Portugal vs UK Mortgages

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Read about the real estate market in the Algarve, Lisbon and Portugal. As the leading estate agents on the Algarve and in Portugal we can help you find property for sale in Portugal and find a mortgage.

May 25, 2021

Not only are we lucky enough to have the best weather, best food and wine, we now have amazing interest rates too.

For many years foreigners have looked at regions like the Algarve to spend some time with family and friends enjoying our atmosphere. Taking in the sunshine either on a clean beach or on our various world class golf courses, the sunshine has been a major attraction for UK residents. Leaving the rainy weather and grey skies the Algarve has been number one destination year after year.

Now you have another reason to visit our shores........the low interest rates.

Currently the interest rates in the UK vary between 3.54% and 4.8% and up to a couple of years ago it looked as if we could not compete with these in Portugal. How time has changed, and now we can look at these and think to ourselves why, why do people pay so much.In Portugal offer rates of as low as 0.7%.......that's correct 0.7%.

How do we get this done you might ask......simply reach out to us at Ideal Homes Mortgages and we will guide you through the process. With our professional staff we will not only find you the 'Ideal' property but also arrange a mortgage at any of the major banks in this wonderful country.

Starting the process takes a simple completion of an enquiry form that gets delivered to the banks and a purchase price is determined along with the lowest rate possible. This takes around 3-4 days and you receive a pre approval that indicates your monthly instalments and a knowledge that you have a mortgage until the year you turn 78. The complete process will take around 4-6 weeks and we will accompany you during this process in order to complete a positive and successful venture.

So whether you are looking at investing, relocating or retiring, reach out to us at Ideal Homes and let us help you create your perfect home for you and your family.

To book your FREE consultation with a registered mortgage broker, get in touch with the experts on info@idealhomesmortgages.com today to start the application process, or give them a call on +351 289 513 434.

Written by Jose Mendonça

jose@idealhomesmortgages.com