Gatehouse International Portugal. How To Obtain A Mortgage In Portugal.

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. Interest rate - the rate used for home loans in Portugal is Euribor after which the bank applies its margins. Even college graduates just entering the workforce thought nothing of starting out with thousands in credit card debt and an average of $24,000 in student loans.

Stamp Duty is charged at a fixed rate of 0,8%, whereas Purchase Transfer Tax for villas and apartments is charged according to a sliding scale that is altered each year, varying between 1% and 8% (e.g. 6% over €550.836 for non-permanent habitation) of the declared value of the sale.

The rule of thumb is, the more established the market, then the easier it is, so in emerging markets like Greece, Bulgaria, Poland, The Caribbean and Israel, you Currency exchange portugal can get a mortgage - but the rates will be considerably higher (see below), the amount they will lend is less and they also have stricter borrowing terms.

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.

Laid out in its simplest terms, they'll use an outgoings-to-income calculation to figure this out, which means your total monthly income, subtracted the monthly outgoings (including the new mortgage payment). They have access to international lenders who offer funding for home purchase loans and re-mortgage financing.

You should always go through the same process that you would follow if you were buying a property in the UK. Take independent advice from an English-speaking lawyer who is not connected to your seller, estate agent or property developer. In fact, since we can get a loan for 100% of the purchase price, let's get a bigger house than we actually need and count on a huge appreciation.

Cold and bleak translates into: GDP steady or falling (recession); high interest rates on public and private debt; inflation rising; shortage of credit for businesses and private mortgages; tax rates going up; rising unemployment; stock market prices falling ('bear' market).

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 - 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.

Such rates may increase if you require more credit, say 60% or 70% loan to value. Mortgage loans are, in fact, the main engine of the recovery of the credit levels in Portugal. Banks in Portugal will lend to nonresidents for up to 30 years (or until age 75) and offer up to 80% LTV in some cases.

Financing example for a Mixed Rate Mortgage (25 year Fixed Rate) for a total amount of €100,000.00, a purchase price of €150.000.00 and a mortgage term of 360 months, corresponding to 300 monthly repayments of €395.12 and 60 monthly repayments of €270,99.