Do I need a Mortgage?
To fund the balance of the buying price of your property, Brava organize a low rate interest only Mortgage for you. This keeps the initial payments very low.
What else do I need to get a mortgage?
You will need a fiscal/tax reference number issued by the tax office in Portugal. This is something we arrange for on your
behalf.
How long does it all take?
We allow approximately 8 to 12 weeks as “the wheels turn slowly” with the Mortgage and legal process in Portugal.
Do I need a Solicitor?
Yes you do, but Brava Properties will provide you with your own Algarve based Solictor and we pay all of the buying costs for
you. The Solicitor acts on your behalf and you will have direct contact with them. They are their to protect you and ensure
that your purchase is as stress free as possible, please feel free to ask them anything regarding the purchase. They are there
to help you and will happily do so.
How do I know the properties you offer are free of any debts and other liabilities?
Our Lawyers conduct full investigations in to all of our developments to make sure they are all free of any liabilities and that
they are ok for us to purchase. So you have no need to worry, just look forward to your new property!
How do I rent my property out and find a good agent?
If you would like to rent your property and take advantage of the rental income available, simply inform us that this is what
you want to do. We then put your property with some of the best rental companies in the Algarve/Portugal who will actively
market your property to gain the best rental income possible.
How much do you charge to rent my property?
Brave Properties do not charge you anything for organizing the rental agents for you. This is easy for us to do as we are based
in Portugal and it saves you a trip to arrange for this. The agents have fee’s of between 15-20% for any rental income
generated. They arrange for all cleaning/maintenance and of course the keys for clients.
How often can I use my property?
This is entirely up to you. The main rental months are June, July and August and they generate the most in rental income.
Some of our properties may have rental guarantees and you may then have a restricted number of weeks for personal use.
We will of course ALWAYS highlight these particular properties when we send out our marketing information, so you will be
fully aware of any restrictions on use-age.
Is my property freehold or leasehold?
All properties in Portugal are purchase on a freehold basis, so you own your property.
How many weeks will the property be rented for?
Most of our properties expect to generate between 16-20 weeks of rental income. The agents normally have no problem
covering the main rental months in high season. What we always recommend though is that you offer your property to
family, friends and colleagues to generate as much rental as possible. An average property of ours only requires
approximately 7 weeks of rental income to cover a full years running costs including your mortgage !
Do I need to insure my property?
Most of the apartments we offer have insurance covered within the maintenance and service charges payable but your
Solicitor will advise on this.
What are the service/maintenance charges?
In general these average between 55 and 100 euros per month for a 1 bedroom apartment. The costs vary depending on
the on-site facilities. The charges typically cover cleaning of communal areas, garden/pool maintenance and of course
insurance. Your Solicitor will highlight all of the monthly costs payable on your property.
Are there any other costs payable on my property?
The only other cost is the equivalent to our council tax. This is charged at 0.2% of the property value pa. So a 150,000 euro
property would have a cost of 300.00 euros pa.
What if I have any problems with my property or I need to sell it in the future?
Simply contact us at Brava, we are always here to help and advise you. You may need a builder to make alterations or a
plumber to help with a leaky tap! We have a fully approved list of contractors who can help. If you want to sell your
property we can also help with that as we have good working relationships with some of the best agents in Portugal.
To fund the balance of the buying price of your property, Brava organize a low rate interest only Mortgage for you. This keeps the initial payments very low.
What else do I need to get a mortgage?
You will need a fiscal/tax reference number issued by the tax office in Portugal. This is something we arrange for on your
behalf.
How long does it all take?
We allow approximately 8 to 12 weeks as “the wheels turn slowly” with the Mortgage and legal process in Portugal.
Do I need a Solicitor?
Yes you do, but Brava Properties will provide you with your own Algarve based Solictor and we pay all of the buying costs for
you. The Solicitor acts on your behalf and you will have direct contact with them. They are their to protect you and ensure
that your purchase is as stress free as possible, please feel free to ask them anything regarding the purchase. They are there
to help you and will happily do so.
