International Mortgage
In this tough financial climate we continue to find ourselves, many are left with their assets floundering in the wind, so to speak! Enter your email below to receive first-hand our latest properties for sale, exclusive new launches, property news as well as useful information on investing and moving to Portugal. They sometimes try to stimulate the economy by keeping interest rates very low and by buying up bonds in the open market.
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.
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.
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.
It is important to establish the price range the purchaser can afford and most banks will offer to work out a simulation (Simulação) based on the price range required and average monthly income. Commercial mortgages, including mortgages taken out by companies, are for those who seek to buy property for commercial purposes and might include investment mortgage.
Valuation report - if the valuation is no lower than the agreed purchase price and the property has no legal issues, the completion arrangements can be made. So a rise in inflation and interest rates will put more pressure on borrowers using tracker mortgages and make it less desirable for investors to borrow if strict lending policies are maintained.
For example, the change in the definition of eminent domain from taking personal property - for public use - to the new definition - for public good - has already resulted in private and commercial property being taken at distressed market values and given to other individuals that promised a higher tax base to the governing authority based on their position that the additional tax revenue was for the public good.
Persons who are not residents of Portugal need to pay taxes only on income earned at that country, for instance, interest paid on deposits or savings in Portuguese banks. Currency exchange portugal (Www.google.co.uk) A couple of banks in France say they'll do mortgages for nonresidents, but the requirements are so strict that precious few non-France residents would qualify.
If you require financing for a property purchase in Portugal or if you're interested in comparing your current loan conditions, speak to us as we offer a free and independent finance solution service that is determined to find you the best mortgage conditions on the market.
