Mortgage Products

Our mortgages are designed for people buying property in Portugal.

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The Bank will consider lending up to 65% of the valuation of the property or purchase price, whichever is lower, with a minimum loan of EUR 100,000. The loan will be in EUR.
Interest will be charged at a margin over the Bank’s mortgage loan rate. The mortgage will be on a capital repayment basis.

Finance is available to United Kingdom and Euro-Zone residents.
The Bank will analyse the applicant’s financial position to be able to meet the conditions of the loan, which will be based on affordability.
If an applicant is self-employed, an application must be accompanied by audited accounts for the previous three years together with the current year’s management or unaudited accounts, satisfactorily certified by an accountant acceptable to the Bank, together with three years tax returns.

All loans have a maximum term of up to 15 years to be repaid by the age of 75.

The security will be either a mortgage over the property or, if the property is owned by a company (which the Bank requires to be managed by a specialist management company from it’s approved list), the Bank will require a charge over the shares of the company along with a mortgage registered on the property.
The Bank will recommend an assignment over a suitable life insurance policy. It will also be a condition of the loan that the property is insured for it’s full replacement value and the Bank’s interest noted thereon. If required, the Bank can effect introductions to Insurance Brokers.

Approval of any loan application will depend upon the independent valuers appointed by the Bank providing a favourable report on the property, the cost of which will be borne by the applicant.

If you wish to proceed please download and complete the Application Form. Details of the supporting documents required and associated costs can be found on the Mortgage application checklist.

Once an application has been approved by the Bank and the terms and conditions have been offered and accepted, all legal documents will be prepared by the Bank’s lawyers with all legal fees to be borne by the applicant.

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Your home may be repossessed if you do not keep up repayments on your mortgage.
Where a loan is arranged in a foreign currency the sterling equivalent of your liability under a foreign currency mortgage may be increased by exchange rate movements.

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