Applying for a mortgage can seem like a daunting task regardless of location. Ideal Homes Mortgages was founded on the very premise of making buying property an enjoyable experience. Our primary service is to assist clients with property financing and mortgage brokerage with the best financing partners in the industry. We guide our clients through all the necessary requirements when applying for a property loan and work to ensure the most competitive interest rates and condition for their property financing. Qualification Process - Whether an investor is purchasing a holiday home, permanent residence or rental investment, we advise going through a “pre-qualification process”. This entails the possibility of approval, understanding of budget and repayment expectations, applicable terms and possible interest rate. This is not a loan guarantee, but rather a guide for the client to understand the process and expectations should a loan be approved. Documentation - Portugal has a very transparent property purchasing and mortgage system, to ensure this there are strict document requirements. We advise clients have all of their personal and financial documentation in order. General Documents Passport Proof of address Credit report Bank statements Savings account statements Valuations of investment portfolios Employed clients Payslips (last 3-6 months) Last tax submission Employer's reference Self employed clients Profit & Loss (1-3 years) Last company tax return Last personal tax return Business bank statements (last 3 months). *A national Portuguese tax number will be required, assistance to obtain can be provided if needed. Property Financing Considerations Loan amount must not exceed 80% of the mortgage valuation or purchase price (whichever is lower). Clarity on repayments, how long will repayments take. Residency or non residency status. Special residency programs, Golden Visa, Serphradic Jewish Ancestry. Lending Criteria - rural/rustica property or farmhouse properties are unlikely to be accepted. Bank Repossessions - Excellent investments can be found for personal use or pure rental investment through bank repossessions. Banks are currently offering up to 90% financing with interest rates as low as 1%, some of these fixed for extended periods. These considerations are extended dependant on individual circumstances. Free Mortgage & Property ConsultationIdeal Mortgages, being part of Ideal Homes, provides a full suite of services from tailored viewing trips, to help you find your perfect home, all the way through to getting the lights turned on, and your home furnished after purchase. We also manage the property for you in your absence, and our rentals division will manage your property marketing and bookings, so you can enjoy your property investment abroad with peace of mind.Still looking or found your ideal property, and interested in a free consultation to start charting your journey of investing real estate abroad? Its our pleasure to help guide and ensure you have the information you need to feel confident and secure in your investment decision today and in the future. Simply get in touch to have a chat.
It could be argued that purchasing a property tops the list of large purchases you will make in your lifetime. You are going to want to pay special attention to costs if planning on moving to a foreign country, right? Here at Ideal Homes Mortgages, we have made finding out your potential mortgage costs in Portugal easier than ever with this useful Portugal mortgage calculator. This helps you quickly learn more about your mortgage costs, as well as assisting you with the important financial planning you are undoubtedly making for the future. It is important to note that the information produced from our Portuguese mortgage generator is computer generated and is only an estimate of the potential cost that you may be looking to spend on a mortgage in Portugal. If you are looking for a personalised calculation that is 100% accurate and meets your requirements, then be sure to speak to a mortgage specialist. Here you will have accurate calculations before you act on the information provided. Our team will be glad to help if you want to follow up on the information you are provided with.We cannot accept any responsibility for errors and ask that you report any faults you find in calculations to us so we can provide a better service in the future. If you would like to get in touch with a member of the team, feel free to call us on +351 289 513 434 or, if you are based in the UK, our freephone number on 0800 133 7644. You can also contact us by emailing us at info@idealhomesmortgages.com or complete our online enquiry form. How do I use a mortgage calculator? Using our Portuguese mortgage calculator has never been easier. Simply fill out the mortgage amount you are looking to pay, as well as the current interest rate. Also, be sure to fill out the term in which you are looking to pay in years. Once you have clicked “calculate now” we are able to tell you your monthly payments, payments in total and how much interest you would have paid. This is as well as breakdown on amortisation and a mortgage structure, giving you a clear idea of what you should be looking to pay. Why is it important to know about mortgage payments? As you will know, obtaining a mortgage is crucial in buying your own property, which is why we mind many people are intrigued about getting a roundabout figure of what you’re looking to pay for the property of your dreams.This is why we at Ideal Homes Mortgages thought we would help with this handy tool, allowing you to quickly distinguish whether the instalment amount will fit your budget or not. Can I find a mortgage for any property? Yes, this Portugal mortgage calculator will allow you to work out the mortgage value for any property you are interested in. You are able to input any mortgage value, so no matter how big or small your property is, you are able to have access to a quick and responsive number, so you can easily figure out how much you will have to (approximately) pay for any property in Portugal.
Buying and investing in property abroad often requires foreign exchange and payment services to financial navigate in the currency of the chosen country. Having a large percentage of our clients transact in non euro currency for international money transfers means we are well accustomed to the needs and exchange requirements involved when making payments. We work with certified foreign exchange partners who offer personal transfers and corporate exchange services. Whether you need to make one-off or regular payments, using an exchange service can save you money on exchange rates and provide you with guidance of the foreign exchange market, ensuring you have your funds transferred to where you need them to be at a lower fee than most banks. Exchange Service Advantages Competitive exchange rates Online money transfers 24/7 Free phone consultation Secure customer funds