Updated 8 November 2026 · By Amandine Sousa
Short answer: choose a mortgage broker (credit intermediary) that is registered with the Banco de Portugal, works with several banks, explains in writing who pays them and has experience with your profile (resident, non-resident, foreign income…). Check all of this before you send any documents. It takes 5 minutes on the Banco de Portugal website.
Thousands of credit intermediaries are registered in Portugal. They don’t all work the same way, with the same banks or with the same type of client. For foreign buyers, the choice matters even more: Portuguese banks treat non-residents and foreign income very differently from one another. This guide shows what to check, the questions to ask on your first call and the warning signs.
1. Is the broker registered with the Banco de Portugal?
This is the first criterion and the only one required by law. Acting as a credit intermediary in Portugal requires authorisation and registration with the Banco de Portugal (Decree-Law no. 81-C/2017). Without it, nobody can present mortgage offers to you on behalf of a bank.
How to check: search for the name or registration number in the Banco de Portugal’s official list of credit intermediaries. Each entry shows the category, the banks the intermediary works with and the types of credit covered.
2. Is the broker tied or not tied?
Portuguese law sets out different categories of credit intermediary. The category determines who they work with and who pays them:
| Tied intermediary | Non-tied intermediary | Going directly to a bank | |
|---|---|---|---|
| Works with | One or several banks it has a tied-agent contract with | No tied-agent contract with any bank | That bank only |
| Paid by | The banks (free for the client) | The client | — |
| May call itself “independent” | No | Yes | — |
| Compares offers | Across its partner banks | Yes | No |
Neither category is “better” in absolute terms. What matters is knowing which one your broker belongs to and what that means for you.
3. How many banks does the broker work with?
The more banks, the more offers can be compared, and the better the chances of finding a bank that accepts your profile. This is decisive for non-residents, self-employed buyers and anyone with income in several currencies: Portuguese banks have very different rules on minimum deposit, accepted income, maximum age and holiday or tourist-use properties.
Ask: “Which banks will you approach for my application?” The answer should match the list shown in the broker’s Banco de Portugal entry.
4. Who pays the broker, and how much?
The broker must tell you, in writing and before providing the service, what you will pay and any costs you will bear. The rules are clear:
- a tied intermediary can only be paid by the banks it has a contract with;
- a non-tied intermediary can only be paid by its clients.
Note: no credit intermediary is allowed to receive or hand over money related to the loan, such as your monthly instalments. Instalments are always paid to the bank.
5. Does the broker know your type of project?
A broker used to local buyers with a Portuguese salary does not work the same way as a specialist in:
- non-resident buyers (deposit required, translated documents, NIF, remote signing);
- foreign or multi-currency income, dividends, holding companies;
- holiday homes and tourist-use properties, which each bank finances on its own terms;
- buyers aged 35 or under (public guarantee, IMT Jovem).
Ask how many applications similar to yours they have handled, and in which languages they work.
6. What do clients say?
Favour verifiable reviews (Google, independent platforms) over testimonials published only on the broker’s own website. Also judge the first contact: speed of reply, clarity of explanations, a written list of the documents you need.
Questions to ask on your first call
- What is your Banco de Portugal registration number?
- Are you a tied or a non-tied intermediary?
- Which banks will you compare for my application?
- Who pays you, and will I pay anything?
- Have you handled clients with a profile like mine?
- How long does it usually take to get to approval and to the deed?
- Will you compare the APR (TAEG), insurance and fees, not just the interest rate?
Warning signs
- The broker doesn’t appear in the Banco de Portugal list, or the registration number doesn’t match.
- They ask you for money “to secure approval” or to pay instalments.
- They promise guaranteed approval before reviewing your documents.
- They call themselves “independent” without being a non-tied intermediary.
- They pressure you to accept an offer without time to compare.
How SpreadHunters meets these criteria
For transparency, here is where we stand on each criterion. You can check it in our Banco de Portugal entry.
| Registration | Banco de Portugal no. 0006447 (Spreadhunters, Unipessoal Lda) |
| Category | Tied credit intermediary, non-exclusive |
| Partner banks | BPI, Caixa Geral de Depósitos, Bankinter, novobanco, Santander, UCI |
| Fees | Paid by the banks: €0 for the client |
| Specialism | Residents and non-residents, foreign income, holiday homes and tourist-use properties. 500+ clients, 95% international |
| Languages | English, French, Portuguese and Spanish |
Get a free assessment of my project →
Frequently asked questions
Do I need a mortgage broker to buy in Portugal?
No. You can apply directly to a bank. A broker is useful to compare several banks, prepare the application and negotiate terms, especially for less common profiles (non-residents, self-employed, foreign income).
Do I pay the mortgage broker?
It depends on the category. A tied intermediary can only be paid by the banks it has a contract with, so the service is free for you. A non-tied intermediary is paid by the client. Any price and costs must be given to you in writing before the service starts.
How do I know a mortgage broker in Portugal is legitimate?
Search for the name or registration number in the Banco de Portugal’s official list of credit intermediaries. The entry shows the category, the partner banks and the types of credit covered.
Can a non-resident use a mortgage broker in Portugal?
Yes. Portuguese banks lend to non-residents, usually with a higher deposit and a closer review of income. A broker experienced with non-residents knows which banks accept your profile and which documents to prepare. Read our guide for non-residents.
Will a broker always get a better rate than the bank?
It’s not guaranteed. Brokers often obtain better terms than a client would alone, because they compare several banks and know the current campaigns. Always compare the APR (TAEG), insurance and fees, not just the interest rate.
Can I pay my instalments to the broker?
No. Credit intermediaries are not allowed to receive or hand over money related to the loan. Instalments are always paid directly to the bank.
Read also: Why work with a mortgage broker in Portugal · The steps to getting a mortgage with a broker · Mortgage in Portugal: complete guide
