Three World Financial Crises
Just about all of the Portuguese banks will lend to non-residents of Portugal now what differs is the products they provide. Our mortgage terms for buying in Portugal and Europe are second to none, so Whether you're looking to find a mortgage for your dream Algarve villa or even change mortgage on your Lisbon apartment, all you need to do is fill in a simple online mortgage application and we'll forward it to the best mortgage providers in Portugal.
Na sua qualidade de intermediário de crédito vinculado, ComparaJá mantém contrato de vinculação sem regime de exclusividade com as seguintes entidades: Banco Santander Totta, S.A., Banco BIC Português S.A., Banco Comercial Português S.A., Bankinter, S.A. - Sucursal em Portugal, Banco CTT, S.A., Caixa Geral de Depósitos S.A., Banco BPI S.A., Novo Banco S.A., Union de Créditos Inmobiliários, S.A., Establecimiento Financiero de Crédito (Sociedad Unipersonal) - Sucursal em Portugal, Abanca Corporación Bancária, S.A, Sucursal em Portugal, BNI - Banco de Negócios Internacional (Europa), S.A., Cofidis, Montepio Crédito - Instituição Financeira de Crédito S.A., Unicre - Instituição Financeira de Crédito, S.A., Bankinter Consumer Finance, EFC, S.A.
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.
Mortgage rates in Portugal have been dropping consistently since the first quarter of 2014, when they averaged 3.37%, according to Statista The most recent data, based on the third quarter of 2018, shows an average Portuguese mortgage rate of just 1.33%.
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 rates on offer, often under 1%, as well as clients from the UK looking to hedge their bets on the exchange rate fluctuations.
It includes the initial expenses with compulsory multi-risk home insurance 174.54€ (average annual value), opening fee €520.00 (taxes included), administrative and contract fees €416,00 (taxes included), property valuation fee €221,00 (taxes included), instalment processing fee €1.77 (taxes included), stamp duty on the agreement €600.00, registration fees €240.00, notary fees €153.75 (taxes included), solicitor services €389.48 (taxes included).
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.
Having as goal the finding of advantageous solutions that make the purchase of a house at a time when access to bank credit is strongly limited, we sign partnerships with the main bank institutions so as to offer excellent business opportunities to all our clients.
Financing example for a Variable Rate Mortgage, for a total amount of €100,000.00, a purchase price of €150,000.00 and a mortgage term of 360 months, corresponding to 360 monthly repayments of €339.63. Loan indexed to Euribor for 6 months (-0.365%), in force in April 2020, plus a spread of 1.750%, resulting in a variable Nominal Annual Percentage Rate of 1.385%, rounded to the thousandth.
According to a report from the Royal Institutional of Chartered Surveyors (RICS) on the outlook for Europe's real estate markets, Portugal is, in fact, one of the economies leading the euro area recovery with sales and prices expected to continue rising at a steady pace over the medium term.
Portugal is in the Eurozone where at the time of writing (April 2016) rates are a little higher than in the UK. However, much like the UK mortgage market there Algarve Property Tax (visit www.google.co.uk here >>) is a wide range of mortgage products available so an accurate rate will depend on your circumstances though you should reckon with interest rates of 3.5-5.25%.
Many banks offer international mortgage services for other countries in which they have operations. They will usually base the amount you can borrow on how much you earn rather than the rental income and also there is not really a market for self-certification mortgages.
