BANK LOANS

BANK LOANS

Are you planning a real estate purchase in Portugal with financing?


 
When buying a property in Portugal, you can apply for a loan from a local bank.
Currently, Portuguese banks only very rarely finance non-residents beyond 80% of the price of the valuation carried out by an expert appointed by the bank.


The basis of calculation is therefore not the amount of the transaction. With the rebalancing of recent years real estate assets are generally valued at the market price.
It is possible to finance a well constructed but also a property under construction or a project to be built.
When it comes to construction the bank releases slices depending on the progress of the site.


 
In Portugal it is not common to use a fixed rate. This rate is generally indexed to Euribor at 6 or 12 months (rarely 3 months).
That is, when the Euribor rate rises your monthly repayments rise and they fall when the Euribor rate falls.
In recent years this rate is very low.
 

 
Guarantee


If you borrow to finance real estate, you will be asked for guarantees. In general the bank will ask you to constitute a (voluntary) mortgage in its favor on the purchased property.
Mortgage that will be lifted when the entire bank loan is repaid.


 
In order to simplify these procedures we have partners who can meet you throughout UK and who will find the best solution for you.

 

For more information do not hesitate to contact us by email:
Info@portugalimmobilierinformation.fr
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