Mortgage rates Portugal: what does the fixed rate cost non-residents?
From our own, ongoing bank survey — with and without the discounted (bonificação) rate. Portuguese banks lend non-residents up to 80%.
What are current mortgage rates in Portugal for non-residents?
According to our own bank survey (checked 06.10.2026, reviewed quarterly), mortgage rates in Portugal for non-residents run 3.65 to 3.90 per cent for a discounted fixed rate and 4.40 to 4.65 per cent undiscounted. The discount requires bundled products from the bank. Portuguese banks typically lend up to 80 per cent of the lower of purchase price or Avaliação.
Beyond the rate: who pays stamp duty, and how much do banks lend in Portugal?
The borrower pays the stamp duty of 0.6% on the loan amount, which is already included in the APR; banks typically lend up to 80% of the lower of purchase price or avaliação.
The borrower pays the stamp duty: 0.6% on the loan amount, already included in the APR — no surprise at the end.
Up to 80% of the lower of price and avaliação: Typically up to 80% of the lower of purchase price or Avaliação — the highest ratio among the countries we broker in.
Mortgage rates Portugal: fixed rate with and without discount
For non-residents, fixed-rate (fixa) financing dominates in Portugal; the table figures are what count. On top comes the high loan-to-value of up to 80%, which noticeably lowers the equity needed.
Fixed (fixa) — Discounted: 3.65 %–3.90 %; Undiscounted: 4.40 %–4.65 %. Loan-to-value (LTV) — Discounted: up to 80% of the lower of purchase price or Avaliação.
Source: Perini’s own bank survey (as at October 2026); 12-month Euríbor: Banco de España / EMMI. As at 06.10.2026, reviewed quarterly. Individual offers depend on creditworthiness, property and bank.
Representative example: Advertising a rate obliges us to show what it means in figures. Here it is — calculated with the bonificação, the rate most deals actually close at.
What the discount requires, what it is worth and what applies without it is set out below. Loan amount: €200,000. Loan-to-value: 80 %. Term: 20 years, fully amortising loan. Fixed borrowing rate: 3.85 % (with bonificação). Monthly payment: €1,196.21.
APR (TAEG): 4.00 % — excluding the running costs of the bundled products (bank-dependent). Total amount payable: €287,090. Assumptions: Fully amortising loan, calculated on the discounted rate.
Valuation €280; stamp duty (Imposto do Selo) 0.6 % of the loan (€1,200) — the borrower bears it, and it is included in the APR. No arrangement fee.
The running costs of the bundled products depend on the bank and are not included in the APR. Without the bonificação the rate is 4.60 % → payment €1,276.12, APR 4.78 %. The discount is therefore worth about €959 a year.
It requires two to four, depending on the bank, bundled products (typically: bank account, term life cover, buildings insurance, alarm system). The bundled products carry running costs that can partly or fully offset the rate discount.
Whether the bonificação pays off depends on what those products cost in your case — we calculate that against the discount before you sign.
Rates as at 6 October 2026. Not an offer and not a financing commitment — the rate you are actually granted depends on the bank, the property and your file.
How does this compare to the wider market? Market context: the best published long-term list offer (30-year fixed) in July 2026 stood at a discounted borrowing rate of 4.05 % (Banco Montepio financing examples; bank comparison ComparaJá.pt, 21.07.2026) — the longer fixed period explains the higher rate versus the 20-year example.
What tips the balance within the range
A range is not a price list. Where you land within it hangs on figures that are settled before the application goes in — and some of them can be influenced:
The loan-to-value. The strongest single lever. Whoever slips below the top band with more equity negotiates in a different category — regardless of income. The fixed period. The longer the fixed phase, the higher the rate.
Not a Portuguese peculiarity, but it bites here because the fixed rate is the norm for non-residents. The income currency. Portuguese banks lend in euros. Income in francs, pounds or dollars shrinks the circle of lenders and as a rule leads to worse terms.
The type of income. A fixed salary is weighted differently from self-employed earnings — see mortgages for the self-employed. The property itself. A city flat, a developer new build and a rural property are not valued alike; the Avaliação decides, not the purchase price.
And the bonificação is not a rate question but a cost calculation: the discounted rate hangs on bundled products whose running costs can eat up part or all of the advantage. That counter-calculation belongs before the signature.
Fixa, variável, mista — what Portugal actually offers
Portugal has three rate structures. For non-residents the fixed rate (taxa fixa) dominates; variable contracts are tied to the Euríbor, and the mixed variant (taxa mista) starts fixed and then runs variable. There is no renegotiated follow-up financing — the contract simply carries on.
Two particularities belong in every calculation: the borrower bears the stamp duty on the loan, and it is included in the quoted APR. And the high loan-to-value cuts the equity requirement so noticeably that the rate is often not the deciding item in the overall sum. What equity requirement follows from that is under requirements for a Portuguese mortgage.
What it actually takes to check an offer
The nominal rate (TAN) alone does not carry a comparison. It only becomes solid with three further figures: the TAEG as the effective rate, the annual cost of the bundled products, and — on mixed contracts — the margin that applies after the fixed phase. Only those four figures together give the cost over the term.
Anyone already financed who wants to check whether a switch pays does not weigh rate against rate, but the saving over the remaining term against the cost of switching. Portugal uses its own terminology and deadlines for the transfer, but the arithmetic is the same everywhere: run the numbers before serving notice.
Also useful: terms around financing in Portugal · run the payment and total cost.
Related: Mortgage rates Spain · Portugal overview · all info pages
Frequently asked questions
What does “discounted” (bonificação) mean in Portugal?
Portuguese banks offer a discounted rate against bundled products (current account, term life and buildings insurance, sometimes an alarm system). The running cost of those products can partly offset the saving — we calculate that for you before you sign.
Who pays the Imposto do Selo on the loan in Portugal?
In Portugal the borrower bears the stamp duty (Imposto do Selo) of 0.6% on the loan amount — it is already included in the APR, so it does not appear as a separate surprise at the end.
Up to what loan-to-value do Portuguese banks lend non-residents?
Typically up to 80% of the lower of purchase price or Avaliação (bank valuation) — the highest ratio among the countries we broker in. In practice, the achievable ratio depends on the property, your credit file and the chosen bank.
Portuguese mortgage rates: which rate structures do banks offer non-residents?
Portugal has three rate structures: fixed (taxa fixa), variable tied to the Euríbor, and mixed. For non-residents the fixed rate dominates.
Your rate in Portugal, not a website average
We compare current offers from Portuguese banks for your specific case — including whether the bonificação is worth it for you.
Related pages
mortgages for the self-employed
Self-employed mortgage in Spain: banks assess your taxed profit, not your turnover — usually three full tax years and a 30 to 35% debt ceiling.
requirements for a Portuguese mortgage
Portugal mortgage requirements for non-residents: NIF, complete income proof, up to 80% LTV and roughly 30 to 31% of the price from your own funds.
terms around financing in Portugal
Financing property in Portugal as a non-resident: lower loan-to-value, a dedicated tax number, and tax rules that have shifted recently.
Content by Siegfried Perini — local brand representative since 2019, active in real estate since 1992, entered in the German intermediary register (§ 11a GewO) as a person directly involved in brokerage and advice. Point of contact for German-speaking buyers in Spain and Portugal. Brokerage by Olga Nikushkina, mortgage credit intermediary under § 34i German Trade Regulation (GewO); in Portugal through a locally licensed intermediary.