Portugal

Do I qualify for a Portuguese mortgage?

To qualify for a mortgage in Portugal, a calculation is used to establish whether you can afford to maintain the mortgage repayments. Once you have completed our enquiry form, Mortgage Helpline International will be able to assess your suitability for a mortgage.

How much can I borrow?

The calculation is based on the valuation of the property and up to 70% of LTV available for house purchase, remortgage, construction loans or home improvements.
Based on joint gross & net monthly 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 Portuguese mortgage payments. All this must not exceed 35% of your monthly net income.

What evidence of income do I need?

If you are employed:

Your last three month’s payslips

Your last two years tax assessments and Employers Reference/Contract of Employment

Your last six month’s personal bank statements

Full credit report

If you are self-employed:

Your last 2-3 year’s audited accounts and personal tax returns

Your last 3 month’s business bank statements

Your last 3 month’s personal bank statements.

Full credit report

Example mortgage payments

If, for example, your net joint monthly income is 8,000, 35% of this equates to 2,800. If your only liability is your mortgage payment, of say 1,200, this would leave a balance of 1,600 for your Portuguese mortgage repayment.

What types of Portuguese mortgages are available?

For our latest rates and to see the different types of Portuguese mortgages on offer, please contact us.

Loans available up to 70% of the property’s value

The maximum term of any mortgage is 30 years, this varies on the type of loan

Repayment mortgages available

The minimum loan you can take out is €50,000