Moving to Portugal: Buying Property and Getting a Mortgage Remotely, Explained
What if you could own property in Portugal… before even moving there?
Whether you’re planning your retirement in the sun, making a smart investment, or preparing for a permanent move, many expats today are choosing to take the plunge remotely. The good news: buying before you arrive is entirely possible — as long as you’re well supported.
With the help of a real estate agency specializing in expat relocation and a mortgage broker experienced in international financing, this process becomes far simpler than you might think.
Buying Property Remotely: Is It Really Possible?
The answer is yes. Thanks to digital tools, electronic signatures, and trusted local partners, it’s now common to select a property, sign a preliminary contract, and even secure a mortgage — all without leaving your home country.
At Spreadhunters, we regularly assist clients before they even set foot in Portugal. We simplify every stage of the process, from initial simulations to signing the final deed at the notary’s office.
How Do Mortgages Work in Portugal?
Mortgage conditions in Portugal are quite different from what you might be used to. Interest rates can be:
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Fixed: stay the same for the entire loan term
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Variable: usually indexed to the 6- or 12-month Euribor, plus a margin (spread) set by the bank
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Mixed: fixed for an initial period (often 2 to 10 years), then variable thereafter
Loan terms typically range from 7 to 35 years, with a maximum age limit of 75 at the end of the loan.
Portuguese banks usually require a down payment of 10% to 30% of the purchase price, depending on the borrower’s profile (resident or non-resident) and the type of property (primary home, secondary residence, or rental investment).
Financing is generally capped at 70% to 80% of the property’s valuation (Loan-To-Value, or LTV), which may be lower than the purchase price if the bank’s valuation is more conservative.
The Process for Non-Residents
Applying for a mortgage remotely requires gathering several key documents, such as:
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A valid passport
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A Portuguese tax identification number (NIF)
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Proof of income (pay slips, annual accounts, tax returns)
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Recent bank statements
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A credit report from your country of residence (e.g., FICO, Experian, Banque de France, etc.)
Working with an experienced mortgage broker can make the process much smoother.
Your broker will:
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Act as a liaison between you and multiple partner banks
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Prepare a loan file that meets the expectations of Portuguese lenders
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Optimize how your income is presented and address potential red flags upfront
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Monitor timelines to ensure your loan is approved on time
A Different System, But Still Accessible
The Portuguese mortgage system has some notable differences. Unlike countries like France, where fixed rates are standard, variable rates are still common in Portugal. Bank requirements for guarantees, insurance, and down payments also vary between lenders.
That’s why it’s highly recommended to work with professionals who know the local system — especially when buying remotely.
Differences Based on Your Country of Residence
Mortgage conditions in Portugal also depend on your country of residence. Portuguese banks adjust their requirements for documentation, income assessment, and currency conversion depending on your nationality and where you live.
For example:
EU Residents
The process is typically straightforward. Portuguese banks are used to working with EU nationals, making document requirements relatively standardized: payslips, tax returns, and bank statements.
US Residents
American borrowers face additional requirements due to regulations like FATCA (Foreign Account Tax Compliance Act). Lenders usually request:
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A credit report (e.g., FICO Score)
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Proof of tax compliance
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Sometimes specific declarations such as forms W-9 or W-8BEN
UK Residents
Since Brexit, the UK is treated as a third country. British borrowers may face:
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Increased scrutiny over the source of funds
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Stricter income assessments, especially for self-employed or freelance borrowers
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Requests for residency or immigration documents if partially residing in Portugal
These differences highlight the importance of tailored support. An experienced broker can help you navigate these complexities, meet specific lender requirements, and maximize your chances of getting favorable financing.
The Key? Surround Yourself with the Right Partners
To ensure your remote property purchase runs smoothly, choosing the right partners is crucial — especially when you’re learning a new financial system.
The partnership between Unyk Place and Spreadhunters makes all the difference.
On one side, Unyk Place helps you find a property that matches your lifestyle, preferences, and timing. On the other, we help you build a strong mortgage file that meets Portuguese banks’ expectations. From document translation to optimized income presentation and timeline management, we cover every detail.
Ready to Buy Before You Arrive? Let’s Talk!
Whether you’re still in the planning phase or ready to take action, now is the right time to learn more.
With the right partners by your side, your property project in Portugal can become a reality faster than you imagined.
Portugal is waiting — and we’re here to help you make the move.