Banks Agree To Suspend Mortgage Repayments For Up To Six Months

Obtaining a mortgage in Portugal in Euros will probably give you the best interest rate for your mortgage, however it is often easier to raise the money in the UK (or your home country) and then purchase the Portuguese property outright. Then once the property was completed, the bank offered a loan of 450.000€ for a 25 year period. Capital gains tax for non-residents is charged at a flat rate of 28% and is payable at the time of sale. You'll also find that, depending on the lender, there are loans available at both variable and fixed rates.

Some Portuguese banks will allow interest only periods for 3 to 5 years, some offer capital and interest payments only and a smaller number of banks will offer longer periods of interest only payments. Property prices in Portugal have recovered significantly in the last few of years, and in 2017 they finally outstripped the prices seen before the 2008 housing crash.

Through our agreements with major national and international banks we are able to secure loans and mortgages for private individuals and businesses below are some of the current mortgages on offer. Portugal has a sophisticated banking system with plenty of choice in local and international banks.

Finance is available for the purchase of property in Portugal. Caixa offers access to acquisition and financing of housing properties from Partners with competitive price and mortgage conditions. By using ComparaJá.pt you can access a whole range of mortgage offers in the Portuguese market.

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.

Once you've selected your dream Portuguese property and have either an accepted offer or have a sales contract in place with the seller, you can bring the remaining documents to your mortgage lender and follow an application process that is similar to much of Europe.

Buying a property in Portugal may be an attractive investment - as your main residence, as a 2nd residence for vacations, or to rent out as a source of income. In addition to the taxes due upon buying a Portuguese property, buyers may be subject to income tax on rental income or capital gains tax when the property is sold.

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.

The maximum mortgage term available is 30 years and the maximum age for getting a mortgage in Portugal is 80 years. Holiday Homes Portugal are available up to 80% loan to value (LTV) with a few banks, with the majority at 75% LTV. It's sensible to get the mortgage process started as early as possible, even if you've not begun to look at properties.