Mortgage in Portugal for Non-Residents
Complete guide to getting a mortgage + brokerage service
Portuguese banks actively lend to foreigners. Rates are tied to Euribor and currently range from 3-4% annually. Non-residents can get up to 70% of the property value for up to 30 years.
Mortgage Conditions for Non-Residents
LTV (Loan-to-Value)
Banks finance 60-70% of the property value for non-residents. This means a down payment of 30-40%.
Loan Term
Maximum term is 30 years, but there's an age limit: the loan must be repaid by age 75-80.
Debt-to-Income Ratio
Monthly payment should not exceed 30-35% of the family's net income (taxa de esforço).
Minimum Amount
Most banks set a minimum of €50,000. For non-residents, the threshold may be higher.
Basic Borrower Requirements
Banks Working with Non-Residents
| Bank | LTV | Features |
|---|---|---|
| CGD (Caixa Geral) | up to 70% | State bank, conservative approach |
| Millennium BCP | up to 70% | Largest private bank, flexible terms |
| Santander Totta | up to 70% | Spanish group, good rates |
| Novo Banco | up to 65% | Actively works with non-residents |
| BPI | up to 70% | Part of CaixaBank group |
| UCI | up to 60% | Specializes in non-residents |
Important: conditions may vary depending on the borrower's country of origin, income type, and specific property. We help find the bank with the best conditions for your situation.
Interest Rates
Variable Rate
Tied to Euribor (6 or 12 months). Reviewed every 6-12 months.
Fixed Rate
Fixed for the entire term or first 5-10-15 years. Higher than variable but predictable.
Bank Rate Comparison (2025)
| Bank | Variable | Fixed (10 years) |
|---|---|---|
| Millennium BCP | 3.50% | 3.20% |
| Santander Totta | 3.60% | 3.30% |
| Novo Banco | 3.75% | 3.50% |
| CGD | 3.80% | 3.60% |
* Rates are indicative and depend on borrower profile. Check current conditions with the bank.
Euribor Forecast 2025-2026
ECB continues to cut rates. Santander forecast: Euribor 6M may drop to 1.9-2.1% by early 2026.
This means potential variable rate reduction to 3% and below.
Required Documents
Personal Documents
- Passport (copy of all pages)
- NIF (Portuguese tax number)
- Proof of residence address
- Marriage certificate (if applicable)
- Criminal background check
Financial Documents
- Tax returns for 2-3 years
- Income certificate / employment contract
- Bank statements for 6-12 months
- Statement of existing loans
- Proof of down payment source
Property Documents
- Caderneta predial (tax passport)
- Certidão de teor (registry extract)
- Licença de utilização (usage permit)
- Ficha técnica de habitação
- Certificado energético
Additional
- Property valuation (done by bank)
- CPCV contract (preliminary agreement)
- Life insurance (mandatory)
- Property insurance (mandatory)
- Apostille on foreign documents
Important About Translations
All documents in foreign languages must be translated into Portuguese by a certified translator and apostilled. We help organize translations.
Mortgage Process
Pre-Approval
1-2 weeksWe submit applications to several banks with basic documents. Get preliminary decision on amount and terms.
Property Selection
individualWith pre-approval, we search for property. You know the exact budget and conditions.
CPCV Signing
1-2 weeksSign preliminary contract with the seller. Typically 10-20% deposit. Bank starts property valuation.
Bank Valuation
1-2 weeksBank orders independent valuation. Loan amount depends on valuation, not purchase price.
Final Approval
2-4 weeksBank analyzes all documents and makes final decision. You receive binding offer.
Notary Deed
1 daySigning at notary. Bank transfers funds to seller. You receive keys and become the owner.
Total Timeline
from application to deal closing
Our Mortgage Brokerage Service
Mortgage Brokerage
Full support from application to deal
- Analysis of your financial profile
- Applications to 3-5 banks simultaneously
- Negotiation of best terms
- Document preparation and translation
- Communication with bank in Portuguese
- Support at all stages until deal closing
Payment Schedule:
- • €1,000 upon signing service agreement
- • €2,000 upon receiving bank approval
Guarantee
If no bank approves the loan for reasons beyond your control, we refund 50% of the advance.
Savings
By working with multiple banks, we often get rates 0.2-0.5% lower, saving thousands of euros over the loan term.
Frequently Asked Questions
Can I get a mortgage if I don't live in Portugal?
Yes, Portuguese banks actively lend to non-residents. You don't need a residence permit or to live in the country. A NIF (tax number) and documented income are sufficient.
What is the minimum down payment?
For non-residents — typically 30-40% of the property value. Some banks may offer up to 70% LTV with a strong borrower profile.
Do they accept income in foreign currency?
Yes, banks accept income in foreign currency. Currency conversion and additional income stability documentation will be required.
Do I need to open an account in a Portuguese bank?
Yes, this is mandatory. The account is needed for monthly payments. We help open an account remotely.
Can I repay the loan early?
Yes, without penalties for variable rates. For fixed rates, there may be a 0.5-2% fee on the early repayment amount.
What if Euribor increases?
With a variable rate, your payment will increase. You can choose a fixed rate or mixed option (fixed for first years, then variable).
How long does approval take?
Pre-approval — 1-2 weeks. Full process from application to deal — 6-10 weeks. Depends on case complexity and bank.
Can I get a mortgage for commercial property?
Yes, but conditions are less favorable: LTV up to 50-60%, higher rates, shorter term. Business plan required.
Complete Your Purchase Journey
Mortgage is just one piece of the puzzle. Explore the full buying process:
Step 1
Property Selection
Find the right property first
Step 2
CPCV Contract
Secure the deal with a promissory contract
Costs
Purchase Taxes (IMT)
Calculate total acquisition costs
Funding
Capital Transfer
How to move funds to Portugal
Alternative
Buy with Crypto
Purchase property using cryptocurrency
Explore
New Developments
Browse vetted projects in Portugal
Free Mortgage Consultation
Tell us about your situation, and we'll assess approval chances and find optimal conditions
1700-116, Lisboa
Related Articles
Golden Visa Alternative
Invest €500K in funds instead of property — no mortgage needed
Mortgage Calculator
Calculate monthly payments and compare bank offers
NIF Guide
Tax number is required for mortgage application
Housing Package 2026
New conditions for mortgage borrowers in 2026
Buy with Cryptocurrency
Alternative to mortgage — purchase property with crypto