Duration and Age Portugal

Duration and Age

Regarding the age aspect, the financing culture in Portugal is different from that in the Netherlands. The maximum age at which a mortgage must be terminated is at age 75. This aspect has an impact on the maximum term and thus the feasibility of a mortgage application.

For non-resident buyers, maturities of 30 years are possible. In most Portuguese banks, the maximum term is 25 years.

The age at which a mortgage is applied for has an impact on the maximum amount that can be borrowed. This is because the maximum amount to borrow is lower when the monthly payments are higher. And monthly payments are higher with an annuity mortgage when the term is shorter.

Sometimes, for medical reasons, you do not succeed in obtaining death benefit insurance. Thus, if the bank requires death benefit insurance, it can be a showstopper for the mortgage. Contact us to discuss how to get around this problem.