Mortgages and Property

Portugal

Portuguese Mortgages for purchasing a property in Portugal - rates from approx 4.15% in Euros

Includes Portuguese Residential Property

If you are considering purchasing a property in Portugal, Portuguese Mortgages are available for the majority of Nationalities for either House Purchase or re-financing for other purposes including Home Improvements.

Types of Portuguese Mortgage: Repayment or Interest only

Minimum: £ 20,000, No Maximum, but must not exceed 80% of the valuation of the property

Proof of Income: required in the majority of cases (can be made up of Earned Income, Pension, Investment or Rental Income. Please note however, it is not always the case that the Lender will take all or part of these Incomes into account when determining the maximum loan available). Non-Status mortgages are currently not available, but minimum documentation lending schemes for Self-Employed applicants, may now be considered on a case-by-case basis. .

Term: 5 to 30 years possibly up to age 80

Currency: Euros and all other Major Currencies

Current Variable Interest Rate: from approx 1.50% above LIBOR on a Variable Rate basis in Sterling or from approx 0.70% above EURIBOR in Euros

Example Portuguese Mortgage in Euros: Repayment mortgage of approx €100,000 over a period of 25 years at an interest rate of approx. 4.15% = approx €542.00 capital and interest per month = a total approximate amount payable over the term of €165,480 including capital, interest, arrangement and survey fees.

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