Mortgages in Portugal

100 Percent Mortgage

In certain circumstances, it is possible to borrow up to 100%  of the agreed purchase price. This lender will offer a mortgage deal of 80% of a standard valuation. If the property is substantially discounted, then the bank will consider lending 100% of the purchase price.

This mortgage is available for non-residents of Portugal. Our example demonstrates indicative mortgage conditions for a borrowing of up to 100% LTV.

Example:

  • Property Bank Valuation: EUR 250,000
  • Property purchase price: EUR 200,000
  • Loan amount: EUR 200,000
  • LTV (loan to Value): 80%
  • Term of Mortgage ( Max 30 yrs): 30 years
  • Maximum age of applicants on final loan repayment: 75 years old
  • Type of Mortgage: Interest only for first 3 years. Capital repayment mortgage for the remaining term of the loan.
  • Interest rate (Variable interest rate): 3M Euribor +2.50% (currently 0.71% + 2.50%= 3.21%)
  • monthly payment over 27 years: €924 pcm
  • monthly payment over 20 years: €1130 pcm
  • monthly payment over 10 years: €1951 pcm
  • Early Redemption: Total early redemption and partial redemption: 0.5%

Comment: If you have found a bargain property and can’t resist buying it, then this could be the mortgage for you. Please contact the mortgage supplier here for more information.

For such a large loan percentage, the interest rates compare very favourably, especially when compared with the neighbours, Spain. This loan is very flexible.

This information should only be used as a guide. All product specifications will depend on the individual’s financial circumstances. The products mentioned here are for non-resident clients, other products will be available for residents. Information correct as of 28/06/10.



3 Years Interest only, up to 75% LTV

Looking to borrow as much as you can on a mortgage in Portugal but need an initial period with just interest payments to make? This mortgage product offers up to 75% Loan to the Value of the property.

This mortgage is available for non-residents of Portugal. Our example demonstrates indicative capital repayment mortgage conditions for a borrowing of up to 75% LTV and allows for the payments in the first 3 years to be interest only as an option.

Example:

  • Property value: EUR 200,000
  • Loan amount: EUR 150,000 (minimum €75,000)
  • LTV (loan to Value): 75%
  • Term of Mortgage ( Max 30 yrs): 30 years
  • Maximum age of applicants on final loan repayment: 75 years old
  • Type of Mortgage: Interest only for 1st 3 years. Capital and repayment for remainder of term.
  • Interest rate (Variable interest rate): 3M Euribor +1.70% (currently 0.71% + 1.70%= 2.41%)
  • Monthly (Interest only) 1st 3 years: €301.20
  • monthly payment over 30 years: €630 pcm
  • monthly payment over 20 years: €788 pcm
  • monthly payment over 10 years: €1408 pcm
  • Early Redemption: Total early redemption and partial redemption: 0.5%

Comment: Perfect for those who would like a short amount of time to pay for other moving-in costs, before starting to pay off the capital amount as well as the interest.

Please contact the mortgage supplier here for more information.

This information should only be used as a guide. All product specifications will depend on the individual’s financial circumstances. The products mentioned here are for non-resident clients, other products will be available for residents. Information correct as of 15/06/10.



Mortgage deal with Maximum Borrowing

Looking to borrow as much as you can on a mortgage in Portugal? This mortgage product offers up to 80% Loan to the Value of the property.

This mortgage is available for non-residents of Portugal. Our example demonstrates indicative mortgage conditions for a borrowing of up to 80% LTV.

Example:

  • Property value: EUR 200,000
  • Loan amount: EUR 160,000
  • LTV (loan to Value): 80%
  • Term of Mortgage ( Max 30 yrs): 30 years
  • Maximum age of applicants on final loan repayment: 75 years old
  • Type of Mortgage: Capital and Interest Repayment
  • Interest rate (Variable interest rate): 3M Euribor +2.15% (currently 0.71% + 2.15%= 2.86%)
  • monthly payment over 30 years:  €663 pcm
  • monthly payment over 20 years:  €876 pcm
  • monthly payment over 10 years:  €1535 pcm
  • Early Redemption: Total early redemption and partial redemption: 0.5%

Comment: For such a large loan percentage, the interest rates compare very favourably, especially when compared with the neighbours, Spain. This loan is very flexible.

If you prefer to place only a small deposit down on the property, this could be the mortgage for you. Please contact the mortgage supplier here for more information.

This information should only be used as a guide. All product specifications will depend on the individual’s financial circumstances. The products mentioned here are for non-resident clients, other products will be available for residents. Information correct as of 15/06/10.



Best Interest Only Mortgage in Portugal

Interest-only mortgage in Portugal, currently available for the life of the mortgage.

This interest only mortgage is at a competitive rate, and has no early redemption penalty. Our example demonstrates indicative mortgage conditions for a borrowing of up to 50% LTV ( For non-residents of Portugal)

Example:

  • Property value: EUR 200,000
  • Loan amount: EUR 100,000 (Minimum loan amounty of €75,000)
  • LTV (loan to Value): 50%
  • Term of Mortgage ( Max 30 yrs): 30 years
  • Maximum age of applicants on final loan repayment: 75 years old
  • Type of Mortgage: Interest only mortgage for the term of the loan
  • Interest rate (Variable interest rate): 3M Euribor +0.95% (currently 0.71%+0.95%= 1.66%)
  • Interest only, monthly payment: €138.35 pcm
  • Early Redemption: Total early redemption and partial redemption: 0%

Comment: This is a fantastic opportunity to keep the cost of borrowing in Portugal as low as possible, with the very least cost to the borrower.

If you have plenty of deposit to place down on the property, this could be the mortgage for you. Please contact the mortgage supplier here for more information.

This information should only be used as a guide. All product specifications will depend on the individual’s financial circumstances. The products mentioned here are for non-resident clients, other products will be available for residents. Information correct as of 15/06/10.


Mortgages in Portugal
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