Cape Verde Mortgages
Cape Verde Mortgages are available from a range of lenders to purchase apartments, villas and land or to remortgage.
Loan to Value
Loan to value on property purchases in Cape Verde are up to 85%. If you wish to purchase a property valued at 300,000€ then you may be able to borrow up to 255,000€.
Mortgages in Cape Verde can be taken in personal names or through a company.
Interest Rates on a Cape Verde Mortgage
Interest rates are based on the Euribor and are typically from Euribor plus 3%. So if the Euribor is 5% when you purchase, your interest rate will be from 8%. We will, however, obtain the best market rates for you from our range of mortgage lenders.
Term
The maximum term for a mortgage in Cape Verde is 35 years. Most of the banks will want the mortgage to be paid off by the age of 75 years.
5 years interest only is available
Costs
The approximate costs involved are outlined as follows:
- Mortgage Registration 3% of the mortgage amount
- Notary and registry costs are 3%
- Mortgage application and arrangement fees are 1.5% of the mortgage
- Valuation fee is 0.5%
- Legal Fees 1%
Documents required for a mortgage in Cape Verde
Employed
- Last 6 months bank statements
- Last 3 month pay slips
- Last 2 years P60 (sometimes 3 years)
- Employers reference stating your role, length of service and salary
Self Employed
- Last 6 months bank statements
- Last 6 months bank statements from your business accounts
- Last 3 years self assessment tax return
- Last 3 years certified accounts
- Recent Credit report from Experian or Equifax
- Certified copy of your passport
- Certified copy of proof of your current address
For more information about Mortgages or Remortgages in Cape Verde
