Mortgages in Portugal for British

Part of the great charm of Portugal for British property buyers lies in the fact that Portugal boasts the best golf courses in Europe - and because the climate on the Algarve is almost perfect year round, Brits with homes in Portugal can enjoy golfing year round or indeed raise an income from renting out their Portuguese property for a large part of the year.

Now - mortgages in Portugal for British buyers can be quite difficult to come by!  If you have no credit history in Portugal, no banking presence locally and you’re still going to be remaining at least temporarily resident in the UK, the best way to raise the finance you require to buy your dream home or investment real estate may be to approach an international lender with both a presence in your own home country and in Portugal as well…in this article we look at how you can go about doing this.

First things first, it’s a well known fact that the less you need a mortgage the easier it is to get one – i.e., if you have a perfect credit history as well as a large sum of money in the bank, any banking institution in the world will bend over backwards to get your business! 

Unfortunately the vast majority of us have a less than 100% perfect financial record or bank account balance to allow us to fall into this category where banks are falling over themselves to help us – and compounding this effect when buying abroad is the fact that we often have little or no credit history in the nation in which we’re buying real estate.

What this really means is that ideally we will get a mortgage from a bank that understands our local financial situation in the UK whilst securing the home loan on the property in Portugal and basing all lending criteria on the Portuguese system because the bank in question also has a local presence in Portugal which can make the entire financial transition abroad - involving moving bank accounts, getting European credit cards etc., - also that much simpler.

The good news is that one bank in particular falls into this category and is hungry for new British mortgage business in Portugal – the bank in question is Barclays – and if you’re in a hurry to get your mortgage in place you can click here to request Barclays call you back to tell you all about the ways in which they can assist you.

So why choose Barclays Bank for your Portuguese home loan or real estate finance?   Well, this very well respected institution is registered in Britain for a start, and yet it also has over 20 years’ experience in the local Portuguese banking, mortgage and general financial services marketplace, it also have over 130 branches across the nation and staff who speak English and Portuguese and who understand the British and Portuguese mortgage systems as well as the buying process in each nation. 

These staff members have widespread practical experience of raising mortgages in Portugal for British purchasers, advising extensively on how the whole financial and property buying processes work in Portugal and are even able to relate the experience to the British buyer with reference to similarities and differences in the systems between the two nations and what’s more, they can also help you with every single financial aspect of your move to Portugal.

If you’d like to know more about the services Barclays offer in Portugal all you need to do is click here, complete your details and they will contact you with fully comprehensive information about all options open to you to help you buy that dream home or investment property in Portugal.