26th March 2020

During these very difficult times whilst the whole world is on Lock Down, the Banks in Portugal are continuing to analyse mortgages cases for non-resident buyers and owners of property in Portugal on applications subject to status.

The Director of Corporate and Commercial Finance (Anglo Portuguese) is continuing to communicate with colleagues in Portugal both on the phone and via internet.

All information required by the Banks is being sent via internet only at present with originals to follow when hopefully the world returns to normality.

Communication can be made by calling +44 1458 851263 or mobile +44 7785 552189 or by email to enquiries@corpandcommercial.co.uk.

Highly competitive interest rates are available both on purchase and re-mortgages.

Stay well and our thoughts are with you all in this moment of world crisis which will hopefully be over soon.

Did You Know
Portugal is Great Britain’s oldest Alli

The Algarve Resident Magazine

"With the international travel press buzzing with features on Portugal, the news came in today that 2018 was another ‘record breaking year’ in terms of visiting numbers. Over 21 million tourists visited this tiny country with so much to offer, a growth of 1.7% on figures for the year before. True, the percentage increase in new visitors is levelling off, but the bottom line is that Portugal is still luring people in, whether they are foreigners or nationals.

In fact, while the number of foreign visitors increased to 12.8 million (up from 12.7 million in 2017), nationals leaped to 8.3 million, a percentage increase of 3.8.

And despite all the negative coverage about Brexit, Brits are still charging over in droves, representing a market of 1.83 million, followed by Spain (1.75 million), France and Germany (both responsible for 1.3 million visitors each).

As for ‘destinations’ that led this record year, they remain the Algarve and Lisbon.

The Algarve saw “almost 19 million sleepover stays”, while Lisbon notched up 15 million.

Hotel takings too were up, hitting a new high of €3.6 billion.

Various portents of gloom over expectations for 2019 ‘in the shadow of Brexit’ have peppered the press locally and nationally, but as things stand today, it’s a moment for delight and celebration."

Recent Announcement

Separate fast track Passport control at Airports for UK passport holders

The Algarve Resident Magazine

“Following news from Portugal that British holidaymakers will continue to be welcomed “whatever the post-Brexit scenario”, EU ambassadors have officially agreed that British tourists will be free to travel anywhere in the Schengen space after Brexit, as long as their stays do not exceed 90 days in any 180-day (roughly six months) period.

In a communiqué issued on Friday, the ambassadors have now given the presidency of the European Council (recently handed to Romania) the mandate to “start negotiations on this legislative proposal with the European parliament”.

The plan is dependent on ‘reciprocal arrangements’ being extended by Britain, say reports, which is a given in that the UK has said it will not be demanding visas from EU citizens planning short visits.

Should London introduce the requirement of visas from citizens of even one Member State, the European Commission, Council and European Parliament and 27 Member States would “immediately” demand the same document to Britons.

It was a statement that has generated controversy for the fact that the ambassadors described Gibraltar as a British colony, apparently on the request of Spain.

Numerous complaints have followed, with a source for the British government stressing that Gibraltar “is not a colony and it is completely inappropriate to describe it in this way”.

The ‘good news’ however has to be that Brits – particularly in the event of a no-deal ‘crash out’ on March 29 – will continue to be welcomed for holidays throughout Europe from March 30.

Say reports today, if the UK and Brussels do however reach a deal between now and March 29, travel freedom will kick-in at the end of the transition period in 2020.

Last month, the European Commission outlined these proposals explaining that visa-free travel will still carry a price: €7 for a three-year ETIAS – a special European travel document that has not yet been issued.”

Did You Know

Mortgages available in Portugal at low rates for UK residents despite Brexit

LISBON — Quote from The New York Times 2018

Not long ago, Portugal’s capital, Lisbon, was a backwater of Europe. Its historical center was dotted with decrepit and semi-abandoned buildings. Some downtown squares were the domain of prostitutes and drug dealers. The city served as a display case for the devastation of Europe’s debt crisis. Then, in 2011, the country embarked upon a series of difficult steps in return for an international bailout of 78 billion euros, or $92 billion, among them a new rental law that liberalized the capital’s housing market.Today the city is booming. Tourists stream off cruise ships to fill its squares and ride tuk-tuks up and down the hills. Historical buildings now gleam. New bars and restaurants throb with life.

Did You Know

Portugal welcomes UK Residents to purchase property plus tax benefits for pensioners on income outside Portugal

Lisbon forecastPorto forecastSagres forecast