Mortgages

Since interest rates are low, financing the purchase of a property through a national bank loan could be an interesting option, especially because since 2010, Portuguese banks have not been lending as much as they are now. Remortgaging the UK properties is an attractive option available to consumers in need of finances for making a purchase at Portugal. Fixed rates are usually higher than variable rates. The minimum qualifying age for Home Reversions are therefore higher than for Lifetime Mortgages.

Depending on circumstances, we may or may not be able to offer you the exact loan amount and interest rate requested. The Financial Services Authority does not regulate loans secured on overseas properties. Once the property and mortgage deeds are signed in front of the Portuguese Notary and all the associated fees and taxes have been paid you become the official new owner of the property.

In addition, the company is extremely experienced in arranging loans on Touristic property. Mortgages for acquisition purposes are offered by all the major Portuguese lenders to private individuals purchasing Vila sol villas for sale (no title) a property with a habitation license. To make things worse, the US taxpayers' exposure to the market is growing, not reducing; last year they bought or guaranteed three-quarters of all U.S. home loans.

Banco Comercial Portugues operates as a universal bank, providing a broad range of retail, private, corporate and investment banking products and services. Most mortgages in Portugal run for 25 years, but you can get terms up to 30 years. Offer loan comparison services to people in the UK helping them find the cheapest loans available to them based on their own personal circumstances.

Receive informed analyses and property offers from the world's residential markets directly to your inbox. A fixed-rate mortgage allows you to budget for future mortgage payments as the monthly cost will remain constant throughout the fixed rate period and you are protected from future increases of the European base rate.

Firstly the Euribor (Euro Interbank Offered Rate) is historically lower than the LIBOR (London interbank offered rate) which means the cost of borrowing for a mortgage in Portugal is normally less than the cost applicable to an equivalent UK mortgage.

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.

Rates now start at 3.3 per cent for a variable rate of up to 30 per cent loan to value, 3.4 per cent for a variable rate of up to 60 per cent loan to value, and 4.1 per cent for a five-year fixed rate of up to 80 per cent loan to value. The mortgage loans terms vary from 1 to 50 years.

Laid out in its simplest terms, they'll use an outgoings-to-income calculation to figure this out, which means your total monthly income, subtracted the monthly outgoings (including the new mortgage payment). They have access to international lenders who offer funding for home purchase loans and re-mortgage financing.