16 Critical Things to Know About Buying in Portugal in 2024

Summary

In this interview, Kaylee discusses securing mortgages in Portugal for foreigners with Raphael, a top mortgage broker. Raphael explains that non-residents can secure mortgages with foreign income tax documents. He discusses current interest rates, the role of a mortgage broker, eligibility criteria, and the loan approval process. Raphael also covers the steps from pre-approval to securing a property, including legal representation and negotiation of terms. He advises on shopping banks for the best rates, the possibility of using mortgage funds for renovations, and selling properties with mortgages. Raphael emphasizes the current favorable conditions for foreigners seeking mortgages in Portugal.

Takeaways

• 😀 Non-residents and foreigners can secure a mortgage in Portugal using income from abroad without needing to pay income tax or hold a visa.
• 💡 Current mortgage rates in Portugal are around 3%, significantly lower than rates in the US, UK, or Canada.
• 📊 Mortgage brokers in Portugal, like Raphael, provide proposals from different banks, allowing clients to choose the best offer with no upfront fees.
• 🏡 The key eligibility requirements include proof of income, a minimum down payment of 20%, and a debt-to-income ratio that doesn't exceed 50%.
• 📅 The mortgage process typically starts with a one-hour video interview, followed by document submission, and pre-approval within a week.
• 🔒 Fixed-rate mortgages are recommended for better cash flow management, while mixed rates (fixed then variable) are also popular.
• 💼 After pre-approval, it's advisable to secure the property with a small deposit (around €2,000–€3,000), allowing time for bank approval and appraisal before paying the rest.
• 📑 A lawyer is crucial for assisting non-residents with the entire purchasing process, including opening a bank account, signing the deed, and paying taxes.
• 🏠 On a €250,000 property, expect to pay 20% (€50,000) for the down payment and 5% (€12,700–€13,700) for closing costs.
• 💡 Portugal has favorable conditions for both residents and investors, offering benefits like low annual property taxes and the ability to rent out properties, which can cover mortgage payments.

Q & A

Can a non-resident secure a mortgage in Portugal using foreign income?

Yes, you can secure a mortgage in Portugal using foreign income without needing to be a resident or declare income tax in Portugal. You need to provide documents like income tax forms, pay stubs, bank statements, and a credit report from your home country.

What are the current mortgage interest rates in Portugal compared to other countries?

In Portugal, the interest rates are around 3%, which is generally cheaper than in the US, UK, or Canada. The market expects rates to decrease in 2024 and 2025, but the rates are already fixed at around 3% by the banks.

What services does a mortgage broker provide in Portugal?

A mortgage broker like Raphael provides access to multiple banks, helping clients get various loan options based on their financial details. The broker assists throughout the mortgage process, from pre-approval to closing, without charging clients directly as they receive a success fee from the banks.

What are the key eligibility criteria for getting a mortgage in Portugal?

To be eligible for a mortgage, applicants must have at least 20% for a down payment and 5% for closing costs. Banks assess the debt-to-income ratio, so paying off existing debts can increase the chance of approval.

How long does the mortgage approval process take in Portugal?

The mortgage approval process generally takes about two months. This includes the initial pre-approval, appraisal, signing of the promissory contract, and finalizing the loan with the bank.

What types of interest rates are available in Portugal, and which one is preferable?

Three types of rates are available: variable, fixed, and mixed. The fixed rate is preferred for stable cash flow, though the mixed rate is popular, offering fixed rates for an initial period before switching to variable.

What should a buyer be mindful of when signing a promissory contract in Portugal?

When signing a promissory contract, it’s important to negotiate terms like allowing time for the bank’s appraisal and setting a smaller deposit initially. It's recommended to finalize larger payments only after the property appraisal is complete to ensure all documents are in order.

Is it necessary to have a lawyer when purchasing a property in Portugal?

Yes, especially for non-residents, it's recommended to have a lawyer to assist with the promissory contract, opening a bank account, certifying documents, and handling taxes and legal matters during the transaction.

What are the typical costs and expenses for purchasing a €250,000 property in Portugal?

For a €250,000 property, you’ll need a 20% down payment (€50,000) and around 5% for closing costs (€12,700 to €13,700), including taxes, mortgage fees, and other expenses.

Can someone sell their property in Portugal if they still have a mortgage on it?

Yes, a property with a mortgage can be sold. Upon closing, the bank will receive a portion of the selling price to settle the mortgage, and the remaining amount will be given to the seller.

