Key takeaways
Yes - non-residents can get a mortgage in Portugal. Every major Portuguese bank lends to foreign buyers. You need a NIF, a larger deposit than a resident, and the right documentation. With a specialist broker comparing 15+ partner banks at zero cost to you, you get the best available conditions without the guesswork.
Can Non-Residents Get a Mortgage in Portugal?
Absolutely. Portugal mortgages are open to foreign buyers, regardless of nationality or residency status. You do not need a visa, a residency permit, or any prior connection to Portugal.
What you do need:
- A Portuguese tax number (NIF)
- A larger deposit than a resident buyer
- A solid documentation package
The legal framework is clear. Decreto-Lei n.º 74-A/2017 governs all mortgage credit in Portugal and extends the same core consumer protections to non-residents as to residents. Banks simply apply a stricter risk assessment - which affects your LTV and rate, not your eligibility.
EU/EEA citizens typically get slightly more favourable terms than non-EU buyers. But non-EU nationals - including UK, US, Canadian, and Brazilian buyers - access the same market. The difference is graduated, not a hard barrier.
The right broker knows exactly which banks favour your profile. That is where the real advantage lies.
Non-Resident vs Resident Mortgage: Key Differences
The gap between a resident and a non-resident mortgage in Portugal comes down to four variables. Here is a clear comparison:
| Feature | Portuguese Resident | Non-Resident (EU/EEA) | Non-Resident (Non-EU) |
|---|---|---|---|
| Max LTV | 90–100% | Up to 80% | 70–80% |
| Minimum Deposit | 0–10% | 20%+ | 20–30%+ |
| Eligible Banks | All major banks | Most major banks | Select banks |
| Key Extra Documents | Standard | Foreign income proof, foreign bank statements, credit report | Same + possible apostille |
Important: The bank lends against the lower of the purchase price or its own independent valuation. If you agree €400,000 and the bank values the property at €370,000, a 70% mortgage equals €259,000 - not €280,000. Always budget for a potential valuation gap.
On top of your deposit, acquisition costs (IMT transfer tax, stamp duty, notary, and legal fees) run approximately 7–8% of the purchase price. These cannot be financed.
Eligibility Requirements for Non-Residents
Portuguese banks assess your full financial picture. The requirements are demanding - but entirely manageable with the right preparation.
Identity & Legal
- Valid passport (and national ID for EU citizens)
- Portuguese NIF (tax identification number) - mandatory, obtained before applying
- Proof of address in your country of residence
Income & Financial
- Last 3 pay slips (employed) or 2–3 years of tax returns (self-employed)
- Employment contract or proof of business activity
- 3 months of foreign bank statements
- Credit report from your home country
- Statements for all existing debts and loans
Property
- Promissory contract (CPCV) or property details for the bank valuation
Debt-to-Income Ratio
Banco de Portugal guidance sets a general ceiling of 45% of net monthly income for total debt repayments. Your existing mortgage or loans abroad count toward this limit.
Documents not in Portuguese, English, or French typically require a certified translation. Some banks additionally require an apostille on key documents. A broker tells you exactly which - so you do not pay for paperwork you do not need.
Portugal Mortgage Rates for Non-Residents in 2026
Mortgage rates in Portugal move with Euribor and lender policy. For current market context and rate guidance, see our best mortgage rates in Portugal guide.
Fixed vs Variable: What to Choose
Variable rate (taxa variável)
- Euribor (6-month or 12-month) + a fixed bank spread
- Typical spread for non-residents: 0.65%–1.00%
- Example: 12-month Euribor + 0.75% spread = the applicable variable rate at the time of signing
- Lowest rate today - but exposed to future Euribor moves
Fixed rate (taxa fixa)
- Rate locked for a defined period (5, 10, 15, 20 years or full term)
- Ideal if you earn outside the euro - payment certainty protects against currency risk
Mixed rate (taxa mista)
- Fixed for an initial period (2–5 years), then switches to variable
- The most popular structure in Portugal in 2026
- Predictable start, then market exposure once you are settled
Your final rate depends on Euribor, lender policy, your profile, and the property. A broker compares live offers across 15+ banks - the only way to confirm your actual rate.
