Please note, that there are no non-status/self-certification mortgage facilities available in Portugal (although renting out your property is permitted), but minimum documentation lending schemes for Self-Employed applicants, may now be considered on a case-by-case basis.
All full status mortgages need to be supported by a minimum requirement of proof of income, i.e. if employed - copies of your last three month's payslips & copies of your latest P60/Employer’s Reference together with copies of your last 6 month’s Personal Bank Statements will be required or alternatively if you are self-employed - copies of your last three years Audited Accounts & copies of both your last 6 month's Business and last 6 month’s Personal Bank Statements will be required on application.
Your loan is based on your joint net “take home” pay and is calculated on an affordability basis. All your existing liabilities including any mortgage/rent payments, personal and bank loans and any maintenance (ie: Divorce) payments together with your proposed Portuguese mortgage payments must not exceed 40% of your net monthly income.
Example:
Net joint monthly income £ 2,500 times 40% of that figure is £ 1,000 minus existing monthly mortgage payment £ 300 – No other liabilities. This leaves a balance of £ 700 for a proposed Portuguese Mortgage payment
Mortgage details:
- Maximum loan to value 80%
- Maximum term 30 years
- £20,000 minimum loan
- Loans available in all major currencies
- Repayment and interest only mortgages available
- Rates from approximately 4.40%
Product PT1
INTEREST ONLY
80% House purchase
75% Refinance or equity release
40% Cash out only
(Max 2 Applicants only must be financially linked)
UK and NI CLIENTS ONLY
Maximum age |
Mortgage must be paid in full by age 80 |
Maximum LTV |
80% Purchase |
Maximum loan size |
n/a |
Maximum term |
30 (Minimum term 5 years) |
Repayment type |
Interest only for minimum of 5 years and maximum of 10 years. Followed by repayment for min 5 yrs to max 25 years. |
Compulsory products |
Buildings insurance is required |
Bank arrangement fee |
500 payable after completion with first payment |
Interest Rate |
6 months Euribor + 1.25% for loans below 150k |
Rate review |
3 months |
Income criteria |
Current and new liability against gross income must not exceed; |
Redemption penalty |
0.5% |
Credit search UK |
Yes |
Property Location |
Mainland Portugal or Madeira |
Mortgage title deed tax |
0.60% of lending |
Notary and Registry fees |
1000 approx |
Valuation costs |
200 |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to to the purchase price of the property
Product PT2
STANDARD REPAYMENT
80% House purchase
75% Refinance or equity release
40% Cash out only
(Max 2 Applicants only must be financially linked)
UK and NI CLIENTS ONLY
Maximum age |
Mortgage must be paid in full by age 80 |
Maximum LTV |
80% Purchase |
Maximum loan size |
n/a |
Maximum term |
30 (Minimum term 5 years) |
Repayment type |
Capital and Interest |
Compulsory products |
Buildings insurance is required |
Bank arrangement fee |
500 payable after completion with first payment |
Interest Rate |
6 Mth Euribor + 1.10% loans below 150k |
Rate review |
3 months |
Income criteria |
Current and new liability against gross income must not exceed 38% |
Redemption penalty |
0.5% |
Credit search UK |
Yes |
Property Location |
Mainland Portugal or Madeira |
Mortgage title deed tax |
0.60% of lending |
Notary and Registry fees |
1000 approx |
Valuation costs |
200 |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to the purchase price of the property
Product PT 3
FIXED RATE 5 years
80% House purchase
75% Refinance or equity release
40% Cash out only
(Max 2 Applicants only must be financially linked)
UK and NI CLIENTS ONLY
Maximum age |
Mortgage must be paid in full by age 80 |
Maximum LTV |
80% Purchase |
Maximum loan size |
n/a |
Maximum term |
30 (Minimum term 5 years) |
Repayment type |
Capital and Interest |
Compulsory products |
Buildings insurance is required |
Bank arrangement fee |
500 payable after completion with first payment |
Interest Rate |
6M Euribor + 1.25% loans below 150k |
Rate review |
3 months |
Income criteria |
Current and new liability against gross income must not exceed 38% |
Redemption penalty |
0.5% |
Credit search UK |
Yes |
Property Location |
Mainland Portugal or Madeira |
Mortgage title deed tax |
0.60% of lending |
Notary and Registry fees |
1000 approx |
Valuation costs |
200 |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to the purchase price of the property
Product PT4
STANDARD REPAYMENT
75% House purchase and Equity release
(Max 2 Applicants )
UK and NI CLIENTS ONLY
Maximum age |
Mortgage must be paid in full by age 80 |
Maximum LTV |
75% up to 90% of purchase price |
Maximum loan size |
n/a |
Maximum term |
30 |
Repayment type |
Capital and Interest |
Compulsory products |
Buildings insurance is required |
