Getting a mortgage in Portugal follows a precise path. Each step depends on the one before, and a mistake at the start can cost weeks at the end.
Here are the 8 steps, what you do at each one, what we take care of, and the pitfalls that delay the most applications.
Click a step to jump straight to the details. A Portuguese term you don’t know? Check the glossary.
1
1 to 3 days
2
1 to 2 weeks
3
1 to 2 weeks
4
Depends on your search
5
About 1 week
6
Alongside the offer and the deed preparation
7
1 to 2 weeks
8
1 day
1
Step 1 · 1 to 3 days
It all starts with one number: the amount banks will actually lend you. It depends on two caps: a debt-to-income ratio of 45% maximum on your net income, and the share of the property that can be financed, up to 90% for a resident’s main home, usually 60% to 80% for a non-resident.
You describe your project, your income, your existing loans and your down payment.
We work out your real borrowing capacity, identify the banks suited to your profile and flag straight away anything that could block.
The pitfall to avoid
Looking for a property before knowing your budget. Many buyers view homes above their means, then lose the property for lack of financing.
2
Step 2 · 1 to 2 weeks
The quality of the application is the difference between a quick answer and weeks of back-and-forth. A complete file from day one is the most powerful time-saver in the whole process.
Don’t forget your NIF, the Portuguese tax number: you need it to sign the CPCV and the mortgage. If you don’t have one yet, we point you to the right way to get it remotely; outside the EU, you will usually need a tax representative.
You gather ID, tax returns, payslips or company accounts, bank statements, existing loans and proof of down payment.
We give you a list tailored to your profile, check every document and present your income in the terms each bank expects.
The pitfall to avoid
Sending incomplete documents, or untranslated ones when the bank requires a translation: every follow-up adds several days.
3
Step 3 · 1 to 2 weeks
We present your application to several banks in parallel. The pre-approval (pré-aprovação) sets the amount, term and conditions the bank is prepared to consider, even before the property is valued. Once pre-approval is granted, you open your account at the chosen bank: this is the account your monthly repayments will be taken from.
You compare the offers with us: rate, margin, insurance, fees and total cost. You then open your account at the chosen bank.
We negotiate the terms, recommend the best offer over the whole term, not just the headline rate, and arrange the account opening with the bank.
The pitfall to avoid
Comparing only the nominal rate. What counts is the APR (TAEG) and the total cost of credit (MTIC), insurance included.
In one call, we review your project and your next step.
4
Step 4 · Depends on your search
The CPCV (promissory purchase and sale contract) binds buyer and seller. A deposit (sinal) is usually paid on signing: if the purchase falls through for a reason not provided for in the contract, it can be lost.
You negotiate the price and sign the CPCV, in person or remotely.
We check that the price is consistent with the future valuation and that the CPCV timeline leaves enough time for the financing.
The pitfall to avoid
Signing a CPCV with no clause linked to getting the mortgage, or with a completion date that is too soon.
5
Step 5 · About 1 week
The bank appoints an approved valuer (avaliador) who visits the property and sets its value. The loan is based on the lower of two values: the purchase price or the valuation.
You pay the valuation fee; the estate agent or seller lets the valuer in.
We arrange the visit, follow the report and handle any gap between valuation and price with the bank.
The pitfall to avoid
Leaving no margin: if the valuation comes in below the price, the difference is added to your down payment.
6
Step 6 · Alongside the offer and the deed preparation
The bank requires mortgage life insurance (seguro de vida), which covers the loan in case of death or disability, as well as home insurance. You don’t have to take the bank’s policies: an external policy with equivalent cover can cost much less over the life of the loan.
You fill in the health questionnaire and send any medical tests the insurer asks for.
We compare the bank’s insurance with external offers, check that the cover is equivalent and build the insurance file with you, including when your health profile makes it more complex.
The pitfall to avoid
Accepting the bank’s insurance without comparing: over 25 or 30 years, the difference in total cost can be significant. Its cost should be compared from step 3.
7
Step 7 · 1 to 2 weeks
The bank issues the final offer with the FINE, the European standardised information sheet, which sums up the rate, the APR (TAEG), the total cost and the chosen insurance. The law requires a mandatory reflection period of 7 working days before you can accept it.
You review the offer and the FINE, then accept the proposal.
