Mortgages in Portugal for Non Residents

If a mortgage is required to purchase your property then there are various options available to you.

Currently (as at December 2020) on offer are,

• Standard rates are 1% over Euribor which is more or less minus at present

• Loan to value (LTV) is 60% for non residents at Bank Inter, 70% at Santander

• Fixed terms of 5 /10/ 15 years. Maximum period is 40 years subject to current rate

Getting a quick response from any of our suggested providers is all about having all of your documents in order, they will ask for a lot of information and the sooner you can get it to them the sooner you will get a decision but remember you can start the process BEFORE you have found a property.

Vendici do not take any commission for referrals unlike other agents…..by going direct you should get the best rates available. Also, in order to submit a mortgage application you will be required to provide:

• Application Bank Form
• Open a Bank Account 
• Copy of Passport 
• Portuguese Tax Number (Fiscal Number) which you can obtain directly or your lawyer can arrange for you.
• Bank Statements for 3 months prior to application
• Proof of any Savings or Investment Accounts
• Proof of Residence i.e. utility bill
• Copy of last year’s income tax declaration (3 years with dividends/ bonus)
• Last 3 years Audited Company Accounts (if self employed)
• Letter from employer confirming length of service and gross annual salary
• 3 previous months Payslips / Income Statement for Retirees
• Property Documents (Plans, title certificate, name and contact for valuation)
• Full Credit report with scoring

We suggest you contact any of the following organisations in the first instance:

Name : Jose Vieira
Mobile No : 00351 938 885 574
Email : jose.vieira@santander.pt
Company : Santander Totta Bank – Almancil

Name : Ricardo Camacho, Branch Director
Mobile No : 00351 914 458 096
Email : ricardo.camacho@millenniumbcp.pt
Website : www.millenniumbcp.pt

Name : Rui Laureiro
Mobile No. : 00351 913 497 325
Email : Rui.loureiro@bankinter.com
Company : Bank Inter - Almancil (opposite Apolonia)

Click to download a printable version of the information in this blog post- Vendici Properties Fact Sheet 2.3 Mortgages in Portugal for Non Residents

For Further Information or Assistance Please do not hesitate to contact :
Email : rebecca@vendiciproperties.com or Mobile : +351 919 592 097