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Services > Mortgages
> Holiday
Homes > Portugal
Portuguese Property
as Security
If you require
finance, to purchase
a property in Portugal,
then Justcredit.biz
can help, we can
give you access
to a team of licensed
credit brokers,
who have over 20
years experience
in the field. You
could raise a repayment
mortgage for the
Portuguese property,
depending on your
circumstances.
Based upon the
valuation/purchase
price of your Portuguese
property (whichever
is lower) you could
secure a loan for
up to 80% of its
value, for the purchase
of new property,
or a re-mortgage
on an existing property,
for home improvements
(a re-mortgage for
any other reason
will be dealt with
on a case by case
basis).
There is a minimum
loan of £20,000,
which can be repaid
over a period of
5-30 years and can
be available to
applicants up to
the age of 70. Current
interest rates as
at 23rd July 2003
are from 1.00% above
EURIBOR currently
approx 3.00%. Mortgages
are available in
most major currencies;
commercial loans
will also be considered.
The following
example is based
upon a repayment
mortgage; in Euros.
The cost of a mortgage
protection policy
has not been added.
Repayment
mortgage of
approx €
72,500 over
a period of
20 years at
an interest
rate of 3.00%=
approx €
406.72 capital
& interest
per month
= a total
approximate
amount payable
over the term
of €
100,514 including
capital, interest,
arrangement
and survey
fees.
The income
criteria is
variable
Bank Reference
and Employers
or Accountants
reference
if self-employed
Existing borrowing
in the UK
and Overseas
will be taken
into account |
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