Getting a mortgage in Portugal is currently extremely difficult if you are looking to buy a property in the regular manner.
However, gaining a mortgage on bank repossessed properties in the Algarve, or Silver Coast, is much easier.
You still have to demonstrate that you can afford the mortgage, but the repossessing bank is motivated to re-lend on the property.
Many of our Portuguese bank repossessions already have 80% mortgages available, subject to status. The Banks are not in the business of owning and managing these assets. They would much rather lend on them.
Buying from a private owner, generally Portugal banks will only lend up to 50/60% of the purchase price.
If you would like to know more about mortgages in Portugal, please contact us.