As in line with most of Europe, if your chosen property is not being paid for in cash, it is possible to obtain a mortgage or re-mortgage through your banks at home, of which there are many who specialise in international property purchases. It is also worth remembering that when importing currency you can save thousands by using specialist currency companies rather than high street banks.
For those who have a Portuguese residency card (Cartão de Residencia), regular income and contract with an international or Portuguese company, it is also fairly straightforward obtaining a mortgage through a Portuguese bank (subject to the usual credit checks). Most Portuguese banks will lend between 70 and 90% of the property value based on a report by their chosen agent (Calculista de Obra/Superintendente de Vistoria/Avaliador). It is also important to remember that most banks charge for the mortgage application (about 1%) and the survey is included in this charge.
As in the UK there are many different options available when obtaining a mortgage, with fixed, capped and discounted schemes available, they can however be more restrictive with sometimes maximum repayment terms of 15 years. It is also necessary in Portugal to take out life insurance and in many cases a medical will be required.
We at Properties in Perfect Portugal have links with institutions in both the UK and Portugal that are willing to give their time and advice on appropriate funding options.