Outlines

00:00

💼 Securing a Mortgage in Portugal as a Non-Resident

Kaylee interviews Raphael, a mortgage broker for foreigners in Portugal, discussing how non-residents can secure a mortgage. Raphael explains that non-residents can qualify for a mortgage by providing income tax documents from abroad (such as the 1040 in the U.S. or P-60 in the UK), along with pay stubs, bank statements, and a credit report. The conversation also covers interest rates, with Raphael noting that rates are currently lower in Portugal compared to the U.S. and other countries.

05:02

📈 Current Interest Rates and Mortgage Broker Services

Raphael shares insights into the current mortgage interest rates, which are expected to decrease by 1-2% in the latter half of 2024. He explains how banks in Portugal have preemptively fixed rates at around 3%. Raphael, an economist with 30 years of experience, describes his role as a whole market mortgage broker who helps clients by presenting various mortgage proposals from banks and guiding them through the process, without charging fees to the client.

10:06

🏠 Key Eligibility Criteria for Mortgage Approval

Raphael outlines the key criteria for securing a mortgage in Portugal, including having a steady income reflected in personal bank accounts, with a down payment of at least 20% and 5% for closing costs. He explains that banks use a debt-to-income ratio to determine approval. For instance, if a client’s mortgage payments amount to €2,000 per month, they should have a net income of €4,000 to maintain a 50% ratio.

15:08

💼 Mortgage Process: Start to Finish

The mortgage process begins with a one-hour video interview where Raphael explains various scenarios and requirements. Clients are then asked to provide basic documents such as passports, pay stubs, and credit reports. Raphael emphasizes the importance of pre-approval before property hunting and explains that the pre-approval process typically takes about one week.

📊 Fixed vs. Variable Mortgage Rates

Raphael discusses different types of mortgage rates in Portugal: variable, fixed, and mixed. He generally advises against variable rates due to market fluctuations, instead recommending fixed rates for better cash flow management. Mixed rates allow for a fixed term followed by a variable rate, with options to refinance or make partial amortizations at that point.

📑 Securing a Property and Signing Contracts

In Portugal, after finding a property, buyers typically sign a promissory contract and pay 10% directly to the seller. Raphael prefers smaller deposits initially (around €2,000 to €3,000) with a 15-day period to confirm bank approvals and appraisals. He advises negotiating a 45-day timeframe for bureaucratic processes, ensuring that all contract terms are carefully arranged to avoid losing deposits.

📝 Legal Representation and Documentation

Raphael strongly recommends that non-residents hire a lawyer to represent them during the property purchase process in Portugal. Lawyers can assist with signing contracts, opening bank accounts, certifying documents, and handling taxes and bureaucratic procedures. This ensures that all steps, such as paying taxes and closing the deal, are completed correctly and efficiently.

💰 Example Scenario: Costs for a €250,000 Property

For a €250,000 property, Raphael breaks down the associated costs: €50,000 for a 20% down payment and around €13,000 for closing costs (including appraisal fees, mortgage taxes, and property taxes). He emphasizes that while upfront costs can be significant, Portugal’s annual property taxes are relatively low, ranging from 0.3% to 0.45% of the assessed value.

📅 Mortgage Terms and Age Limits

In Portugal, mortgage terms are capped at age 75, with younger buyers (under 45) eligible for maximum terms of 30 years. Older buyers can still secure longer terms with larger down payments. Raphael encourages buyers to shop around as different banks offer varying terms, interest rates, and insurance requirements.

🏦 Why You Should Shop for the Best Mortgage

Raphael stresses the importance of comparing mortgage offers from multiple banks, as rates, terms, and conditions (like life insurance requirements) can vary significantly. As a mortgage broker, Raphael can navigate these options on behalf of clients, helping them secure the best deal.

🔨 Using Mortgage Funds for Renovation

Buyers can use pre-approved mortgage funds for renovation costs. For example, if approved for €200,000, a buyer could allocate €150,000 for the property purchase and €50,000 for renovations. Raphael advises obtaining a budget for renovation to submit to the bank, which will factor into the overall appraisal.

🏢 Investing in Commercial Properties

While mortgages for residential properties allow for rentals, Raphael notes that commercial property purchases follow a different credit line. Commercial mortgages typically come with shorter terms, higher interest rates, and larger down payments but are feasible for investors interested in leasing opportunities.

💸 Prepayment Options and Penalties

In Portugal, mortgage holders can make partial or full prepayments, though penalties apply. For variable rate mortgages, the penalty is 0.5%, while for fixed rate mortgages, it is 2%. Raphael provides an example: prepaying €10,000 would incur a €200 penalty under a fixed-rate agreement.

