Residents Prime Properties Madeira Real Estate.

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. Financing example for a 30 year Fixed Rate Mortgage, for a total amount of €100,000.00, a purchase price of €150,000.00 and a mortgage term of 360 months, corresponding to 360 monthly repayments of €405.60. Loan with fixed Nominal Annual Percentage Rate of 2.700%, in force in April 2020.

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.

With this type of loan, your monthly payment fluctuates depending on the indexer (the index that is normally used in housing loans is EURIBOR ). Over the repayment period, the monthly payments are usually revised every six months based on Euribor rates.

Mortgage rates in Portugal have been dropping consistently since the first quarter of 2014, when they averaged 3.37%, according to Statista The most recent data, based on the third quarter of 2018, shows an average Portuguese mortgage rate of just 1.33%.

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.

Our dedicated Currency Partners are equipped with the best information to find you the best exchange rate for your funds and can even offer a 'forward contract' which fixes the exchange rate for your purchase for up to 12 months to ensure you are protecting your funds as you enter the purchase process.

Financing example for a Mixed Rate Mortgage (25 year Fixed Rate) for a total amount of €100,000.00, a purchase price of €150.000.00 and a mortgage term of 360 months, corresponding to 300 monthly repayments of €395.12 and 60 monthly repayments of €270,99.

Once you've selected your dream Portuguese property and have either an accepted offer or have a sales contract in place with the seller, you can bring the remaining documents to your mortgage lender and follow an application process that is similar to much of Europe.

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.

You may be interested to know that many of the world's leading banking institutions have offshore and international arms and that because of their global presence the likes of HSBC and HBOS for example all offer international mortgages and specific mortgages and home finance solutions in various countries.

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 Selling a property in Portugal 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.

Interest rates are usually variable, based on Euribor plus a percentage (12-month Euribor is currently -0.16%), but up to 20 year fixed rates are available. Their team of specialists is based in the Algarve and has a combined experience of over 30 years in the financing and mortgage markets in Switzerland, UK and Portugal.