Mortgage Solutions
Property sales in Mozambique are somewhat of a mixed bag in terms of the amount of properties being purchased and those who can afford them. At Quinta Finance we have over 15 years of experience to draw upon with all the banks that operate in Portugal and by being physically based in Portugal we are in regular contact with the decision makers in Lisbon to make sure that we have the best products available for you.
Allows peace of mind that your loan will be fully repaid at the end of your chosen term, equal repayments throughout life of the loan (subject to Base Rate changes), maximum Term 25 years, loan to be repaid by the age of 75, and ability to make overpayments.
Another large international bank is Barclays, they are based in the UK but if you want to get a mortgage to buy a holiday home in France, an investment property in Italy, a retirement home in Spain or even a golf retreat in Portugal they are one of the best lenders to speak to. If you aren't based in the UK or even France, Spain, Portugal or Italy it doesn't matter as the majority of your research and application process can be done online with most international mortgage lenders, there is then just a requirement to prove earnings, status and identity which can often be done with the certification of various documentation.
In 2011 over hanging economic pressures will continue to loom over the UK. November 2010 saw inflation rise 3.3%, which is well above the Bank of England's target of 2%. Obviously the more this increases the more it affects our standard of living and if it hits 4% which is possible, the government will have to seriously think about increasing interest rates.
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.
Don't forget that Portugal has a tax called IMT which is similar to the Stamp Duty Tax in the UK. Add approximately 7% to 8% to the purchase price to give you an indication of what you might expect to pay IN TOTAL, including legal fees, transfer fees and taxes.
Corporate and Commercial Finance (Anglo Portuguese) Ltd., can arrange mortgages on completed properties, properties under construction, properties being sold off plan, properties requiring stage payments during construction on selected developments, properties already owned.
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.
The way the government should have tackled this by suspending everything by having a total lockdown curfew, and ban all payments of mortgages, rents, hire purchase and leases, credit cards and bank loans, taxes,direct debits, gas and electricity etc, so that nobody has to payout anything, all the government then has to do is make sure everyone has money for food and drink which is all they need money for while everything is suspended.
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.
If you do not borrow the money in Euros, you may need to pay up to 5% to 10% in bank and conversion fees before you can use it for purchasing Villas For Sale In The Algarve a property in Portugal Currency fluctuations can work for or against you - the cost of converting currency will always be against you.
As a direct result of all of these cumulative issues, even captive lenders are balking on maintaining floor plan credit lines or real estate mortgages. The interest rate margin (spread) will be confirmed on the day the mortgage is approved and will be fixed for the term of the loan.
