What’s the typical LTV for Mortgages in Portugal?

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  • #18346 Reply
    Rich
    Guest

    Looking to get a mortgage in Portugal and wondering what the typical Loan to Value I can expect is? Would a 10% mortgage be possible? Even better a 5% mortgage?

    #18347 Reply
    James Cave
    Keymaster

    Hi Rich,

    It does depend a little bit on whether you’re a resident in Portugal and how stable your income is considered to be. A freelancer, for example, might have more trouble than someone in a normal job.

    Most people seem to be offered somewhere around 70% LTV so you would need a 30% deposit. You also need to factor in the costs of purchasing which are roughly around 10%, although they can be a bit less. So you might need to be thinking about having 40% cash to hand plus an emergency fund before buying in Portugal.

    This is based on mortgages from Portuguese banks. You may be able to get a mortgage in your home country, but it probably will have a higher deposit than 5 or 10% if it’s being used to purchase a property abroad.

    #18547 Reply
    Jimbo
    Guest

    ~30% deposits seems to be the norm in other countries as well. We previously looked at buying in Germany and Spain and were told we would need a similar amount.

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