Bank Loans for Non-Residents in Portugal.

PORTUGAL a small, welcoming country with warm and hospitable people. A country is known for its security, irresistible cuisine, incredible natural landscapes.

These are some of the reasons why a lot of people have decided to move here or invest in Portugal.

However, being a non-resident, you need to pay attention to some details that different financial institutions establish. Using credit to finance part of the property purchase is very common and that is why it is necessary to carefully study the options available on the market and get the help of specialists that can give you the best advice.

Are you looking for the best real estate opportunities?

Are you moving to Portugal and need a Bank Loan to purchase a property?

Check what you will need to apply for a mortgage loan for non-residents*:

✓ Identification document or passport;

✓ Portuguese Tax Identification Number (NIF);

✓ Bank statement for the last six months;

✓ Last personal income tax declaration;

✓ Professional Proof (depending on whether the client is self-employed or employed).

* Other documentation could be required depending on the bank.

Ø What is the maximum amount of Mortgage Credit for non-residents?

According to the Banco de Portugal, financing for foreigners to purchase a permanent, secondary, or rental home is up to 70% of the purchase price of the property, depending on the customer's profile and guarantees.

Ø What is the repayment term for a Mortgage Credit for non-residents?

Generally, the maximum repayment term for a mortgage loan in Portugal for non-residents is restricted to 30 years. Be aware that the sum of the borrower's age and the credit cannot exceed 75 to 80 years of age at the end of the credit - this maximum age may depend on the bank, always check with the financial institution. For example, a 50-year-old client could have a maximum loan of 20 to 25 years.

Contact us and find out more information!