Mortgages in Portugal - BES

Banco Espírito Santo - BES, Portugal's third largest bank, now offers an innovative Non Residents Mortgage Service especially designed for those in UK and Ireland interested in buying properties in Portugal.

BES provides competitive mortgages in euros secured on the property in Portugal. Our aim is to offer the best conditions in the market and a guaranteed level of service.
(commercial decision in two days when the mortgage application is complete).

Why BES?

Experience
With more than one century of history, BES is a solid brand name in Portugal. The tradition of an excellent relationship with customers is one of the most recognizable attributes of the bank.
- Know-how BES has a track record of delivering an excellent level of service and extremely competitive solutions.

Network
BES has more than 600 branches across Portugal and a vast experience of dealing with international clients, including in UK and Ireland.

Services
BES Group comprehends multi-service companies, providing a complete package of local solutions, from tax advisory to security and health services.

Customers wanting to buy second/holiday property in Portugal

Term
Up to 30 years
Applicants can't be over 80 at the term of the mortgage

Interest Rate
Euribor + spread 0.85% (not variable with Loan to Value )
Euribor 6 months

Typical 5.46% APR variable
(over a 30 years loan)

Amounts
Minimum 75.000€
Maximum- 75% of property valuation
Currency available - Euros

CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT

Fees
Handling fee- 550€
Property Valuation fee- 175€
Redemption- Sums paid in advance to reduce debt - 0.5%

Security
The loan will be secured by a [first] mortgage over the Portuguese property

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Insurance
Life insurance- Not requested
House insurance- obligatory