PortugalProperty.com is a company that is also dedicated to finding our clients the best possible mortgage options that are currently available from the whole of the Portuguese marketplace.
Our relationships with the banks provides us with extensive knowledge of how the mortgage lending process works here in Portugal.
We can help identify which bank(s) can potentially offer the best products to suit your individual requirements. Once a product has been agreed (by both parties) the application process will quickly follow.
Mortgage process
Meet a mortgage advisor on your visit
Discuss you requirements and options available
Send the required documents
Mortgage approval
Property valuation
Final approval
Signing title deeds
Qualification process
The qualification process can vary from bank to bank but in general this is dependant on your ability to repay the mortgage. Taken into account is your current income and outstanding loans or debts at home. The guide line figure commonly used is 35% of your monthly net salary should be able to cover your intended monthly mortgage in Portugal along with your monthly mortgage and any debts at home.
Please note all banks are different so all details about your personal situation should be declared to ensure the correct bank is matched to your requirements.
Mortgage options
Up to 70% of property valuation
Maximum term: 30 years
Maximum age on completion: 80 years
Maximum interest only period: 25 years
Interest rates from: 3 month Euribor +0.75%
Mortgage process:6-8 weeks
Costs
Bank application fee: €750
Valuation fee: €200
Mortgage registration fee: €500
Mortgage stamp duty: 0.6%
Supporting Documentation Required For Your Mortgage Application
PROOF
Employed
Self Employed
Retired
Passport Copy
√
√
√
Fiscal Number
√
√
√
Last Years P60
√
√
Last 3 Months Pay Slips
√
√
Emplyer Letter On Headed Paper Confirming Your Position As Permanent
√
Last 3 Months Personal Bank Statements
√
√
√
Proof Of Any Savings Or Investment Accounts
√
√
√
Last Years Full Tax Returns
√
Last Years Profit & Loss Accountants
√
Last 3 Months Business Bank Statements
√
Recent Utility Bill
√
√
√
Recent Mortgage Statement
√
√
√
Bank Reference Letter Confirming Your Accounts Are Held Satisfactorily
