Mortgage funding in Portugal

[Red Sun Consulting]

I'd be very interested to learn what experiences members have now with mortgage lenders in Portugal.

Lending tightened up considerably last year and it seemed very difficult to get applications approved for almost any type of applicant. Is this still generally true or are lenders being a little more flexible now?

 

[sugerir]

Hello Red Sun,

Portuguese banks are still lending money but they will only fund around 70% of the evaluation that they do to the property, wich means they want the clients to put a deposit of around 30%

 

[bfremont]

From my research that's usually the case. I've seen adds with up to 80% ltv, but after sifting through the details they don't pan out.

 

[Albainbridge]

It's vert difficult in getting a mortgage in Portugal, especially if you are not a resident. I tried to increase mine sometime back and was told this. It was pretty easy getting one although it was at the start of the Banking Crisis. However the banks now really look into earnings and whether you can afford to repay. A good thing I suppose but if your not resident and all your financial dealings are abroad more difficult.
Some people raise the money on their UK assets. Still difficult but easier to raise money than in Portugal that's for sure.
Good Luck.