Begin by scheduling a meeting with us, whether online, by phone, or in person. This will be an opportunity for us to get to know each other better and discuss your specific needs and how we can assist you in acquiring the ideal mortgage credit in Portugal.
Though the Portuguese mortgage landscape might appear intimidating initially, it is less complicated than it appears. In Portugal, there are a few key factors that determine your eligibility for a mortgage. Are you earning a consistent income or receiving a regular pension? Is your credit score looking healthy? Are you over the bank's set age limit?
Choosing the right mortgage lender is an essential step when securing a mortgage for property investment in Portugal. A good lender will offer competitive rates and favorable terms, making your mortgage journey much smoother. Among the recommended financial institutions for non-residents looking to invest in property in Portugal are Novobanco, Caixa Geral de Depósitos (CGD), and Millennium BCP.
While the idea of variable-rate mortgages might appear complicated, understanding the basics makes it far less daunting. A variable-rate mortgage in Portugal is characterized by fluctuating monthly payments determined by the base rates of the European Union.
Independent mortgage brokers can serve as valuable guides in the Portuguese mortgage market. They provide support and guidance throughout the mortgage application process, assisting property investors in navigating the market and securing the most favorable deals.
Preparing your financial profile is a vital step before applying for a mortgage. A robust employment history holds significant importance when applying for a mortgage in Portugal. A proven track record of at least one year of professional experience with a specific company, or two years if self-employed, can certainly enhance your financial profile.
When acquiring a mortgage in Portugal, you can expect to encounter mortgage-related fees, including the property tax, Imposto Municipal sobre Transmissôes Onerosas de Imóveis (IMT), which is levied when obtaining a mortgage in Portugal.
Portuguese banks and mortgage providers offer online mortgage calculators as a useful tool for estimating monthly mortgage repayments during the mortgage process. These calculators take into account various factors, including:
