Residential Mortgage Loan Solutions

Mortgage interest rates in the Eurozone are on the rise, putting Britons who have borrowed to buy holiday homes in Spain under increasing financial pressure. Most mortgage lenders will not allow the sum of any existing debts and your new mortgage payments to exceed 35% of your monthly income after tax. However, for people planning on residing in Portugal, mortgages of 80% or even 90% of the purchase price could be available.

Bulgaria can in many ways be compared to Mediterranean destinations such as Spain, Greece and Portugal, yet it is still in the early phases of development and its property prices are therefore still only about a quarter of what you would expect to pay in a country like Spain.

Of course, the banks are to blame as well; it's not as if they were stupid and didn't know what was going on. But they had their shareholders to answer to and everyone was making record profits, so they were chasing those profits, and as long as interest rates were low, and home prices were rising, then everything was copacetic.

Equity release mortgages are offered to clients that already own a property in Portugal and wish to release some funds from the property. As per the date of this article, variable mortgage rates in Portugal start at 3.3% per year based on a 30% loan-to-value.

Quinta Finance mortgage advisors are UK qualified and through their well established relationships with all the major Portuguese lenders they are able to assist you in sourcing the best available mortgage offer and help you navigate your way through the mortgage process.

A viable option to take into consideration when buying a property in the Algarve is a Portuguese mortgage. Portugal Bank Lending Rate - values, historical data and charts - was last updated on July of 2020. Fixed rate mortgages are available from some lenders and the fixed rate period can range from one to 30 years.

We work with many Portuguese banks to offer you the best customer service both at home and abroad to keep your financial monitoring as simple as possible. is an information website expat mortgage in Portugal - how you can help - - all of our content is written by qualified advisors from the front line, for the sole purpose of offering great, relevant, and up to date information on all things mortgages.

Portugal: This product is offered to Portuguese residents only. Residents add rental income to other income sources and calculate the income taxes at the standard rates. The mortgage is secured on the property in Portugal. So, if you intend to let the property the interest rates are the same, however, there's a chance that the LTV offered could be lower (60 per cent).

If the valuation is at least the agreed purchase price and there are no legal issues relating to the property, the date and details regarding completion of the property purchase will be confirmed. The European Central Bank (ECB) set the rate of the Euro mortgages to a value that is at present lesser than the Bank of England base rate.

As a general rule, most mortgage lenders charge between €150 to 0.50 per cent of the loan amount plus IVA (the equivalent of VAT in Portugal) for the arrangement fee. Another benefit is that should you decide to let your property in short- or long-term contracts, your rental income in euros may offset or cover the mortgage payments in euros from your Portuguese bank, which naturally hedge any currency risk.