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Financing buying a home in Portugal

Frequently asked questions regarding finances when buying a home in Portugal.

Q: Are Portuguese mortgages available with fixed and variable interest rates?

A: Normally, Portuguese mortgage can be fixed for 5, 7 or 10 years.

Q: How much can I borrow?

A: There is no legally stipulated loan ceiling. Mortgages of 50–80% of the property value are most common, depending on the bank chosen.

Q: What does it cost to take a mortgage loan in Portugal?

A: It depends on the size of the sum being borrowed. Normally, in Portugal it costs approx. 1100 euro.

Q: What is the simplest way for me to pay the ongoing costs for my property in Portugal?

A: We recommend that you open an account with a Portuguese bank and set up autogiro payments and internet banking. Many Portuguese banks operate internet banking in English.

In Portugal the property tax cannot be paid through direct debit but can be paid through internet banking.