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Portugal and SpainCovering all
Spain & Portugal
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Mortgage Direct cover "standard" applications as well as providing mortgage brokerage services in specialist areas.
Holiday home mortgages are available for private non-resident property buyers, who are not Portuguese residents. The maximum borrowing amount is up to 70% of the property purchase price (or valuation if lower).
Construction mortgages are for property buyers who wish to build a new house from the ground up or to renovate an existing property. The maximum borrowing amount is generally 50% of the plot cost plus 70% of the cost of the works.
Primary residence mortgages are for those who will live in their property in Portugal as their main residence and pay their income tax here. It's possible to secure mortgages up to 80% of the property purchase price (when you are a Portuguese taxpayer) with rates from Euribor + 0.99% or fixed rates from 1.95%.
Investment mortgages are for those property buyers planning to rent out their property after purchase. Generally speaking, banks will only offer 50-60% of the property purchase price (or valuation if lower) for these types of mortgages.
Commercial mortgages, including mortgages taken out by companies, are for those who seek to buy property for commercial purposes and might include investment mortgage. Available up to 50% of the property purchase price with rates from Euribor + 2.1%.
Mortgage Direct can help you arrange Bridging Finance throughout Portugal for amounts in excess of €500,000 for loan terms of up to 36 months and up to 65% LTV. Interest rates are available from 0.70% pcm and different sectors are considered.