Portugal has become one of Europe's most sought-after destinations for property buyers — and not just for the weather. Between the Golden Visa program, the relatively affordable property market (especially outside Lisbon and Porto), and a welcoming banking system, buying property here as a foreigner is more accessible than in many other countries.
Can Foreigners Get a Mortgage in Portugal?
Yes. Portuguese banks lend to both EU citizens and non-EU nationals, including British, American, and Brazilian buyers. The key distinction banks make is between residents and non-residents, not necessarily nationality. Non-residents are typically offered a maximum Loan-to-Value (LTV) of 70%, while residents can access up to 90% LTV.
Key Eligibility Requirements
- Proof of stable income (employment contract or 2 years of self-employment tax returns)
- Debt-to-income ratio typically below 35–40%
- NIF number (Portuguese tax identification number)
- Portuguese bank account (most banks require this)
- Credit history from your home country
Documents You'll Need
Banks in Portugal require a standard set of documents. Preparing these in advance significantly speeds up the approval process. You'll generally need: passport or EU ID, last 3 months of payslips, last 2 years of tax returns, 3–6 months of bank statements, property deed or promissory purchase contract (once agreed), and proof of address.
How a Mortgage Broker Makes This Easier
Navigating Portuguese banking in a foreign language, with different administrative norms, can be overwhelming. A licensed mortgage broker compares offers from multiple banks, manages paperwork on your behalf, and ensures you're not overpaying. Since broker fees are often paid by the bank, not you, there's little reason not to use one.
Buying property in Portugal as a foreigner is absolutely achievable. With the right preparation and guidance, you can secure competitive financing and enjoy one of Europe's most beautiful countries — as a homeowner.