In our last conversation with Elena, CEO & Founder of RelyOn Relocation®️, we looked at interest rates and the higher down payment required for non-residents. Now let’s dive into the loan terms, documents, and coststhat come with a Portuguese mortgage when you don’t have residency.
Q: What kind of loan terms are available for non-residents?
Typically, banks allow repayment periods of up to 30 years. But there’s an important age rule: the loan must usually be repaid before you turn 75. So, if you’re 50, the maximum term available might only be 25 years.
Q: What documents do non-residents need to prepare?
The bank will ask for:
– A Portuguese tax number (NIF).
– Proof of income, such as salary slips or contracts.
– Bank statements for the past 3–6 months.
– A credit report from your home country. Having everything ready speeds up approval and shows the bank you’re serious.
Q: What are the main costs involved?
Expect:
– 0.6% stamp duty
– Property transfer tax (IMT), depending on value.
– Notary and registration fees (often €1,000–2,000).
– Bank fees for appraisal and opening the loan.
On top of that, budget for 2–3 months from application to keys in hand.
Q: That sounds like a lot of steps. How do clients usually handle the process emotionally?
It can feel heavy at first, especially across borders. But once clients see a clear checklist, the process becomes manageable. Many tell me they felt calmer once we broke it down step by step.
Non-residents face stricter rules, but with the right documents and planning, a mortgage in Portugal is realistic and achievable.
In the next part, we’ll switch perspectives: how the story changes if you already have Portuguese residency.Follow RelyOn Relocation®️ or book a consultation today — we’ll help you prepare documents correctly and avoid delays.