🏡 Selling a Property with a Mortgage

Homeowners can sell a property even if it’s still under mortgage. On the closing date, the sale proceeds are divided into two checks: one for paying off the remaining mortgage balance and the other for the seller’s net profit after settling the debt.

💡 Key Advice for Foreign Buyers

Raphael encourages foreign buyers to take advantage of the current favorable conditions in Portugal. He highlights the benefits of purchasing a property as a potential investment or retirement option, noting that buying a property can also support visa applications and eventual citizenship after five years of residency.

Keywords

💡Mortgage

A mortgage is a loan secured by real estate. It represents the primary focus of the video, as it discusses obtaining a mortgage in Portugal for foreigners. Raphael, the mortgage broker, explains the process of securing a mortgage with income from abroad without being a resident.

💡Interest Rates

Interest rates refer to the cost of borrowing money, expressed as a percentage of the principal. In the script, Raphael discusses current interest rates in Portugal, which are expected to decrease, making mortgages cheaper compared to other countries like the US, England, or Canada.

💡Pre-approval

Pre-approval is the initial approval for a loan based on a borrower's credit and financial information. Raphael emphasizes the importance of pre-approval, which allows potential property buyers to know how much they can borrow before starting their search.

💡Down Payment

A down payment is the initial portion of the purchase price of an asset, such as a house, paid upfront. The script mentions that a minimum down payment of 20% is required to enhance the likelihood of mortgage approval.

💡Credit Report

A credit report is a detailed report of an individual's credit history. Raphael mentions that banks will consider a credit report, along with other documents, to assess a client's eligibility for a mortgage.

💡Debt to Net Income Ratio

This ratio compares an individual's monthly debt payments to their net income. Raphael explains that Portuguese banks calculate this ratio to determine how much credit a person can be approved for, with a lower ratio indicating a better chance of approval.

💡Fixed Rate

A fixed rate mortgage is one where the interest rate remains constant over the life of the loan. Raphael discusses the benefits of a fixed rate mortgage, such as providing a predictable cash flow for the borrower.

💡Variable Rate

A variable rate mortgage has an interest rate that fluctuates with the market. Raphael mentions that variable rates are tied to the Euribor, which is similar to the Fed Fund in Europe, and are subject to change.

💡Mixed Rate

A mixed rate mortgage combines both fixed and variable interest rates. Raphael explains that this type of mortgage starts with a fixed rate for a certain period, after which it becomes variable, offering flexibility to the borrower.

💡Appraisal

An appraisal is a valuation of property. Raphael advises that after finding a property, one should get pre-approval and then sign a promisory contract, followed by an appraisal to ensure the property's value aligns with the purchase price.

💡Closing Costs

Closing costs are fees paid at the time of the closing of a property sale. The script provides an example of calculating closing costs for a property priced at 250,000, which includes taxes and other fees associated with the mortgage and property transfer.

Highlights

You don't need to declare income tax or be a resident in Portugal to access mortgage credit, just proof of income from abroad.

Portugal's current mortgage interest rates are around 3%, cheaper than in the US, UK, or Canada.

Anyone from any part of the world can finance a property in Portugal, as long as they have a stable income and meet a 20% minimum down payment requirement.

The debt-to-income ratio is key: monthly mortgage payments should not exceed 50% of your net income.

Pre-approval typically takes one week and requires documents like passports, income tax returns, pay stubs, and credit reports.

Banks in Portugal offer variable, fixed, or mixed-rate mortgages, with mixed being a popular option that starts with a fixed rate and becomes variable after a few years.

Lawyers are recommended for non-residents to handle legal and financial processes, including opening a bank account, certifying documents, and signing the closing deed.

For a property worth €250,000, expect 20% down payment (€50,000) plus around 5% in closing costs, including taxes and fees.

Portugal’s annual property taxes are relatively low, around 0.3% to 0.45%, based on the face value of the property documents.

There is an age limit of 75 years for mortgage applicants in Portugal, and the loan term decreases as the applicant’s age increases.

It’s important to shop around among banks for the best terms, rates, and flexibility regarding life insurance requirements.

Mortgages in Portugal can also cover renovation costs, provided a budget is presented to the bank for appraisal.

For commercial properties, higher rates and down payments apply, and the loan structure is different from residential mortgages.

Prepayment is allowed, but penalties apply: 0.5% for variable-rate loans and 2% for fixed-rate loans.

