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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.

A mortgage loan is secured (or backed) by the collateral of specified real estate property. If you are buying a property for commercial use, such as a restaurant or a shop for example, the maximum mortgage is 50% of the price (or valuation if lower). This document shows who owns the property, who has rights to the property and if there are any charges, mortgages or incumbrances registered against the property.

For the last few years there's been a noticeable increase in the level of client's looking at local financing, mostly due to the excellent Portugal Holiday Home Mortgage rates on offer, often under 1%, as well as clients from the UK looking to hedge their bets on the exchange rate fluctuations.

Loan to buy land : this is a special kind of mortgage loan that can be used to buy a land in order to build a house afterwards (you can access it in our Comprar Terreno page - in Portuguese). 1. Virtually unlimited credit card limits, home equity loans, and refinance offers allowed consumers to spend without consequence.

The interest rates of a Portuguese variable rate mortgage is linked to either the three- or six-month Eurropean Central Bank (Euribor), rate and increased by the margin (profit) that the bank applies. In Portugal, the bank lending rate is the average rate of interest charged on loans by commercial banks to private individuals and companies.

Those who owed banks money on the repayment of credit and had suffered a 20% loss in their income were given legal notice by banks to postpone their rental payments and the loans that they owed to the banks. Many people purchasing property in Portugal will look to finance their purchases partly with a Portuguese mortgage.

You can get a reasonably competitive mortgage in the US and most of the established European overseas property markets like Portugal, Spain, France, Switzerland and Italy. ItвЂs possible to secure mortgages up to 80% of the property purchase price (when you are a Portuguese taxpayer) with rates from Euribor + 1.5% or fixed rates from 2.25%.

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.

Our solution: a mortgage of 375.000 € on the property plus a Lombard loan of 100.000 € on their pension pot. In Portugal the vast majority of mortgages are variable rate, however, fixed rates are becoming more popular. Choose from a range of UK mortgages with the on-going support of our mortgage advisers, who'll support you through the process of buying a property.