UCI Mortgages

We know how important it is to be advised by professionals who speak your own language. That’s why our team is always there for you at all stages of the process of buying a house in Portugal.

If you haven’t yet found a house, you can contact Real Estate Agents who will help you through the process and make sure that the house you choose has been legally declared fit to live in. You can also look for your house in specialized web sites and magazines, or contact property developers.

If you are interested in a property make an offer directly to its real estate agent. If it is accepted, you must make a down payment and sign the deposit or reservation contract.

Before formalizing the purchase you should check a number of items related to the house as to safeguard the operation. During this process, UCI team of professional solicitors will conduct all searches and verifications, and will obtain all necessary documents and make sure everything is in order.

UCI wants to help you have a pleasant experience when buying a house in Portugal. Because the purchasing process is different in each country, UCI offers you some practical advice regarding the Portuguese reality.

The house valuation is a very important stage of the buying process because it can influence the amount of the finance, and because it helps you guarantee that the purchase price is adequate (an authorized surveyor will check that the purchase price is adequate).

- House valuation fees
- Land register fees
- Notary fees
- Solicitors

Urban Transfer Tax – This tax is paid in case of conveyance and is defined by the constant value of the act or contract or on the taxable value of the property, whichever is greater. Stamp duty – 0.8% of the declared amount of the sale, payable to the notary; 0.6% of the mortgage, withheld by the bank; 0.4% of the process opening fees, withheld by the bank. Urban Property Tax – This tax is paid each year, except in case of exemption that can go now up to 8 years in case of permanent housing. It is a tax on the taxable value of the property.

After our solicitor has checked the legal title and made appropriate searches to check that there is nothing that would adversely affect the property and its value, he will arrange the conveyance in a notary deed and cancel previous outstanding debts, if any.

You are obliged by law to take out an insurance against risk of fire on the property. At UCI you can take out a complete Multi-Risk Insurance. You are also strongly recommended to take out adequate life insurance. At UCI you can take out a complete Mortgage Insurance.