Mortgage in partnership with Banif - Banco Internacional do Funchal  are  happy to offer your a mortgage for NON - RESIDENTS. If you need a mortgage to buy a holiday home or just need to open bank account, you're always welcomed at our office in Albufeira. Here you can get information on products and services offered by our partner bank, obtain help with your mortgage application, submit you application and be always informed of it's progress. This service is free.

Banif Mortgage Loans for Foreign Property Buyers - the easiest way to buy your house in Portugal

Thinking for those interested in buying a property in Portugal, Banif - Banco Internacional do Funchal provides mortgages for non-residents. We have a wide variety of options, both from a financial point of view as well as regarding purposes: acquisition, construction, stage payments for specified developments, equity release and remortgages.


Banif was one of the first Banks in Portugal to offer a vast range of banking facilities and products developed exclusively for foreign clients wishing to purchase permanent or holiday homes in Portugal.


A unique new structure has been created by Banif specializing in mortgage loans for non-residents aiming to provide the best service to foreign clients acquiring a house in Portugal, certainly a pioneer in this concept.

Why choose Banif Mortage Loans?

One of the first Banks in Portugal to launch a range of mortgage loans specially designed for non-residents.

A wide variety of options from a financial point of view and mortgage solutions.

- Highly competitive rates.

- A representative Office in London.

- Personalized service provided by our team of specialists in this field.

- Recognized for high service standards within Banking Industry.

Common Characteristics

Some characteristics are common to all types of loans:

- loans available in euros;

- interest rates are variable and correspond to Euribor (3 or 6 months)  plus a very competitive spread that varies according to the type of loan and the LTV;

- installments are due monthly;

- Highly competitive spreads.

- Life insurance is recommended but not mandatory for LTV´s under 80%.

- Building insurance is required.

The LTV (loan to value ratio) is a key feature of all mortgage lending. It is calculated dividing the loan amount by the valuation of the property.

Terms of Mortgage

If you want to buy a house in Portugal, Banif is your ideal partner. Our home loans have been designed to offer you the best repayment terms and also the solution best suited to your needs.

For details on obtaining a mortgage with Banif, please, contact member of staff or just walk in to talk to our office in Bela Vista. Below are some guidance details of standard morgage for buying a house or an appartment for non-resident. But note, there are many more financial products available. So, please, do come for a free help and support.



Mortgage finance for buying a home.

Who´s it for?

Personal customers, registered with the Portuguese tax authorities who are neither Portuguese, nor permanently resident in Portugal, whose income is mostly obtained from Western European countries or North America and who are nationals of theses countries.

What can I borrow?

Minimum: 50.000,00 Euros;

Maximum: 80% of the value of the property. (65% for Eastern Europeans)

Repayement period

Minimum: 5 years.

Maximum: 30 years, with an age limit of 75 years at the end of the period.


Monthly, comprising principal and interest.

Interest Rates

Indexed to the EURIBOR 3 or 6 month rate (average of daily rates of the month prior to signing the contract, on a 360 day basis, rounded off to thousandth), adjusted every three or six months, respectively.

Interest calculated on a 360 day basis.

The spread varies depending on your loan-to-value and on how much you borrow.

Early repayments

Penalty of 0,5% of balance repaid.


First mortgage of the property. When justified, financial investments may be offered as alternative security.


Life insurance (for all borrowers, or alternatively for the borrower with the highest earnings; in the case of more than one married couple, insurance is required for at least the highest earning spouses) and comprehensive insurance, all to be taken out with CSA. Insurance with other companies is accepted, provided it meets the requirements.

For a LTV up to 80%, life insurance is optional

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