Portugal Mortgages from UK Lenders

Gradually Portugal’s property market is coming to the attention of more UK lenders so Brits can get mortgages in Portugal

Portugal is not the most popular property marketplace in mainland Europe for British buyers despite the fact that there are many well established expatriate communities in Portugal – particularly on the Algarve and now increasingly on the Silver Coast.  What this generally meant in the past was that the Portuguese property market was overlooked by many UK based lenders which once made it difficult for British buyers seeking mortgage advice and direct and practical assistance.

Thankfully Portugal mortgages from UK lenders are now more widely available and if you’re keen on making a purchase of real estate in Portugal this article introduces you to the main British lender which is very active in Portugal’s mortgage marketplace and which can potentially present you with a broad range of mortgage types, terms and offers.

Barclays Bank took it upon itself to become one of the leading lenders for British buyers purchasing property in mainland Europe - specifically in the countries of Spain, Portugal, Italy and France.  As a result Barclays has the competition all but beaten with its scope, its range of products and its out and out competitive edge and if you’re seeking Portugal mortgages from UK lenders, chances are you should be looking at what Barclays can offer you. 

The reason why this leading British based international banking institution took it upon itself to fill a gaping hole in the international mortgage market specifically for British real estate buyers was because Barclays was well aware that the British have something of a love affair with property, that they also seek homes overseas in locations that are within easy reach but which offer them something more in terms of climate guarantees for example and that also British people take more confidence from approaching the buying and lending process abroad through the medium of English.

As a direct result of all of these factors, 20 years ago Barclays began operating in Portugal.  The bank now has 130 branches across the nation and it offers more and more UK based buyers the chance to buy property in Portugal in euros and through the medium of English - providing the best of both worlds.  I.e., a mortgage in the local currency so that exchange rate risk is eliminated and a mortgage in English so that nothing critical is lost in translation.

If you’ve found an ideal property in Portugal already you can theoretically borrow up to 70 or 80% of the property’s value from Barclays - or if you’re not sure how much you will have to play with and you want to know more before you begin searching for a home in the sun you should really get in touch with Barclays and talk to them about your borrowing needs.

You can click here to contact Barclays, complete their application form and a representative will call or email you full details of the broad range of services they offer in Portugal for British people – such as their Portugal mortgages, their Portuguese bank and savings accounts and even their free guide to buying in Portugal which can help you make the right decisions and get well informed before you even travel to Portugal to view real estate.