Understanding Mortgages in Portugal


Whether you are currently a resident in Portugal or not, if you are considering buying a property as a primary residence or even a holiday home, take a look at what you need to know about the process and options for buying with a mortgage.

Although rates have risen, getting a mortgage might not be as costly or as complex as you may think. Perhaps that dream property isn’t out of your budget after all, or even if you hadn’t considered it before, in many cases, it can be surprising how much more affordable it is to buy compared to renting.

However, the Portuguese mortgage market can be tricky to navigate, especially for foreign buyers; so to help us unravel the process, we were delighted to have experts from the multilingual Mortgage Direct team.

Mortgage Direct has been liaising with banks, estate agents, and international property buyers in Portugal’s everchanging mortgage market since 2006. Among their international staff, they bridge the language gap with English, Portuguese, Spanish, German, Dutch, Polish, and Danish speakers.

Prepare for a successful move and get the most out of Portugal with expert knowledge on your side.

Contact details for Mortgage Direct https://expatsportugal.com/businessd...

00:00 Introduction
02:00 Market overview
03:18 How much can you borrow?
04:40 Mortgage protection insurance
06:04 Application process & timeline
13:18 Property evaluation
13:50 Mortgage age limits in Portugal
16:45 Mortgage affordability
19:30 Are mortgage broker fees paid by the bank?
20:00 How is your credit score evaluated in Portugal?
22:24 Should you start the mortgage process before looking for property?
23:45 Age, finance & using a guarantor
24:42 What are the taxes & fees for property acquisitions?
27:00 Can you get a mortgage to buy land or for a new construction?
27:34 Minimum amount required
28:00 How long is mortgage approval valid for?
30:20 Penalties for early repayment


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Since 2005, Expats Portugal has been assisting people in finding the information, contacts & support they need to migrate to, settle in, & enjoy Portugal!

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