You don’t necessarily need to use a mortgage broker when applying for a mortgage in Portugal, as you have the option to approach any bank directly. 

However, it often proves advantageous, especially for foreigners, to work with a mortgage broker. 

Here are some reasons why opting for a mortgage broker makes sense:

Why to work with a mortgage broker in Portugal

Access to a wider range of products

Mortgage brokers have access to a diverse array of lending institutions, including banks, credit unions, and private lenders. 

This broad network enables them to provide borrowers with a wide range of mortgage products and options. 

By working with a mortgage broker, you gain access to a greater selection of loan programs, interest rates, and repayment terms. 

This ensures that you have more flexibility and can choose the mortgage that best fits your specific needs and financial situation.

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Expert advice and guidance

Mortgage brokers possess in-depth knowledge of the mortgage industry, including the specific regulations and requirements in Portugal. 

They can provide you with expert advice tailored to your circumstances and goals. 

A mortgage broker will assess your financial situation, creditworthiness, and future plans to determine the most suitable mortgage options available to you. 

They will guide you through the application process, assist with paperwork, and explain complex mortgage terms and conditions in a clear and understandable manner. 

This personalized guidance helps you make informed decisions and navigate the mortgage process with confidence.

Understanding Foreign Clients

Buying a house in a foreign country can be a complex endeavor, especially when it comes to securing a mortgage. 

Mortgage brokers who specialize in working with international clients, like those purchasing property in Portugal, possess a deep understanding of the unique challenges and considerations that arise in such situations. 

They are familiar with the specific requirements for non-resident buyers, specially origin from the US or UK, including the documentation and financial qualifications needed to obtain a mortgage. 

By leveraging their expertise, mortgage brokers can streamline the process for you, ensuring a smoother and more efficient experience.

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Negotiating power and better terms

Mortgage brokers often have established relationships with multiple lenders, allowing them to negotiate on your behalf for better loan terms and conditions. 

They can leverage their connections to secure more favorable interest rates, reduced fees, and flexible repayment options. 

This can potentially save you money over the life of your mortgage and increase your purchasing power. 

Additionally, mortgage brokers can help you navigate the complexities of mortgage pricing and understand the impact of different interest rate options, allowing you to make informed decisions about your mortgage terms.


Buying a house involves numerous steps, including mortgage research, paperwork, and negotiations. 

Engaging a mortgage broker can save you significant time and effort. Rather than individually contacting multiple lenders and researching their offerings, a mortgage broker can streamline the process by assessing your requirements and matching them with suitable lenders. 

They will handle the time-consuming legwork, such as comparing mortgage rates, terms, and conditions, and present you with the most favorable options. 

This efficiency allows you to focus on other important aspects of your home buying journey, making the overall process more time-efficient.

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Personalized service

Mortgage brokers provide personalized service tailored to your specific needs and financial circumstances. 

They take the time to understand your goals, preferences, and budget, enabling them to identify mortgage options that align with your requirements. 

By assessing your financial situation, including income, credit history, and existing debts, they can offer guidance on the mortgage amount you can comfortably afford. 

This personalized approach ensures that you receive advice and recommendations customized to your unique circumstances, increasing the likelihood of finding the right mortgage solution for your Portuguese property purchase.

No additional costs

In Portugal, mortgage brokers are typically compensated by the lending institutions they work with. 

This means that as a borrower, you generally do not have to pay any additional fees or charges for their services. 

Mortgage brokers earn commissions from the lenders for successfully originating mortgages, so their expertise and assistance come at no extra cost to you. 

This fee structure makes working with a mortgage broker a financially attractive option, as you can benefit from their expertise and extensive lender network without incurring any out-of-pocket expenses.

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Legal requirements for a Mortgage Broker licence in Portugal

To work as a mortgage broker in Portugal, individuals must obtain the appropriate license issued by the Bank of Portugal, the country’s central bank and regulatory authority. The license name as “Intermediário de Crédito” is required to legally operate as a mortgage intermediary and offer mortgage brokerage services to clients.

The licensing process ensures that mortgage brokers meet certain standards of professionalism, competence, and ethical conduct. 

It helps safeguard the interests of consumers by ensuring that mortgage brokers possess the necessary knowledge and skills to provide reliable and accurate advice to borrowers.

Required documentation for applying for a mortgage

Non-residents will typically need to provide the following documentation to support their mortgage application:

  • Passport
  • Portuguese Tax Number (NIF) 
  • Proof of Address (copy of the tenancy agreement)
  • Credit report
  • Last 3 pay slips
  • Recent bank statements
  • Most recent tax returns
  • Floorplan of the apartment /house

Why choose Portugal Residency Advisors for your investment in Portugal?

Local Expertise

We know Portugal. Due to our extensive local knowledge, we believe that concentrating our services in a single country destination is the best way to give you the most thorough and useful information. 

Holistic Approach

One single channel of communication for the entire process. We provide you with a comprehensive service that covers all aspects of your move, from identifying the ideal residency visa to finding your new home or helping you to settle. 

Transparent Service

We recommend what’s best for you based on an extensive process experience that saves time and money to clients. Our pricing is clear and competitive, and we don’t sell services that make us more money. 

Simple Process

Technology plays a very important role in our company. We minimize our clients’ involvement in paperwork. We are customers ourselves and we know how to serve you.
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Frequently asked questions about Reasons to work with a mortgage Broker in Portugal

What are the advantages of using a mortgage broker?

Mortgage brokers offer time-saving assistance, personalized service, and access to a network of lenders, resulting in potential cost savings, better loan terms, and a smoother mortgage process.

Are there any additional costs associated with working with a mortgage broker?

In Portugal, mortgage brokers are typically compensated by the lending institutions, meaning there are usually no direct costs to borrowers. They earn commissions from lenders upon successful mortgage origination.

How does a mortgage broker ensure that my best interests are represented?

Mortgage brokers have a legal obligation to act in their clients’ best interests. They assess your financial situation, goals, and preferences, and recommend mortgage options that align with your specific needs.

How does a mortgage broker help foreigners buying property in Portugal?

Mortgage brokers specializing in foreign clients understand the unique challenges and requirements faced by non-resident buyers. They provide guidance on documentation, financing options, and cultural support, facilitating a seamless experience.