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Webinar about mortgages and loans in Portugal for American and Canadian clients.

Here are the key points:

Why would an American or Canadian client keep their savings and get a mortgage to buy a property in Portugal?

They can keep their savings invested and potentially earn a higher interest rate than the interest rate on the mortgage.

They may avoid capital gains taxes by not selling their investments to buy the property outright.

What documents are required to get a mortgage in Portugal?


Portuguese tax number (NI)

Employer letter stating current salary, type of employment, job title, and time with the company

Paystubs for the last three months

Bank statements for the last three months for main account, savings accounts, and other financial products

Investment documents (e.g., 401k, RRSP)

Last income tax return (federal and state/provincial, if applicable)

Detailed credit report

Can a property be 100% financed through a mortgage in Portugal?

No, non-residents need to put down a minimum down payment of 20% for a primary residence and 25% for an investment property.

What are the mortgage interest rates in Portugal?

As of April 2024, fixed interest rates ranged from 3% to 3.5% depending on the loan term.

Variable interest rates are typically lower than fixed rates in the short term, but they can fluctuate over time.

What is the maximum loan term for a mortgage in Portugal?

The maximum loan term is 30 years for borrowers under the age of 75.

What is the spread on a mortgage in Portugal?

The spread is the difference between the bank's base rate and the interest rate charged to the borrower. It is negotiable and depends on the borrower's creditworthiness and the loan product.

Can I avoid life insurance on a mortgage in Portugal?

Yes, if you put down a large enough down payment (at least 50%).

Can I get a mortgage in Portugal if I am over 70 years old?

It may be difficult, but there are some options. You may be able to get a shorter loan term or co-sign with someone younger. You could also buy the house in the name of your children and live there as a usufructuary (with the right to use the property for your lifetime).

Follow the link to watch the complete webinar

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