At AFM we understand that applying for a mortgage in a foreign country is an unfamiliar procedure, so we make sure that you have all the help you need so that the mortgage application is a stress free process.

The whole process, may take between 8 to 12 weeks, depending on the lender, specifications of the loan, the vendor and the legal representatives involved. The time frame from submission of the process to approval subject to valuation of the property is normally 10 working days.

This step by step guide explains how the mortgage process unfolds:

Step 1

Contact us by email and fill in our application form

Step 2

Submit the mortgage application form and requested documents required by the lenders

Step 3

Before submitting your mortgage process to the bank you will need a fiscal number. We can help you with this and can also carry out your fiscal representation in Portugal

Step 4

We qualify all the documentation supplied and prepare the application for the loan conditions with your agreement

Step 5

The bank’s underwriter carries out their pre-approval

Step 6

The bank carries out their property valuation and makes a formal mortgage offer. Terms and conditions of the loan are released and offer letters sent to you

Step 7

All outstanding documentation must be supplied by the vendor at this stage for pre registrations to be done. Alternatively you can opt for a fast track system

Step 8

The bank sends you or your lawyer the draft of the deed

Step 9

You arrange insurance for your property. WAFM may help you with your building and contents cover and if your lender hasn’t requested life insurance for your mortgage, why not ask us for a quote? It’s a small thing that can save a whole lot of trouble in the future!

Step 10

Sign the deed at the notary and the house is yours.