u/Repulsive-Top1615

Hello I’m buying a property in Portugal for €370k and negotiating the CPCV. I already have a formal mortgage approval from a Portuguese bank for €333k (90% of the purchase price) and the property valuation has been completed. However, the seller has rejected the financing condition proposed by my lawyer.

The CPCV does contain the standard seller-default protection: if the seller is in definitive breach, including failing to execute the deed according to the agreement, I can terminate and claim double the deposit after a 15-day cure period.

The seller also has four existing mortgages over the property which need to be discharged before/at completion.

Is it common in Portugal for sellers to reject a financing clause even when the buyer already has formal mortgage approval? Would you be comfortable signing the CPCV with a €37k deposit in this situation?

Hi folks,

I'm an EU citizen (Dutch resident) looking to buy a property in Portugal as a non-resident. I've been working with a mortgage broker and submitted my payslips, employment contract, Dutch credit report, bank statements, and other financial documents.

After about 10 days, I've only received two preliminary simulations:

• Bankinter: 10-year fixed rate, 25-year mortgage term
• Caixa Geral de Depósitos (CGD): 2-year fixed rate, 30-year mortgage term

A few questions for those who have gone through this process:

1. How accurate are these initial simulations?
   • Is there often a significant difference between the simulation and the final mortgage offer after underwriting?
2. Why are short fixed-rate periods (1–2 years) so common in Portugal? Coming from the Netherlands, I'm surprised that many people don't choose 5, 10, or even longer fixed-rate periods for stability
3. For non-residents, which banks have you found most competitive?
   • Bankinter, CGD, Millennium BCP, Santander, Novo Banco, BPI, etc.
   • Were there any banks that were particularly good for foreign income earners?
4. How much negotiation is possible with the bank?
   • Can spreads, insurance requirements, or fees be negotiated?
   • Or are the initial offers usually fairly final?
5. For those earning income outside Portugal:
   • What LTV (loan-to-value) ratio were you able to obtain?
   • Did investment portfolios, savings accounts, or other assets help strengthen your application?
6. How long did the full approval process take from initial simulation to final mortgage approval?

For context:

• Full-time employee at a large international company
• Stable salary paid in EUR
• Good Dutch credit history
• Looking at approximately 20–30% down payment

Would love to hear recent experiences from both residents and non-residents.

Thanks!