Bank arrangement fee |
500 payable on application |
Interest Rate |
6M Euribor + 0.95% |
Rate review |
6 months |
Income criteria |
Current and new liability against net income must not exceed 33% |
Redemption penalty |
1.5% |
Credit search UK |
Yes |
Property Location |
Mainland Portugal |
Mortgage title deed tax |
0.60% of lending |
Notary and Registry fees |
1000 approx |
Valuation costs |
175 |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to the purchase price of the property
Product PT5 Purchase
80% of valuation up to 100% of purchase price
Maximum number of applicants
Personal Names only
Residential Urbanised property
UK residents
UK CLIENTS ONLY
Maximum age |
Mortgage must be paid in full by age 75 |
Maximum LTV |
80% up to 100% of purchase price |
Maximum loan size |
N/A |
Maximum term |
30 |
Repayment type |
Interest only up to 5 years interest only period cannot exceed 20% of total term |
Compulsory products |
Buildings insurance is required |
Bank arrangement fee |
0.50% of lending up to a maximum of 780 |
Interest Rate |
6Month Euribor + 0.75% |
Rate review |
6 months |
Income criteria |
All existing liability, new liability, and normal living expenses should not exceed 60% of gross proven income |
Redemption penalty |
0.5% |
Credit search UK |
No |
Property Location |
Mainland Portugal or Madeira, Acores |
Mortgage title deed tax |
0.60% |
Notary and Registry fees |
300 approximately |
Valuation costs |
300 plus stamp duty |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to the purchase price of the property
Product PT6 self builds
40% of land valuation up to a maximum of 80% of final project valuation
Maximum number of applicants
Personal Names only
Residential Urbanised property
UK residents
UK CLIENTS ONLY
Maximum age |
Mortgage must be paid in full by age 75 |
Maximum LTV |
Initial funds maximum of 40% of land up to 80% of final project valuation for construction |
Maximum loan size |
N/A |
Maximum term |
30 |
Repayment type |
Capital and interest only |
Compulsory products |
Buildings insurance is required |
Bank arrangement fee |
0.50% of lending up to a maximum of 780 |
Interest Rate |
6 Month Euribor + 1.25% during construction |
Rate review |
6 months |
Income criteria |
All existing liability, new liability, and normal living expenses should not exceed 60% of gross proven income |
Redemption penalty |
0.5% |
Credit search UK |
No |
Property Location |
Mainland Portugal or Madeira, Acores |
Mortgage title deed tax |
0.60% |
Notary and Registry fees |
300 approximately |
Valuation costs |
300 plus stamp duty |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to the purchase price of the property
Product PT7 Staged payments
40% of purchase price
Maximum number of applicants
Personal Names only
Residential Urbanised property
UK residents
UK CLIENTS ONLY
Maximum age |
N/A |
Maximum LTV |
40% of purchase price |
Maximum loan size |
N/A |
Maximum term |
24 Months |
Repayment type |
Interest only |
Compulsory products |
None |
Bank arrangement fee |
0.50% of lending up to a maximum of 780 |
Interest Rate |
7.5% fixed |
Rate review |
6 months |
Income criteria |
All existing liability, new liability, and normal living expenses should not exceed 60% of gross proven income |
Redemption penalty |
0.5% |
Credit search UK |
No |
Property Location |
Mainland Portugal or Madeira, Acores |
Mortgage title deed tax |
0.60% |
Notary and Registry fees |
300 approximately |
Valuation costs |
N/A |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to the purchase price of the property
Product PT8
Interest Only
75% House purchase and Equity release
(Max 2 Applicants)
UK and NI CLIENTS ONLY
Maximum age |
Mortgage must be paid in full by age 80 |
Maximum LTV |
75% up to 90% of purchase price |
Maximum loan size |
n/a |
Maximum term |
30 |
Repayment type |
3 years interest only followed by 27 years capital and interest |
Compulsory products |
Buildings insurance is required |
Bank arrangement fee |
500 payable on application |
Interest Rate |
6M Euribor + 1.10% |
Rate review |
6 months |
Income criteria |
Current and new liability against net income must not exceed 33% |
Redemption penalty |
1.5% |
Credit search UK |
Yes |
Property Location |
Mainland Portugal |
Mortgage title deed tax |
0.60% of lending |
Notary and Registry fees |
1000 approx |
Valuation costs |
175 |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to the purchase price of the property
Product PT9
5 years Interest Only
80 % House purchase
Personal name and ? only
(Max? Applicants)
Western Europeans and North Americans
Maximum age |
Mortgage must be paid in full by age 75 |
Maximum LTV |
80% of valuation up to ? of purchase price |
Maximum loan size |
n/a |
Maximum term |
25 years |
Repayment type |
Up to 5 years interest only |
Compulsory products |
Buildings insurance is required |
Bank arrangement fee |
