Portuguese mortgages for non-residents: what each bank publishes
A non-resident can get a mortgage in Portugal, but for a home that will not be their main residence Banco de Portugal caps the loan at 80% of the value, and some banks stay below that: BPI states 70% for non-residents, and UCI 70%. The table collects what seven lenders publish on their own websites, with the date we read each page; anything a bank does not publish is marked as such.
Terms the banks publish
Each bank works out its example on a different amount, term and loan-to-value, so the APRCs are not directly comparable across rows. “Not published” means the bank does not say it on its website, not that it will not do it: ask. Each bank's name opens the page we copied the figures from; the bank pages are in Portuguese, except UCI's.
| Bank | Maximum loan, main home | Maximum loan, second home or letting | Term and age at the end | Rate types | Bank's own example, variable rate | Non-residents and emigrants |
|---|---|---|---|---|---|---|
| novobanco checked on | Maximum loan, main home: not published | Maximum loan, second home or letting: 80% (second home or letting; residents and nationals of the EU, UK, Schengen, US, Canada) | Term and age at the end: up to 30 years; up to age 75 at the end | Rate types: variable, fixed | Bank's own example, variable rate: APRC 5.1%; rate 4.647% (12m Euribor + 1.40%); amount and term not stated | Non-residents and emigrants: dedicated product for non-resident foreigners |
| Banco BPI checked on | Maximum loan, main home: not published | Maximum loan, second home or letting: 70% (non-resident foreigners, second home) | Term and age at the end: up to 30 years; under 75 at the end | Rate types: variable, mixed, fixed | Bank's own example, variable rate: APRC 5.1%; rate 4.422% (6m Euribor + 1.5%); €150,000, 30 years, 70% loan-to-value | Non-residents and emigrants: foreigners resident in and nationals of the EU, UK, Norway, Switzerland, Iceland, US and Canada; second home or letting |
| Millennium bcp checked on | Maximum loan, main home: 90% (of the lower of valuation and price) | Maximum loan, second home or letting: 80% (second home or letting) | Term and age at the end: 40 years up to age 35, 35 years after; up to age 75 at the end | Rate types: variable, mixed, fixed | Bank's own example, variable rate: APRC 5.2%; rate 4.497% (12m Euribor + 1.25%); €150,000, 30 years, main home | Non-residents and emigrants: page for Portuguese living abroad; no separate terms published |
| Santander checked on | Maximum loan, main home: 85% of valuation, not above 90% of price | Maximum loan, second home or letting: 80% (second home; of the lower of valuation and price) | Term and age at the end: 40 years up to age 35, 35 years after; up to age 75 at the end | Rate types: variable, mixed, fixed | Bank's own example, variable rate: APRC 5.5%; rate 4.822% (6m Euribor + 1.90%); €150,000, 30 years, 80% loan-to-value | Non-residents and emigrants: emigrants: main or second home, online application |
| Caixa Geral de Depósitos checked on | Maximum loan, main home: 80–85% of valuation and up to 90% of price (the lower) | Maximum loan, second home or letting: 80% (second home) | Term and age at the end: 40 years up to age 35, 35 years after; up to age 75 at the end | Rate types: variable, mixed, fixed | Bank's own example, variable rate: APRC 4.9%; rate 4.272% (6m Euribor + 1.350%); €150,000, 35 years | Non-residents and emigrants: not published |
| Crédito Agrícola checked on | Maximum loan, main home: 90% (of the lower of valuation and price) | Maximum loan, second home or letting: 80% (second home or letting) | Term and age at the end: 40 years up to age 35, 35 years after | Rate types: variable, mixed, fixed | Bank's own example, variable rate: APRC 5.5%; rate 4.897% (12m Euribor + 1.650%); €170,000, 30 years, 80% loan-to-value | Non-residents and emigrants: from abroad, through the branch holding the account; in France, Luxembourg and Switzerland, through a representative office |
| UCI checked on | Maximum loan, main home: 70% of the price (non-residents) | Maximum loan, second home or letting: 70% of the price (non-residents) | Term and age at the end: up to 30 years; up to age 75 at the end | Rate types: variable, mixed | Bank's own example, variable rate: not published | Non-residents and emigrants: product exclusively for non-residents; most documents can stay in the original language |
What Banco de Portugal sets for every bank
The limits in Recomendação Macroprudencial n.º 1/2026 follow the purpose of the loan, not residence: up to 90% for a main home, up to 80% for anything else. The limit is measured against the lower of the price and the bank's valuation.
Repayments on all your loans, with the new one worked out at a stressed rate if it is variable or mixed, should stay within 45% of your net income. The term runs to 40 years if you are 35 years or younger and to 35 years after that. Each bank can be stricter: UCI, for example, speaks of a debt limit of generally 40% of monthly income.
What it costs, in figures
A second home at €300,000, a deposit of €60,000, a loan of €240,000 over 30 years, the buyer 38 years old. At the average rate on new housing loans in August 2026, 3%, the monthly payment is €1,011.85; tested at 4.5%, €1,216.05. To fit within 45%, net income must be at least €2,782.34 a month, counting stamp duty on the interest. The 3% rate is the market average; the non-resident offers in the table carry a higher rate (4.422% at BPI, 4.647% at novobanco), and the payment rises with it.
Before the deed, on top of the deposit: IMT of €22,500.00 at the 7.5% non-resident rate, stamp duty of €2,400.00 on the purchase and €1,440.00 on the loan, and €700.00 for registration at Casa Pronta. In all, €87,040.00 of your own money, before the bank's fees, valuation and insurance.
Documents and income
You need a Portuguese tax number (NIF). The rest depends on the bank and on where you live: UCI asks for your tax return, a credit report from your country of residence and bank statements for the last six months; novobanco publishes its own list only for UK residents: a Home Office share code, a full credit report and proof of income issued for HMRC.
If you are paid in a currency other than the euro, a euro loan is a foreign-currency loan (article 4 of Decree-Law 74-A/2017): the bank must explain the exchange-rate risk and warn you when the exchange rate pushes the debt or the payment up by more than 20% (article 20 of the same decree-law). novobanco itself writes that, for anyone living outside the euro area, exchange-rate swings can increase the amount to be paid in euros.
IMT for non-resident buyers
A non-resident buyer pays IMT at a flat 7.5%, with no exemptions, unless they have been treated as tax resident in Portugal before, under article 16 of the IRS Code (article 17(10) of the IMT Code). If they become resident within two years, the difference from the normal rate is cancelled on a request made within the following six months. There is a third route too: letting the home as a residence at a moderate rent, starting within six months of the purchase and for at least 36 months in the first five years.
How much will a bank lend a non-resident?
At most 80% for a home that is not a main residence, under the Banco de Portugal limit; in our table, between 70% and 80% at the banks that publish a figure for non-residents.
What interest rate does a non-resident pay?
On their pages for non-resident foreigners, novobanco and BPI publish examples with the rate: they are in the table; the other banks publish general examples. The average rate on new housing loans in Portugal was 3% in August 2026; in the non-resident offers, 4.422% (BPI) and 4.647% (novobanco), without linked products.