Insurance can be tailored to your situation: life insurance may be waived depending on the lender and your profile, while property insurance is generally required. If insurance is needed, an external policy can be negotiated and may be more competitive than the bank's in-house product. Your broker can help arrange and negotiate these conditions alongside the mortgage.
Which Banks Offer Mortgages to Non-Residents in Portugal?
Several major Portuguese banks actively lend to foreign buyers. Here is what you need to know about each:
Novobanco
One of Portugal's largest banks and a leading lender for non-residents. Novobanco offers dedicated mortgage products for foreign buyers, with multilingual customer service and financing typically up to 70–80% LTV for non-residents. Known for transparent terms and a structured application process.
BPI (Grupo CaixaBank)
Part of Spain's CaixaBank group, BPI offers competitive fixed and variable rates. Maximum LTV depends on the borrower profile and property type; your broker confirms the applicable conditions.
Santander Portugal
A globally recognised name with an extensive branch network and English-speaking staff. Santander offers fixed and variable options with loan terms of up to 40 years, keeping monthly payments manageable. Well-suited to higher mortgage amounts.
Bankinter
An innovative, digitally-focused bank with competitive rates and strong online tools. Bankinter can finance up to 70% LTV for qualifying non-resident profiles and is known for a relatively fast pre-approval process - useful when you need to move quickly on a property.
CGD (Caixa Geral de Depósitos)
CGD is one of Portugal's largest banks and can offer up to 80% LTV for qualifying non-resident buyers. Final conditions depend on your income, profile, loan amount, and property.
Not every bank suits every profile. Nationality, income type, property location, and loan amount all influence which lender offers you the best deal. Comparing 15+ banks at once - rather than approaching them one by one - is the only way to find your optimal match.
Step-by-Step Process to Get Your Non-Resident Mortgage
The mortgage process in Portugal follows a clear sequence. Here is exactly what to expect:
- Step 1 - Obtain your NIF. Your Portuguese tax identification number (Número de Identificação Fiscal) is the first step. EU citizens can apply directly at any Finanças office. Non-EU citizens typically need a Portuguese tax representative.
- Step 2 - Get pre-approval (decisão prévia). Before choosing a property, get a mortgage pre-approval. Submit your full documentation package at this stage so the bank can confirm your borrowing capacity and indicative conditions.
- Step 3 - Find your property. Search with confidence, knowing your budget. When you find the right property, your broker can move quickly because the groundwork is already done.
- Step 4 - Property valuation (avaliação bancária). Once you have identified a property, the bank commissions its independent valuation. This valuation takes place before signing the promissory contract.
- Step 5 - Receive the formal mortgage offer (aprovação). The bank issues its binding offer: final rate, LTV, conditions, and term. You have a legally mandated reflection period before signing.
- Step 6 - Sign the promissory contract (CPCV). Once the formal mortgage offer is approved, you sign the Contrato Promessa de Compra e Venda and pay a deposit - typically 10% of the purchase price. Try to include a financing condition in the CPCV.
- Step 7 - Sign the deed (escritura). The mortgage deed and purchase deed are signed simultaneously at the notary. The bank releases funds. You receive the keys.
Realistic timeline: 6–10 weeks from formal application to approval. The exact timing depends on the bank, valuation, documentation, and notary availability.
Why Use a Mortgage Broker as a Non-Resident?
Navigating a foreign mortgage market alone is time-consuming, opaque, and costly. A specialist mortgage broker changes the equation entirely.
What a broker does for you
- Compares 15+ partner banks in a single process - you submit your documents once
- Knows which banks favour your nationality and income type right now
- Negotiates your spread - the broker's volume gives leverage no individual buyer has
- Manages the paperwork in Portuguese, from pre-approval to deed
- Costs you nothing - the broker is remunerated by the lending bank, not by you
The numbers speak for themselves
- 15+ partner banks compared for every client
- 98% of clients receive at least one mortgage offer
- 83% secure better conditions than their initial bank quote
What you avoid
- Approaching banks one by one, repeating the same documentation process each time
- Missing lenders who are currently more competitive for your profile
- Paying a higher spread because you negotiated alone
- Delays caused by paperwork errors or missing documents
An expat mortgage Portugal specialist does not just find you a loan. They find you the right loan - at the best available rate, with full support from NIF to notary.
You focus on finding your property. We handle the banks.
