We work closely with the Banco Comercial Português (BCP), which is the largest private bank in Portugal, to help customers increase their return on investment. Working closely to understand customers’ drivers, the BCP takes care of the details involved in buying a property in Portugal to ensure the process is as smooth as possible and generates the best possible return.
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BCP can arrange mortgages for Portuguese properties, both for individuals or companies, from a minimum of €150,000. While there is no maximum mortgage limit, the loan must not exceed 75% of the property valuation or purchase price (whichever is lower). Repayment terms vary from 5 to 30 years for investors or borrowers up to 70 years old and can be given in Euros, Sterling or other major currency. BCPs fees are variable but buyers are recommended to allow for 1% of the mortgage amount, around €250 for the valuation fee and an additional sum for registering the lender’s interest with the land registry.
Lenders determine how much you can borrow by taking into account your financial situation, assessing the value of the property and your net monthly income. In order to borrow, you must be able to cover your existing liabilities and BCP will require proof of income which may or may not include earnings, pension, investment or rental income.
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