175 payable on application followed by 475 plus vat on completion. |
Interest Rate |
Can select 3 or 6 month Euribor 80% loan to value for loans below 150k = Euribor plus 1.25% 80% loan to value for loans above 150k = Euribor plus 0.90% Interest only facility Loans above 150k Euribor plus 1.25%
|
Rate review |
6 or 3 months |
Income criteria |
Existing debts and new debt should not exceed ? of clients net ? Gross incomes |
Redemption penalty |
3% until loan is 10kn or less |
Credit search UK |
? |
Property Location |
Mainland Portugal and ? |
Mortgage title deed tax |
0.60% of lending |
Notary and Registry fees |
1000 approx |
Valuation costs |
? |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to the purchase price of the property
Product PT 10
5 years Interest Only
80 % Self builds
Personal name and ? only
(Max? Applicants)
Western Europeans and North Americans
Maximum age |
Mortgage must be paid in full by age 75 |
Maximum LTV |
80% of valuation up to ? of purchase price |
Maximum loan size |
n/a |
Maximum term |
25 years |
Repayment type |
Interest only during construction followed by up to 5 years interest only |
Compulsory products |
Buildings insurance is required |
Bank arrangement fee |
175 payable on application followed by 475 plus vat on completion. |
Interest Rate |
Can select 3 or 6 month Euribor 80% loan to value for loans below 150k = Euribor plus 1.25% 80% loan to value for loans above 150k = Euribor plus 0.90% Interest only facility Loans above 150k Euribor plus 1.25%
|
Rate review |
6 or 3 months |
Income criteria |
Existing debts and new debt should not exceed ? of clients net ? Gross incomes |
Redemption penalty |
3% until loan is 10kn or less capital and interest |
Credit search UK |
? |
Property Location |
Mainland Portugal and ? |
Mortgage title deed tax |
0.60% of lending |
Notary and Registry fees |
1000 approx |
Valuation costs |
? |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to the purchase price of the property
Product PT11
5 years Interest Only
70 % Equity release unencumbered property only
Personal name and ? only
(Max? Applicants)
Western Europeans and North Americans
Maximum age |
Mortgage must be paid in full by age 65 |
Maximum LTV |
70% of valuation up to ? of purchase price |
Maximum loan size |
n/a |
Maximum term |
25 years |
Repayment type |
Capital and Interest Only |
Compulsory products |
Buildings insurance is required |
Bank arrangement fee |
175 payable on application followed by 475 plus vat on completion. |
Interest Rate |
Can select 3 or 6 month Euribor Under 10 year term for below 150k = Euribor plus 1.70% Over 10 years for loans above 150k = Euribor plus 1.50%%
|
Rate review |
6 or 3 months |
Income criteria |
Existing debts and new debt should not exceed ? of clients net ? Gross incomes |
Redemption penalty |
3% until loan is 10kn or less capital and interest. |
Credit search UK |
? |
Property Location |
Mainland Portugal and ? |
Mortgage title deed tax |
0.60% of lending |
Notary and Registry fees |
1000 approx |
Valuation costs |
? |
Buildings insurance |
On application |
Please note total costs of purchase and finance will add around 10% to the purchase price of the property
Portugal products |
Maximum Percentage of purchase price subject to valuation |
Maximum Percentage of valuation |
Term |
Max Age |
Bank Fee |
Redemption penalties |
Repayment Basis |
Interest rate |
Product PT1
|
80% |
80% purchase |
30 years |
80 |
1% |
0.50% |
Interest only up to 10 years |
From 6 monthly Euribor plus 1.10% |
Product PT1 |
N/A |
75% |
30 year |
80 |
1% |
0.50% |
Interest Only up to 10 years |
From 6 Monthly Euribor plus 1.10% |
Product PT1 |
N/A |
40% |
30 year |
80 |
1% |
0.50% |
Interest only up to 10 years |
6 monthly Euribor plus 2% |
Product PT2 |
80% |
80% |
30 year |
80 |
1% |
0.50% |
Repayment |
From 6 Monthly Euribor plus 0.90% |
Product PT2 |
N/A |
75% |
30 year |
80 |
1% |
0.50% |
Repayment |
From 6 monthly Euribor plus 0.90% |
Product PT2 |
N/A |
40% |
30 year |
80 |
1% |
0.50% |
repayment |
From 6 monthly Euribor plus 1.5% |
Product PT3 |
80% |
80% purchase |
30 years |
80 |
1% |
0.50% |
Repayment |
From 6 monthly Euribor plus 1.10% |
Product PT3 |
N/A |
75% |
30 year |
80 |
1% |
0.50% |
Repayment |
From 6 Monthly Euribor plus 1.10% |
Product PT3 |
N/A |
40% |
30 year |
80 |
1% |
0.50% |
Repayment |
6 monthly Euribor plus 2% |
Product |
90% |
75% |
30 year |
80 |
500 |
1.5% |
Repayment |
6 Monthly Euribor plus 0.95% |
Product PT5 |
100% |
80% |
30 years |
75 |
0.50% |
0.50% |
Interest only up to 5 years |
6 Monthly Euribor plus 0.75% |
Product PT6 |
N/A |
80% of final project value |
30 years |
75 |
0.50% |
050% |
Repayment |
6 month Euribor plus 1.25%during construction |
Product |
40% |
N/A |
24 Months |
N/A |
0.50% |
0.50% |
Interest only |
7.5% fixed full term |
Product PT8 |
90% |
75% |
30 years |
80 |
500 |
1.5% |
Interest only up to 3 years |
6 Month Euribor plus 1.10% |