PORTUGAL MORTGAGE FOR NON-RESIDENT PORTGAL LOAN FOR FOREIGNER FOR EXPATRIATE RETIRED FOREIGNERS FIXED RATE VARIABLE RATE
In Portugal, a loan for non-resident foreigners and expatriates is defined as a lending option Portuguese soil that is granted by a Portuguese bank or loan broker to a person who does not have Portuguese citizenship and who wishes to borrow money.
In Portugal, a mortgage loan for foreigners who are non-resident is provided though Portuguese banks also to expatriates and retired loan applicants under certain conditions, applying fixed and variable interest rates.
Portuguese loans for foreigners or expatriates are of course possible in Portugal whether it is a Portuguese consumer loan or a mortgage that will allow to acquire a Portuguese property in the country following a loan to value (LTV) ration of maximum 70 % which requires a down-paymenet of 30% of the property value.
Portugal like every country imposes on Portuguese banks and Portuguese lenders prudent rules regarding loans, so foreign borrowers in Portugal in addition to proving that they will be able to repay a loan as a Portuguese borrower would, they will also have to prove that 'they are legally resident in Portugal through a Portuguese residence permit.