Foreign buyers are welcomed in Portugal, and having a property can ease the visa application process and contribute toward eligibility for citizenship after five years.

Transcripts

hi I'm Kaylee with xats everywhere and I sit  down with one of the top mortgage brokers for  

foreigners in all of Portugal I ask them the top  questions that you should know before getting a  

mortgage and what his clients commonly ask here's  what he says Raphael let's Jump Right In can I  

secure a mortgage in Portugal with income from  abroad and not being a resident here absolutely  

Kaylee you don't need to um declare income tax  in Portugal or uh be a resident in Portugal or  

have a Visa to access Credit here uh you just you  just need to show your income tax from abroad. In  

the US the 1040, in England the P-60, etc. Other  documents like pay stubs and bank statements the  

bank wants to make the bank reconciliation  of these amounts so uh Credit Report with  

these documents we can pre-approve you with the  banks uh and then you can start your search for  

properties here okay and what are the current  interest rates well the the Federal Reserve  

and the European Central Bank are the market is  expecting them to decrease rates in the second  

semester of 2024 and during 2025 so in 1% or 2%  uh anticipating this movement the banks already  

in Portugal had had already fixed the rates in the  level of 3% so it's much more cheaper than in the  

US or or England or Canada and are you a mortgage  broker for the entire Market or explain what a  

mortgage broker does what you do yes Kaye I am an  economist MBA with MBA Finance I've been working  

in the financial market for 30 years now I'm 50  I used to work for uh big companies I became an  

international treasury manager and because of  this job I live and work in several countries  

before Portugal from Argentina Brazil Colombia to  Belgium and now I'm I'm in Portugal in my seventh  

year here I have the license and the certified to  be a whole Market mortgage broker so I work with  

the main banks in Portugal based on the financial  details of the clients I give different proposal  

from the from these Banks the client will choose  one uh we will move forward of course me and my  

team will be beside the client and following  up the the client during all the process the  

process and after the deed we receive a success  fee commission from these VAR Banks so there is  

no money charged to the clients okay great and  what are some key criteria for eligible ility and  

what can increase someone's chances of approval  yes anyone from any part of the world can finance  

a property Portugal either having a regular job  with pay tubs or a company which distributes  

dividends prolor or profits on a monthly basis  this is very important uh in it has to be Credit  

in your in your personal checking accounts on a  monthly basis and a 25% of the purchase price 20%  

for down payment a minimum down payment of 20% and  5% for closing cost basically taxes to enhance the  

likelihood of approval uh it's important the banks  here will calculate the the debt to net income  

ratio so uh if you can pay off some uh some loans  on that you have with monthly with large monthly  

payments it will help you uh get more more credit  here okay uh let me give you an example of how  

the bank the banks will do this uh let's suppose  your reifax shows they do this in a monthly p in a  

monthly basis so let's suppose you pay per month  €1,000 uh your Equifax shows this that you pay  

$1,000 or equivalent in dollars for a mortgage  in the US and you're going to apply for another  

one for another 1,000 to give a a simple example  so it would be 2,000 per month to approve a 2,000  

per month payment I need a net salary of four so  this ratio of 50% is always so 4,000 or more to  

so it to not surpass 50% okay let's run through  the whole process from start to finish what does  

it look like sure uh usually I I initiate with  a 1 hour video interview with a client where I'm  

going to simulate mortgage scenarios I'm going  to explain all closing costs and taxes I'm going  

to answer all the questions the client might have  so everything you need to know before start start  

investing in the in the in the country then I  sent the list of documents that basically are six  

passports income taxes pay stubs bank statements  credit report score uh an employment verification  

L with these documents I can pre-approve you this  is very quickly in one week I can pre-approve you  

and and then you can start your search knowing how  much you can get with the bank so this is the best  

uh sequence the best steps are pre-approve first  and then search properties later okay what are  

typical terms and rates and a big question  is what's better here fixed or variable yes  

