# mortgage in portugal



## Weebobsgrampa (Apr 15, 2017)

good morning everyone.
we are visisting Alte in 4 weeks to view several properties that are for sale, we intend to buy a house if we find one we want then use it for holidays until we are ready to relocate full time, im looking for some advice on getting a mortgage for it, is it better/easier to arrange one in the UK or Algarve, we are currently resident and tax payers in scotland, the house will be bought through our business i suppose on paper as a holiday rental, but to be honest im looking for advice on how it can be done to be the most tax efficient but legal (obviously) 
thanks 
kirk


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## MrBife (Jul 26, 2009)

Very difficult to offer any advice without access to a crystal ball to see what will happen to currency over the duration of your mortgage. It also depends on your age, how long you will be earning and what your loan period would be. It may also be influenced by what interest rate you can get in the UK.

In Portugal most mortgages would be via the main PT Banks (and we all trust banks don't we !)

If exchange € to £ gap widens then you would be better borrowing in £'s. If you are moving over or receive your pension in € then better to borrow in €.

Probably best in the first instance to have a chat with an independent UK based International Mortgage Broker - Someone like Simon Conn who has access to providers in both locations and will give you some comparative quotes and have a 'devils advocate' conversation with you.


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## Weebobsgrampa (Apr 15, 2017)

many thanks for the pointers


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## randikev (Aug 26, 2016)

Hi
We tried to get a mortgage in Portugal with CGD.
We have very good rating and income so we were able to get close to the amount we wanted even though they only give you 70-80% mortgages. The problem came when they undervalued the house to only 50% of the sales price.
Be prepared for a long process and very low risk threshold.
Hope this helps

RK


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## Weebobsgrampa (Apr 15, 2017)

thanks, we are looking at properties about 200,000 with half as mortgage, so fingers crossed we can sort something out, we know from our sons dealings that "officialdom" is painfully slow, but then again thats the relaxed lifestyle we will enjoy in retirement so we cant have it both ways,


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