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

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