Bom Sucesso

With such a range of mortgage products available, we can help you to choose the best product to suit your individual circumstances whether that be a repayment, variable rate, fixed rate or hybrid mortgage. If you're a tax resident in Portugal you may be eligible for IMI (Council Tax) exemption if your property's rateable value is less than € 236.250. For Portuguese nationals residing overseas it is possible to go up to 85% of the purchase price but they must be in possession of either a Portuguese passport or a Portuguese identity card.

There are no restrictions on non-EU residents buying property in Portugal, and the government does what it can to encourage foreign property investment. Think of it this way - You want a loan, so you go to the bank and they want to know the value of your assets, in order to determine your financial situation at the time you want the loan.

Available up to 60% of the property purchase price with rates from Euribor + 2.1%. In Portugal, they can account for up to 10% of the property price, so you need to ensure you can handle those as well as the Holiday Homes Portugal required deposit out of your cash reserves. For example, global banking giant Santander has a Portuguese operation, offering many of the same accounts and deals that you can get elsewhere in the world.

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.

If interest rates go down to 4.5%, the price might rise to $115. If you're considering buying a UK property, we can offer you support to help you make the right decision about your mortgage. If you're planning on building your own property in Portugal, there's also the option for a construction mortgage.

The Portuguese, particularly at the higher end of the market, have for many years considered the option of purchasing a property through a lease purchase scheme provided by the major banks. The banks charge administration fees, normally up to €1,000 and if it is a company loan, there are additional legal bank fees.

Mortgage lenders in Portugal have generally been averse to following the negative Euribor rate, with interest rates for prime borrowers hovering between 3.25 percent and 5.25 percent, depending on the specifics of the loan, although lower mortgage rates may be offered in certain situations.

A mortgage loan is secured (or backed) by the collateral of specified real estate property. If you are buying a property for commercial use, such as a restaurant or a shop for example, the maximum mortgage is 50% of the price (or valuation if lower). This document shows who owns the property, who has rights to the property and if there are any charges, mortgages or incumbrances registered against the property.

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).