Belgian / Dutch mortgage for house in Portugal
Is it possible to buy a house in Portugal with a Belgian or Dutch mortgage?
This depends on your situation and, in particular, the collateral in Portugal. Do you want a mortgage in the Netherlands with a Portuguese home as collateral? Then this not possible!
Do you want a mortgage loan from a Belgian bank? Then it may be possible, provided you already have a property for sale in Belgium that you can also offer as security and collateral to the Belgian bank. Let's look at the countries separately for a moment:
Dutch mortgage for house in Portugal
If you want to buy a house in Portugal and want a Dutch mortgage, you will have to use your Dutch home as collateral? You will then use your surplus value of your home or of any other construction. Consider the following scenarios:
- Increase mortgage: on the existing mortgage on your home.
- Second mortgage: additional to your existing mortgage.
- Mortgage refinance: where you pay off the old mortgage and take out a higher new one.
- Selling property: You sell your property and buy another property. This is possible when emigrating, but also if you buy back another (cheaper) property
Bear in mind that if you draw down surplus value in the Netherlands, a mortgage in Spain may no longer be possible!
Belgian mortgage for house in Portugal
Belgian lenders sometimes allow buying and financing a house in Portugal. There are some Belgian banks, such as KBC and Belfius, that finance a purchase within the EU (European Union). As mentioned, you do need to provide collateral (house in Belgium) as security for the bank.
Want to calculate whether a Dutch or Belgian mortgage is possible for you? Then do our excess value check: