You live in the UK. You want an Algarve townhouse, a Lisbon apartment or a Silver Coast villa. Portuguese banks lend to non-residents up to 70 percent LTV, EUR-denominated, typically Euribor plus margin, or fixed rates 3.5 to 4.5 percent. NIF (Numero de Identificacao Fiscal) required to open a Portuguese bank account and complete the purchase.
Typical numbers, non-resident
- LTV up to 70 percent (60 percent for pure holiday use).
- Currency EUR. Rate Euribor plus 1.5 to 2.5 percent, or fixed 3.5 to 4.5 percent.
- IMT (property transfer tax), stamp duty, notario, plus mortgage-registration fees. Budget 8 to 10 percent all in.
- Life-insurance requirement common.
We are a credit broker and not a lender. Whichever lender we introduce you to, we will typically receive commission from them after completion. Where we refer you to a third-party overseas broker we may receive an introducer commission. This does not affect the amount you pay.