Good day to you all,

I couldn't find an appropriate forum for this question.

I am looking to buy a small apartment in Carvoeiro in the near future with the assistance of a mortgage. Not being from the Algarve and forgetting to check on my last visit , I was hoping to find out if it is safe to use the mortgage brokerage services of companies in the Algarve.

Has anybody used anyone good and do you know if they are regulated by the Portuguese authorities. I know they are not in Spain...

I am aware Barclays do mortgages, but I would like a more expansive search. ( Beware of headline rates)

Many thanks for your assistance. Keep up the good work, I will be hoping to contribute on a more frequent basis once I have my place in the sun.

Shaun

Hi, From what I have seen, and remember I think most mortgage broker firms appear to be regulated in Gibralta, but I am not an expert in these matters.
We made arrangements directly through a portuguese bank, would be pleased to pass details if you wish to contact me by email, I found them very accomodating.
Barclays now have a branch in lagoa.
Hope thats of some use.

We used one in the UK who dealt with Portuguese lenders. There are quite a few about. I can't remember how we came to use the one we did, but there are usually some advertised in magazines relating to buying abroad/in Portugal.

Thanks guys,

Hello Shaun

Having lived here a couple of years, we recently bought another property to rent out, with a mortgage. My first route was to call three or four mortgage brokers, who all tolf me that without three years of IRS returns in Portugal, that they could not help, as no portguese lenders would consider us. We then went to a number of banks, and got a couple of offers, with some very uncompetitve conditions attached.

We finally got our mortgage with BBVA in Portimao. They were very efficient, courteous and as it turned out effective. Paula, the manager in Portimao was terrific.

Very happy to recommend them.

If you need a number send a pm.