Mortgages in Cape Verde

Both the Portuguese and the local Cape Verdian banks will lend to non-residents, providing the applicant meets the required criteria, which varies from bank to bank. The mortgage market in Cape Verde is very new and is not as sophisticated or as straightforward as it is in the UK. It is strongly advised that you use the services of an expert to guide you through all of the paperwork and processes.

Currently the best mortgage on the market is as follows:-

• Maximum loan 50% of either purchase price or valuation (whichever is the lower)
• Maximum term 25 years, up to age 65
• Interest rate Euribor + 3-6.5%
• Possibility of bridging loan on some developments to assist with deposit, with no payments until property is completed
• Minimum loan 25000 euros
• Bank arrangement fee 1.25% of borrowed amount
• Variable interest rates

There is a bank whose product has improved terms and conditions but unfortunately their service is very poor so CVMC rarely use it

All of the mortgages in Cape Verde are full status loans which mean all income has to be documented by way of tax returns and accounts or P60s, payslips and bank statements.

At CVMC we are able to calculate your affordability to ensure you are able to finance your property on completion.

Mortgages are available for purchase, remortgage and construction.

CVMC can also assist Developers to finance building projects - please contact us for more details of this service.