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AssertiveProfit Unipessoal LDA
  • Call our team:
    +34 963 156 011

  • Covering all
    Portugal and Spain
    Covering all
    Spain & Portugal

  • Office hours:
    Mon - Sat: 9am - 6pm: 9am-6pm

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Refurbishment and more

Construction mortgages

For this type of mortgage, the best products are where the banks will offer a loan against the plot of land (up to 50% of the cost, or value of lower) and also for the construction works (up to 70% of the cost, or value of the project, if lower).

In all cases, applicants must own the plot of land outright before any bank will lend. It is possible to purchase the land and sign for the mortgage at the same time, but most clients buy the land first. With the best products, the banks will pay up to 50% of the cost of the plot (or value if lower) as the first installment, but usually only once the works have started.

It is necessary to have all the paperwork relating to the construction project ready at the start of the formal mortgage application process. This will include the architect’s plans for the project (stamped by the College of Architects), building license and detailed quotes from the construction companies that will carry out the works. A specialist valuer will assess the project as a whole and the banks will base their lending on the valuer’s report.

We have arranged many construction mortgages over the years and can offer expert guidance on the process. If you are interested in this type of mortgage, we would advise that you contact us as soon as possible.