Portuguese Mortgage Calculator

Estimate Monthly Repayments and Purchase Costs For Buying Property in Portugal

Portuguese Mortgage Interest Rates

Portugal continues to offer competitive mortgage rates for international buyers, making it an appealing choice whether you’re purchasing a family retreat or an investment property. Rates can vary depending on your residency status, financial profile, and chosen lender.
Below are some example scenarios for a €500,000 mortgage amount, to give you an idea of what to expect:

Max LTV (Term)

Estimated Rates From*

Estimated Monthly Payments**

70-80% (30 years)

2.9% Variable

€2,081

70-80% (25 years)

2.9% Variable

€2,345

70-80% (30 years)

3-4% Fixed

€2,108 – €2,387

70-80% (25 years)

3-4% Fixed

€2,371 – €2,639

* Interest rates for May 2025. ** Based on €500,000 mortgage amount. Actual rates and repayments will depend on your personal situation and the lender’s criteria. Monthly payments are rounded to the nearest euro.

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Portuguese Mortgage FAQs

Can foreigners get a mortgage in Portugal?

Yes, foreigners/non-residents can get a mortgage in Portugal, typically financing up to 60-80% of the property’s value, depending on the lender, the applicant’s main residence and individual financial profile.

Can UK citizens get a mortgage in Portugal?

Yes, UK nationals can apply for a Portuguese mortgage as non-residents. Despite Brexit, they are still treated the same as EU residents and can get LTV ratios of up to 80%.

How much can I borrow as a non-resident in Portugal?

Generally, non-residents can borrow up to 60-80% of the property’s purchase price. The exact amount depends on your income, existing debts, and the lender’s criteria.

What deposit do I need for a Portuguese Mortgage as a non-resident?

A deposit of 20-40% of the property value is typically required for non-resident buyers. This amount is dependant on the LTV specifically available to the non-resident’s country of main resident. Additional funds are needed to cover closing costs and taxes.

Are Portuguese mortgage rates fixed or variable?

Both fixed and variable mortgage rates are available in Portugal. Fixed rates offer payment stability, while variable rates are linked to the Euribor index and fluctuate over time. For more detailed information rates please refer to our Portuguese Mortgage Interest Rates section.

What documents are required for a mortgage in Portugal?

Key documents include a valid passport, Portuguese NIF (tax number), proof of residence, credit history reports, income verification (payslips, tax returns), and bank statements. A preliminary sales agreement is also essential. For more information please refer to our Documentation for Portuguese Mortgage section.

What are the risks or pitfalls of buying a property in Portugal?

Common pitfalls include not understanding legal procedures, underestimating taxes and fees, and not optimising foreign exchange. Working with experienced advisors like Worldwide Property Company helps avoid these costly mistakes.

How long does approval take for a Portuguese mortgage?

Mortgage approval times vary but typically range from 4 to 8 weeks, especially for non-resident applications.

What is the minimum mortgage amount in Portugal?

Minimum mortgage amounts vary, but many banks won’t lend less than €100,000. This ensures the loan is commercially viable for the lender.

How long does the mortgage approval take in Portugal?

It can vary depending on your documentation, which we help structure and organise in an efficient way to present to the lenders for faster approvals. Typically, mortgage approvals take 4 to 6 weeks once all documents are submitted.

Are there property taxes in Portugal?

Yes. Owners pay annual property tax (IMI), which varies by municipality and is based on the property’s taxable value. In addition, a higher-value property tax (AIMI) applies to residential properties above €600,000 (€1.2m for couples).

Do I need a Portuguese bank account?

Yes, having a Portuguese bank account is essential as you will need to use the same account for your mortgage and other property-related expenses, such as utility bills and taxes.

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