Buying in Portugal as a British buyer

Very little on the lending side. Portuguese banks still lend to British buyers, and the mortgage products are the same. What changed is your status: a UK resident is now a third-country non-resident, which affects how much a bank will lend, how it treats your income, and how long you can stay in the property without a visa.

As a non-resident you should plan on financing between 60% and 80% of the purchase price or the bank valuation, whichever is lower. That means a deposit of 20–40% of the price, plus acquisition costs on top. Residents in Portugal can reach 90%, which is why buyers who are moving permanently often get materially better terms.

Banks accept sterling income, but they price the currency risk. In practice they recognise a reduced share of your gross income, which lowers your borrowing capacity compared with an identical euro salary. Bonuses, dividends and rental income are treated more conservatively still, and usually need two full years of history.

Your monthly repayment will always be in euros. If your income stays in sterling, budget for exchange-rate movement rather than assuming today's rate holds for 25 years.

Since 2026, property that will not be your primary residence is taxed at a flat 7.5% IMT rate. For a UK buyer purchasing a holiday home, that single line often outweighs the difference between two banks' rates. Add stamp duty of 0.8% on the purchase and 0.6% on the loan, plus notary and registration fees.

Run the full figure in the mortgage simulator before you make an offer.

• Passport and a Portuguese tax number (NIF) — both can be arranged remotely.
• Three months of payslips, or two years of SA302s and tax overviews if self-employed.
• Six months of UK bank statements.
• Proof of address and a statement of existing credit commitments.
• A Portuguese bank account for the repayments.

From a complete file, expect roughly two to six weeks to a formal offer and a few more weeks to the deed. The most common delay for British buyers is waiting on documents from the UK — accountant letters and tax overviews in particular. Start collecting them before you find the property, not after.

We are an independent credit intermediary registered with Banco de Portugal. We present your file to the main Portuguese banks at the same time, in English, and negotiate the full cost — rate, spread, insurance and fees. Our service is free for you: the bank pays our fee.