Mortgages In Portugal
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Taxes in Portugal
You will have to apply for a fiscal number, (numero fiscal de contribuente), the equivalent of a UK national insurance number, from the local tax office. Your solicitor can arrange this for you.
Once all conditions as set out in the original contract have been met, the final deed is drawn up and signed by both parties at a public notary office (the notario). You must pay a transfer tax called IMT (imposto municipal sobre transmissões onerosas) before the purchase goes ahead.
- 0% to €80,000
- 2% - 6.5% thereafter
- 5% for land.
- If the buyer is in a low tax regime the rate is 15%.
Autarquica - annual municipal tax. The rates are based on valuations determined by tax authorities and as a general rule are much lower for older properties. The rates are fixed by each municipality 0.8% on land and 0.7% - 1.3% on buildings.
The notario will witness the signing of the final deed and the “escritura” is registered at (Conservatória do Registo Predial, the local land registry office, and at the local tax office (Repartição de Finanças).
| Lender | Max Loan | Rate | Bank Fee | Max Term |
| Barclays | 70% | 4.20% | 0.80% max | 30years |
| Banif | 80% | 4.25% | 565 € | 25 years |
| Millenium BCP | 65% | 4.50% | 500 € | 25 years |
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