How do I know the properties you offer are free of any debts and other liabilities?
Our Lawyers conduct full investigations in to all of our developments to make sure they are all free of any liabilities and that
they are ok for us to purchase. So you have no need to worry, just look forward to your new property!
How do I rent my property out and find a good agent?
If you would like to rent your property and take advantage of the rental income available, simply inform us that this is what
you want to do. We then put your property with some of the best rental companies in the Algarve/Portugal who will actively
market your property to gain the best rental income possible.
How much do you charge to rent my property?
Brave Properties do not charge you anything for organizing the rental agents for you. This is easy for us to do as we are based
in Portugal and it saves you a trip to arrange for this. The agents have fee’s of between 15-20% for any rental income
generated. They arrange for all cleaning/maintenance and of course the keys for clients.
How often can I use my property?
This is entirely up to you. The main rental months are June, July and August and they generate the most in rental income.
Some of our properties may have rental guarantees and you may then have a restricted number of weeks for personal use.
We will of course ALWAYS highlight these particular properties when we send out our marketing information, so you will be
fully aware of any restrictions on use-age.
Is my property freehold or leasehold?
All properties in Portugal are purchase on a freehold basis, so you own your property.
How many weeks will the property be rented for?
Most of our properties expect to generate between 16-20 weeks of rental income. The agents normally have no problem
covering the main rental months in high season. What we always recommend though is that you offer your property to
family, friends and colleagues to generate as much rental as possible. An average property of ours only requires
approximately 7 weeks of rental income to cover a full years running costs including your mortgage !
Do I need to insure my property?
Most of the apartments we offer have insurance covered within the maintenance and service charges payable but your
Solicitor will advise on this.
What are the service/maintenance charges?
In general these average between 55 and 100 euros per month for a 1 bedroom apartment. The costs vary depending on
the on-site facilities. The charges typically cover cleaning of communal areas, garden/pool maintenance and of course
insurance. Your Solicitor will highlight all of the monthly costs payable on your property.
Are there any other costs payable on my property?
The only other cost is the equivalent to our council tax. This is charged at 0.2% of the property value pa. So a 150,000 euro
property would have a cost of 300.00 euros pa.
What if I have any problems with my property or I need to sell it in the future?
Simply contact us at Brava, we are always here to help and advise you. You may need a builder to make alterations or a
plumber to help with a leaky tap! We have a fully approved list of contractors who can help. If you want to sell your
property we can also help with that as we have good working relationships with some of the best agents in Portugal.
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Frequently Asked Questions & Answers
How are you able to cover all of my buying costs?
Because we buy in quantity, in a slow market, we can negotiate great discounts off of
Bank valuation figures. Motivated developers give us enough discount (around 30%) to
cover all of your buying costs.
How do I qualify for a Mortgage in Portugal?
We have a very experienced mortgage broker who will guide you through the whole process, Mortgages in Portugal have a different criteria to those in the UK but are readily vailable with some very attractive interest rates. We also have a mortgage chaser here in the UK to help get your property completed in as quicker time as possible. We keep you fully updated at all times with the progress of your application for your own peace of mind.
Because we buy in quantity, in a slow market, we can negotiate great discounts off of
Bank valuation figures. Motivated developers give us enough discount (around 30%) to
cover all of your buying costs.
How do I qualify for a Mortgage in Portugal?
We have a very experienced mortgage broker who will guide you through the whole process, Mortgages in Portugal have a different criteria to those in the UK but are readily vailable with some very attractive interest rates. We also have a mortgage chaser here in the UK to help get your property completed in as quicker time as possible. We keep you fully updated at all times with the progress of your application for your own peace of mind.
Please feel free to ask us any other questions you may have. We want you to be happy and comfortable with your
purchase and if you are, maybe you will look at a second property with us in the future or even recommend us to a friend
and obtain an excellent referral fee!
purchase and if you are, maybe you will look at a second property with us in the future or even recommend us to a friend
and obtain an excellent referral fee!
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