UCI Mortgages

With such a range of mortgage products available, we can help you to choose the best product to suit your individual circumstances whether that be a repayment, variable rate, fixed rate or hybrid mortgage. With this type of loan, your monthly payment fluctuates depending on the indexer (the index that is normally used in housing loans is EURIBOR ). Over the repayment period, the monthly payments are usually revised every six months based on Euribor rates.

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.

The steeper price of land plots and the superior quality of the properties in Portugal has led to the property costs becoming higher than that in Investment Property Algarve Spain. In April 2016 Bankinter closed the purchase of Barclays' retail business in Portugal thus forming Bankinter, SA - Sucursal em Portugal.

Buying property in Portugal is a regulated activity. Today's mortgage market is considerably less favourable to new customers than it was before the banking collapse and fall in interest rates. In many cases this can reduce that extra interest margin quite significantly, with some brokers able to find Portugal mortgage deals as low as the Euribor rate plus 1.00%.

The maximum borrowing amount is up to 70% of the property purchase price (or valuation if lower). If you are looking for a mortgage to finance your property in Portugal, you can request a free brochure from Barclays. This is the most common way to finance the purchase of a property in Portugal.

This is very similar to the UK. A network of Agents through the country will give you a selection of properties to choose from and you can make offers as you would in the UK. Don't forget too that we can put you in touch with a selection of bank repossessed properties available at vastly reduced prices too.

Fundamentally, Euribor is a Euro system interbank lending rate determined by the key interest rate (on main refinancing operations) set by the European Central Bank (ECB). For customers applying from abroad, HSBC offers mortgages in the following countries and regions: UK, US, Canada, France, Australia, HKSAR, Malaysia, Singapore, India and UAE.

Barclays, for instance, lends for Portuguese properties as well as to purchasers of property in France, Spain and Italy. With so many developers offering new and off-plan property, single houses sell far less quickly and those interested in second hand homes are usually bargain hunting at the lower end of the market.

Now, however, sellers are having to agree prices which are in line with bank valuations, rather than market demand, meaning that, according to local listing site Meravista, which has 24,000 properties available, Portuguese property is now up to 32% cheaper than the UK.