Mortgage Matters - Portuguese Mortgages Product  

Mortgages in Portugal

Portugal boasts a record of over 300 days of sunshine each year. Throw in some of the best and most photographed beaches in Europe and you have a destination which has to be high on a list of places to buy property.

Despite being one of the smallest and least developed countries in European terms, Portugal has one of the fastest growing economies in the EU and as such, you can still obtain good value for money when purchasing a Portuguese property with the real possibility of an increase in property value.

As with most countries, when you purchase a property abroad, you will have a number of choices as to how to finance the deal. All Portuguese mortgages are full status and proof of income and outgoings will be required. Portuguese mortgages can be arranged for acquisition, renovation and construction and the mortgage is secured on the property in Portugal.

A deposit of 20% of the purchase price is required and you will also be liable for solicitor's fees. Euro mortgages are available, and the minimum loan amount you can borrow depends on the lender you use. Mortgages are generally Repayment loans and can be taken over a 5-25 year term, although some mortgage lenders will be happy to provide Interest Only loans. All mortgages should be fully repaid by the age of 75.

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FOR AN HONEST, PROFESSIONAL & RELIABLE SERVICE

Alison Barker - Qualified Mortgage Broker

Financial Planning Certificate 1.2 +3

CeMap & Advance CeMap (Certificate in Mortgage Advice and Practice)

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