Kaye usually the banks can offer three types of  rates so it's uh variable fixed or mix it okay  

the variable is uh you be indexed to the riber  that is like the FED Fund in Europe uh so we'll  

be floating with the market uh with with economic  circumstances let's say so I don't I usually don't  

recommend this rate I would prefer the fixed rate  the fixed rate have a perfect perfect cash flow  

for the entire period so you can yourself it's a  little more costly but you can uh um have an idea  

of the Complete Cash Flow and today the mixed rate  a lot of clients are are asking for the Mixed rate  

where you have the fixed rate first for 2 three 5  10 15 years and then it becomes variable uh what  

you can do in this process in this process is um  when it becomes variable you can make a partial or  

total amortization with a lower penalty you can uh  try to shop the banks again to see if there is any  

other option in another bank and migrate to this  bank if necessary there are some cost to do this  

but we make the math and you see if it's worth  it uh and and you can also fix it again in a in  

a better rate in a can lock in with a better rate  in the future okay after pre-approval how does  

someone secure a property in Portugal okay usually  in Portugal um they sign they they ask you to sign  

a promisory contract against paying 10% directly  to the seller not to a nasc crew account so I  

don't like this Mo very very much uh and then  after that after signing the the contract they  

go to the to the banks for the approval and the  appraisal I would prefer that you first get the  

pre-approval with us then once you once you find  the property you sign the promisory contract with  

a small deposit like 2,000 3,000 a small deposit  uh and ask for a 15 days period until you can uh  

check with the banks everything and and make the  appraisal of the property after the approv report  

of the property then you can pay the remaining  10% because you need to know that all documents  

are in order before paying a large amount to to to  the seller okay of course you can put a clause to  

to get the reimbursement but I would prefer that  you pay later and then you have to ask for more  

45 days for all the bureaucratic uh Pro process  until to the end so in the end it will be like two  

a two- month process and you have to and you have  to negotiate these terms very well so when you put  

a when you put in an offer you just you just don't  show don't say just the the amount you're going to  

say my my offer is this I want 15 days for uh for  to have the appraisal then I will complete the the  

the the down payment and I need an extra 45 days  until the de if you don't negotiate these terms  

you might disobey if you disobey the the contract  you might be um in the risk of losing the the down  

payment okay so it's very important yes so in this  two month time frame do like from cpcv to signing  

the deed does someone need a person to represent  them during this Frame time frame mhm even if  

you are if you live in Portugal I would recommend  you to have a lawyer to to help you along the way  

but especially if you're a nonresident you need  someone to represent you here the lawyer has to  

do five important steps here first help help you  with a promisory contract uh inserting the Clauses  

to protect you Etc then open a bank account  here you're going to need a bank account here  

and Via power of attorney the lawyer will open a  bank account for you uh the CER certification of  

documents some banks will require certification  of documents or either you you apos this in the  

US or abroad or you use the lawyer it's much  more practical to use the lawyer uh more close  

to the deed the lawyer will go to the finances to  get the tax papers for the IMT the transfer tax  

and the stamp Duty for the for the the property  they do that they do this one one day before the  

closing because the papers they expire in 24  hours so on the following day the lawyer will  

be there you don't need to be there you can be  present but you don't need to and the lawyer will  

uh pay the taxes pay the deed sign the closing  and and leave with the keys and the documents of  

the property if you want to to put it to to start  renting right away you can do this or or the keys  

will be with the lawyer until you come and and  then you go to your new house yeah let's run an  

example scenario so let's say there's a property  250,000 what would be costs and expenses on that  

type of property perfect for two for the property  of 250,000 it's exactly 20% down payment plus 5%  

in closing cost basically taxes so 20% for down  payment will be 50,000 right uh the 5% I usually  

divide the closing cost into the mortgage closing  cost how much you spend to to get a mortgage with  

the bank and the property closing cost that you're  going to pay with or without without a mortgage if  

you pay in cash you're going to pay the proper  closing cost that that is the more salty part  

let's say uh mortgage closing cost around 1,000  for the appraisal and other fees and a stem Duty  

for the mortgage that is 0.6% of the loow on  amount so in this case 0.6% of 200 is 1,200 so  

mortgage closing cost 2,200 uh property closing  cost IMT if it's a a primary house is 7,500 if  

it's a secondary house 8,500 around that and you  have to pay another um another uh tax here that  

is the stem Duty for the property so it's 0.8% of  the purchase price so 0.8% of 250,000 is 2,000 so  

in the end closing cost will be 12,700 or 13,700  Plus the down payment okay so a large chunk right  

there at the beginning that you have to be mindful  of right yeah yeah the closing costs are expensive  

but and has not they they are they have nothing  to do with the annual property tax that is very  

affordable in Portugal for example the AL liqua  for anal property tax is 0.3% to 0.45% depending  

on the city and you don't pay on the selling price  let's say over you pay these on the based on the  

face value of the documents that usually are not  updated so uh probably for a 250,000 property  

you pay over 100 and then it to be like let's say  0.4% of 100 to 400 per year okay that you can pay  

with a 10% discount in the beginning of the year  or if it's a large amount you can split in three  

trenches one in the beginning of the year one in  the middle one in the end of the year and earlier  

you spoke about ages so is there an age group that  is or is not eligible to get a mortgage yeah the  

age limit here Kaye is 75 years old so let me give  you an example if you are 45 or or or younger you  

can benefit of the maximum term 30 years if you're  50 like me you have 25 years only but when you  

have more when you are more than 50 years old you  can and you give a and you give more down payment  

like 25% you can incre extend the the term in 5  years so it can go up to the limit of 80 years  

old okay but it depends on the bank so that's why  it's great to to shop the banks to to check the  

offers because they can give you different periods  different rates uh the need of of life insurance  

