, which has 24,000 properties available, Portuguese property is now up to 32% cheaper than the UK.