If you're thinking of buying a property in Portugal then you'll need to invest in the help of Portgual mortgage brokers and other foreign property specialists.
If you're from the UK and want to ensure you get the best deal on your property in Portugal then make sure you use an english speaking mortgage broker. Remember, you're dealing in Euros for your mortgage which already means it can be a confusing process. Using an english speaking broker will ensure the process runs far smoother.
Equally important though is finding mortgage brokers who know about the economy in Portugal and what deals will suit you best. It's great to find an english speaking broker, but if they don't know anything about the area you want to move to and can't offer skilled advice on the kind of mortgage you should be looking for then they're of little use. Make sure you ask questions about the range of mortgages they have and their experience with mortgages in Portugal specifically.
Getting mortgages for properties in Portugal normally requires a higher deposit than you'd expect to pay for a UK home. This is because the mortgages offer a much lower loan to value (usually around 70%) meaning you can only borrow up to a certain amount of the properties value.
Make sure that when you find a good Portugal mortgage broker who then finds you a great deal, they explain all of the details attached to your arrangement. Buying property abroad is a very similar process to the UK but like any legal arrangements, things always differ slightly from one country to the next.
We have more information on Portugal mortgage brokers listed below and can also divert you to some of the best mortgage brokers for properties in Portugal currently available.
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