FAQ'S |
| Q. |
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What is the total value of the property? |
| A. |
|
Between €400,000 and €500,000 |
| Q. |
|
What discounts are there? |
| A. |
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The discount is approximately 33% which will cover all your purchasing costs |
| Q. |
|
How much mortgage is available and what is the rate of interest? |
| A. |
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The mortgage will be between 75 - 80% of the valuation. Rates are around 2% |
| Q. |
|
How much will the monthly mortgage repayments be? |
| A. |
|
2% of the mortgage amount divided by 12 |
| Q. |
|
Can the capital and interest be paid off together in monthly repayments? |
| A. |
|
Yes |
| Q. |
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Are there any other charges - service charge or administration costs? |
| A. |
|
Yes, however these should be covered by the rental |
| Q. |
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How much rental income can be expected per month and is it enough to cover the mortgage and other expenses? |
| A. |
|
The rental amount is approximately the same as all your costs |
| Q. |
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Is the rental income guaranteed? |
| A. |
|
In some cases yes for a limited period of time |
| Q. |
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Is tax payable on the rental income? |
| A. |
|
Tax is payable however it is negligible |
| Q. |
|
What documents are required for getting a mortgage in Portugal? |
| A. |
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We send these on a separate document upon request |
| Q. |
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Where are the properties? |
| A. |
|
We have properties in Lagos and Praia da Luz |
| Q. |
|
What is the address of the property? |
| A. |
|
We do not provide the address before the site visit. This is to protect the deal for our investors. In the past giving out the address has resulted in people or their friends contacting the vendor direct and we have lost the deal. |
| Q. |
|
Who manages the property? |
| A. |
|
Depends on the property, if it's an apartment in Praia da Luz they are fully managed. |
| Q. |
|
What's the next step with regards to attending viewings in Portugal? |
| A. |
|
Book your flight, let us know the flight details, and come on one of the dates we have planned |
| Q. |
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Are all extra costs covered in the initial purchase price i.e. Stamp Duty, Property registration fees, Notary Fees, Annual Property tax (for at least first year), Fiscal Representation (for tax purposes)? |
| A. |
|
Yes. There are no extra charges. The only payment you will need to make is for the fiscal card representation is 100 euros. |
