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When you buy a property in Portugal, you’ll need to gather together some paperwork in readines for your application for a mortgage in Portugal.
General documentation required to apply for a mortgage in Portugal is listed below.
• Portuguese tax number (the company can arrange this for a small fee)
• Copy of ID card or passport
• Last 6 months of bank statements (current and savings)
• Birth certificate
• Last years tax return (P60)
Further documentation will be required with regards to your current employment status. Mortgages for non residents can be up to 80% loan to value. The borrowing level is based on the house valuation and not the purchase price.

If you are looking to mortgage a  property in Portugal, it is worth contacting a Portuguese bank with regards to Read the rest of this entry »

There are many properties in Crete available to rent or purchase and one of the lovliest luxury villas for sale in Crete that we currently have for sale is in Southern Crete with uninterrupted views of the mountains of South Crete, and substantial coastline views towards Agios Pavlos, Triopetra, Frangocastello and Gavdos. This villa currently for sale by the owner is partly constructed into the hillside.

This villa for sale by the owner in Crete was constructed in 2005 and is set back 4 miles from the road which runs through the village of Saktouria to Agios Pavlos and Triopetra beaches and is ideal if you are looking to buy a property in Crete. The accommodation on offer includes four bedrooms and three bathrooms.

There are many property investors who take advantage of the excellent prices of properties in Crete. Rethymnon is currently very popular as it is less than one hour from the two international airports and has excellent prices. Crete is still a very young market and there are excellent returns to be made, as foreigners have only been able to buy property in Greece since 1993.

The price for this villa for sale in Crete is just €360,000…that is about £285,174!

There’s much more to this property for sale in Crete with coastal, mountain and panoramic views it should not be overlooked.

view this villa for sale in Crete

Go here for a selection of villas for sale in Crete

A trickle of second homes for sale turns into a flood.

The credit crunch has started to take effect on the second home market in countries where there are many new developments just coming to the stage of completion. When purchase decisions were made two years ago and consumer confidence was high, properties were increasing in value due to high demand, cheap local loans and high equity values in the primary homes.

It´s very different now. Many new developments are now coming up to the completion stage and the developers are asking their buyers to part with the balance owed, in return for the title deeds and the keys. Some buyers are choosing to cut their losses and sell for below perceived market value, but many remain in denial. The reality is that, to sell, offers of 20% below the asking price are likely and should be considered in most circumstances. The alternative is to keep the properties and hope to rent them out. Bluntly, there are not enough prospective tenants to fill all of these holiday homes.
For those, with property overseas in “Euroland”, there is the prospect of mentally off-setting some losses against the rise in the strength of the Euro against the Pound. In some cases, most people will get 10-15% more Pounds for their Euros when converting money back to the UK as the Euro has strengthened considerably against the pound over the last year.

Where´s the good news? It is predicted that the buyers who still exist will begin a buying frenzy this summer. The really smart buyers will pick from the crop now. If you have a property to sell, simply advertise it on a For Sale By Owner site like BuyMyVilla.com for just a few pounds, avoid the estate agency fee, and let the savvy buyer contact you direct. They´re out there, you just need to let them know your property is for sale.