Can I get a mortgage as an expat in Portugal?

Movingto Editorial Team
December 18, 2022

When it comes to purchasing property in Portugal, expats may face some unique challenges. Among the most pressing concerns is whether an expat can secure a mortgage in Portugal. In this article, we delve into the specifics of the mortgage process for expats, demystifying the journey for foreign nationals.

Can Expats Get a Mortgage in Portugal?

The simple answer is yes. Portugal is an expat-friendly country, and this extends to its property market. Whether you're an EU citizen or a non-EU citizen, Portugal's property market is accessible, and expats can indeed apply for and secure a mortgage.

Considerations for Expat Mortgage Applications

Applying for a mortgage as an expat can be a slightly complex process, and certain considerations need to be taken into account:

  1. Residency: Being a resident in Portugal is not a prerequisite to secure a mortgage. Non-residents can also apply for a mortgage, though the conditions may differ.
  2. Documentation: Expats will need to provide comprehensive documentation, including proof of income, bank statements, identification, and sometimes tax returns.
  3. Credit History: Portuguese banks will assess your credit history. If you have a good credit history in your home country, it can positively impact your mortgage application.

How Much Can You Borrow?

As an expat, the amount you can borrow largely depends on your financial status and the bank's conditions. However, generally, Portuguese banks may lend you up to 80% of the property’s value if you're a resident. The percentage might be slightly less for non-residents.

While applying for a mortgage as an expat in Portugal may seem daunting, it's certainly feasible with the right guidance and preparation. Each case is unique, so it's crucial to seek professional advice tailored to your individual situation.

Need more information or help navigating the Portuguese property market? Don’t hesitate to contact our Movingto team for personalized advice. We're dedicated to making your home buying journey as seamless as possible.

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