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Quinta Finance has established itself as the leading mortgage brokerage service in Portugal that offers professional mortgage advice for non-resident property buyers; our aim is to help you throughout every step of the process until completion. Credit operations granted by credit institutions, credit finance companies, investment companies, leasing companies, factoring companies and mutual guarantee companies, as well as by branches of such credit institutions and financial institutions operating in Portugal.

There was virtually no enforced regulation and these guys were advising their applicants to lie about their incomes, net worth, you name it; anything to circumvent the process to get their client in the home, who in many cases should never have received that loan.

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 Investment Property Algarve 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.

This liquidity support will be available to Portuguese companies in the coming days, and includes a grace period until the end of the year and the possibility of repaying the loan in a term of up to four years. All Portuguese mortgages are full status and proof of income and outgoings will be required.

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.

As a foreigner or non-resident, if you are looking to buy property in Portugal and want to use a mortgage to finance the purchase, now is a good time because the banks are lending again thanks to the economic recovery and the solid real estate market.

If you need to secure a mortgage in order finance a property in Portugal, it would be wise to start arranging your Portuguese mortgage almost before you do anything else. We pride ourselves in offering rare to find adverse credit mortgages in Portugal where debts and poor credit ratings are not always taken into account, these are getting rarer and rarer as time goes on make your enquiry sooner rather than later.

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.

Bank Lending Rate in Portugal averaged 5.32 percent from 2003 until 2020, reaching an all time high of 8.08 percent in October of 2008 and a record low of 1.63 percent in May of 2020. Banks vary the maximum allowed age of borrowers, which can limit the term a given institution will allow.