We check that the offer matches the pre-approval and includes the insurance you chose, then set the signing date with the notary.
The pitfall to avoid
Letting the offer’s validity date slip: it is limited in time, and the deed date must be planned accordingly.
8
Step 8 · 1 day
The purchase deed (escritura) and the loan agreement are signed on the same day, before a notary or an authorised professional. The bank pays the seller, the mortgage is registered, and you get the keys.
You sign in person or through a power of attorney (procuração), and pay IMT (property transfer tax) and stamp duty on the day of signing.
We prepare the signing with the bank and the notary, and remain your contact after completion.
The pitfall to avoid
Forgetting that IMT and stamp duty are paid on the day of signing, from your own funds, not from the loan.
| Step | Indicative timing | Remote? |
|---|---|---|
| 1. Review and real budget | 1 to 3 days | Yes |
| 2. Complete application | 1 to 2 weeks | Yes |
| 3. Pre-approval and bank account | 1 to 2 weeks | Yes |
| 4. Property and CPCV | Depends on your search | Yes, by power of attorney or e-signature |
| 5. Bank valuation | About 1 week | Yes |
| 6. Mortgage life insurance | Alongside the offer and the deed preparation | Yes |
| 7. Final offer and FINE | 1 to 2 weeks | Yes |
| 8. Deed and keys | 1 day | Yes, by power of attorney |
Indicative timings, which vary with the bank, the valuation and the seller’s schedule. Allow around 45 days on average between a complete application and completion.
A tailored list from the start, and every document checked before it goes to the banks.
Start the application at step 1, without waiting to find the property.
A file structured to each bank’s criteria, especially for foreign currencies and dividends.
Check the price is consistent before signing the CPCV, and keep a margin in the budget.
Set the completion date taking the bank’s and the valuation’s timelines into account.
Banks, notaries and agents use Portuguese terms. Here is what they mean.
| Portuguese term | What it means |
|---|---|
| Avaliação / avaliador | Property valuation, carried out by an approved valuer appointed by the bank. |
| Caderneta predial | The property’s tax record, issued by the tax authority. |
| Certidão permanente | Land registry certificate: owner, description of the property and any charges on it. |
| CPCV (Contrato-Promessa de Compra e Venda) | Promissory purchase and sale contract: it binds buyer and seller before completion. |
| Escritura | The purchase deed, signed before a notary or authorised professional on the same day as the loan agreement. |
| Euribor | The European interbank rate used as the reference for variable-rate mortgages. |
| FINE (Ficha de Informação Normalizada Europeia) | European standardised information sheet, provided with the loan offer to compare offers. |
| IMT (Imposto Municipal sobre as Transmissões Onerosas de Imóveis) | Property transfer tax paid by the buyer on purchase. |
| Imposto do Selo | Stamp duty, due on the purchase price and on the amount borrowed. |
| MTIC (Montante Total Imputado ao Consumidor) | Total cost of the loan: interest, fees and insurance included. |
| NIF (Número de Identificação Fiscal) | Portuguese tax number, required to buy, borrow and open a bank account. |
| Pré-aprovação | Bank pre-approval: an in-principle validation of your application, before the property is valued. |
| Procuração | Power of attorney: it lets a representative sign on your behalf. |
| Seguro de vida | Mortgage life insurance required by the bank: it covers the loan in case of death or disability. It can be taken out with an external insurer. |
| Sinal | Deposit paid by the buyer when signing the CPCV. |
| Spread | The bank’s margin, added to Euribor in a variable rate. |
| Taxa de esforço | Debt-to-income ratio: the share of your net income going to loan repayments, 45% at most. |
| TAEG (Taxa Anual Efetiva Global) | Annual percentage rate (APR), fees and insurance included. |
Around 45 days on average between a complete application and completion. Add the time to find the property if you start before finding it.
Yes. NIF, application, pre-approval, account opening and valuation are all handled remotely. Signing can be done through a power of attorney.
No. Starting earlier lets you get a pre-approval and make an offer with a solid budget.
No. It remains subject to the property valuation, final checks on the application and its validity period.
The bank lends on the valuation: the difference is added to your down payment, unless you renegotiate the price.
At completion, when the deed is signed at the notary, from your own funds, like the stamp duty on the purchase. You can estimate both with our IMT calculator.
One first conversation is enough to know your real budget and the banks suited to your profile.