Etc okay so that leads me to my next question it's  better than to shop the banks or do all of them  

give the same rate oh for sure for sure you should  shop the banks because they can give you different  

uh scenarios different uh terms uh rates waver the  life insurance or not so it's very important to do  

this and if you go with us we can go directly to  these Banks we know the best banks already we know  

the best branches and managers to to help you and  then if someone gets a mortgage can they use that  

amount towards Renovations or is that separate it  it will be like this K let's suppose you approved  

for a certain amount with this preapproval you  start your search and then you can use the way  

you want for for example one US it Properties  or or or um new properties that are ready that  

has all the documents and and you can make the  closing right away or you can buy a property plus  

renovation so for example if it's 200,000 you can  use 150 for the house 50 for the renovation you  

can balance that you just have to uh show a budget  to the bank uh for the appraisal to to to check  

that and or or uh you can also uh buy land plus  construction from zero or if you have the land you  

can construct from zero up to 80% so um first get  the pre-approved then you can use the the money  

the pre-approved money the way you prefer okay  and do you help investors and those looking at  

commercial properties as well yes usually when you  buy from abroad you buy it as a secondary house so  

a secondary house uh you are allowed to explore it  as an investment so you can put you can uh start  

renting right away uh with no problem and then  the tenants will be covering the the the mortgage  

payments for you for commercial properties it's  a different credit line it's more like a leasing  

so it will be a shorter term higher rates and  higher down payment but it's also doable if you  

want commercial properties you also can do that so  you're able to do both yeah Kay sure do the banks  

allow prepayments yeah sure you can amortize uh  partially or totally at any time okay uh the only  

difference is that we have a little penalty here  so during the variable rate period you pay 0.5%  

as a penalty for over the amount you were early  paying if you are in the fixed rate you pay 2%  

so let me give you an examp an example if you are  early paying €10,000 you have to pay 10,000 plus2  

200 for for the penalty okay but you can do this  at any time and am I able to sell the property  

even if I still have a mortgage on it yeah  absolutely it will be exactly as if there is any  

any mortgage at all so you put it you you you you  hire an agency to sell the house on the closing  

date there will be two checks one will go directly  to the to your bank to finish to to pay off the  

the your mortgage and the other one will be will  be uh delivered to you on the closing with the net  

uh the selling price minus the the mortgage amount  okay so with the Surplus okay what's the biggest  

advice you would give someone who's interested  in purchasing a property in Portugal for the  

Foreigner to finance a property in Portugal the  banks are more accustomed to Foreigner papers  

they are they feel more more comfortable proving  forigners here so I think it's it's a great moment  

it's a window of opportunity because we never know  until when this conditions will remain so uh one  

advice would be either if you want to retire in  5 10 years or have a property for investment in  

Portugal we can buy this now and then start  renting need and and then with the with the  

renting cover your mortgage payment so this is a  a a thing that a lot of clients are are are doing  

other two tips are uh for the visa for example if  you uh when you apply to a Visa and you already  

have a property you have an address in Portugal so  it helps a lot because you have already invested  

in the company when you don't have a proper you  have to um show a leing of 12 months here in Port  

to go to to access this so it's money let's say  throw it out when you have a property you already  

have your address so helps the Visa I think  in my opinion uh and you also want to live in  

Portugal once you're a resident for 5 years you  can apply for the citizenship I think this is  

great and I don't think there's other country  that can do this but for sure Portugal is the  

the the best path the easiest path so uh if you  are planning to buy in the next six to 12 months  

you can schedule your your video interview with  me I will explain you everything in details to  

the client and and ask for the list of documents  pre-approve you and then you can start your search  

and find your proper import to great rapael thank  you for giving us a crash course on mortgages and  

if you would like to get in touch with Raphael  then email me at info@ xpats everywhere.com and  

check out right here what YouTube things you  should binge watch next now let's get moving