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Do I qualify for a mortgage in Cape Verde?
To qualify
for a mortgage in Cape Verde, a calculation is used to establish whether you can afford to maintain the mortgage repayments. This will automatically happen when you complete the application form, and
Mortgage Helpline International won't charge you for this service.
How much can I borrow?
Calculation based on the valuation or purchase price, whichever is the lower
Up to 50% of LTV
available for house purchase, remortgage or home improvements
Based on joint gross pay, where joint income is applicable
Existing liabilities, e.g. mortgage or rental payments, loans, credit card
payments and maintenance are taken into account, together with the proposed Cape Verde mortgage payments. All this must not exceed 33% of your monthly gross income
What evidence of income do I
need?
If you are employed:
Your original last three month's payslips
Your original latest P60 or Employers Reference
Your original last six month's personal bank statements
If you
are self-employed:
Your last three year's audited accounts & last three year's tax returns.
Your last 6 month's business statements
Your last 6 month's personal bank
statements.
Example mortgage payments
If, for example, your gross joint monthly income is £2,500, 33% of this equates to £825. If your only liability is your mortgage payment, of say £300, this
would leave a balance of £525 for your Cape Verde mortgage repayment.
What types of mortgages are available for Cape Verde?
For our latest rates and to see the different types of
Cape Verde mortgages on offer, please contact us.
Loans are available up to 50% of the property's value or purchase price, whichever is lower.
The maximum term of any mortgage is 20 years; this
varies on the type of loan.
Repayment mortgages are available
The minimum loan you can take out is €25,000
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