If you would love to purchase a property in Portugal but are unsure how to finance the purchase and are concerned about the current exchange rate, then it may be worth considering obtaining a mortgage in Portugal.
There are many benefits to obtaining a mortgage here and it could still be possible to escape the the dreary UK weather and purchase your dream home in the sun! Gatehouse International Portugal are based in
Almancil in the Algarve and have a property to suit everyone. Whether you are looking to purchase a quarter share in a lovely golf apartment or to invest in a magnificient villa with sea views then we have something for you.
We have listed below some reasons to look into the various options available to you in obtaining a mortgage in Portugal. Gatehouse International work with a local financial adviser based in the Algarve and would be pleased to
put you in touch with them.
• Euribor is lower than UK interest rate
• Sterling can be banked in a sterling account in Portugal and gain interest (currently 4.9%) and used as collateral for a mortgage. When the sterling becomes stronger client can redeem the mortgage if they desire
• Early redemption fee is fixed by the government at 0.5% (eg. €100,000 mortgage, redemption would be €500.00)
• Set up fees are much lower than the UK
• Mortgage can be set up within 4-8 weeks
• Can lend up to 90% of the value of the property if non resident
• Can have a mortgage up to 80 years of age
• Can have interest only for up to 15 years
• Spreads can be as low as 0.4%
• Low valuation costs
• Only assets in Portugal are at risk
• Use of a financial service that in 99% of cases will beat other competitors on rate
• Three year fixed rate
• The finance company will always advise of new products available and arrange a mortgage transfer to better conditions
• Equity release can be combined with mortgage transfer to obtain maximum loan to value release of funds
• Arrange free mortgage transfer with better conditions
Contact our Algarve office for the cost of a local call on 01480 477773 or on 00351 289356395
Alternatively look on our website for a wide selection of properties in the Algarve, Alentejo and Blue and Silver Coast regions