Pilou

Hi,

Is there an age-limit to get a mortgage in Portugal. Do banks refuse to give a mortgage when 61/65 years old? Half savings/ half mortgage.
We plan to sell our house and want to take our time to get the best price. When we want to put an offer on another house, we would need a mortgage for half of the purchase price for a couple of years.

Thanks

qianh

Usually you need to take life insurance when you take out the mortgage in Portugal. The life insurance premium will be very high beyond certain age. There are some brokers can find you mortgage with higher age limit and no life insurance needed but the choices are limited.

Pulaski

So you want to buy, then at some later point pay off the loan with the proceeds of the sale of your home? ..... Sounds like you're looking for more of a bridging loan than a mortgage.

Why don't you just get a new mortgage on your existing home, which would automatically be paid off when the house is sold, and buy your new place as a cash buyer?

Pilou

Thanks. We will talk to our bank about this.

Pilou

Thanks for the info.