Refinancing in Portugal?

[Henrique D.]

I'd like to apply to BRRRR method in Portugal but I'm struggling to understand how to do the refinance part. Unlike the US banking in Portugal is consolidated in a few banks which means that things that are common in the US like credit unions or local lenders are not found there.

Has anyone had experience in doing BRRRR with Portuguese lenders?

[Jaysin Anderson]

Hi Everyone - I asked my Mortgage Broker in Portugal (CAFIMO) about being able to use the BRRR method in Portugal (specifically calling out that we'd buy in cash, improve the home, and then refinance) and here is the response she provided:

If you buy it in cash you don’t need to wait for 2 year to get an home equity loan, however you wont be able to get the same Loan to value for this purpose, usually the bank goes to 50% of the property value only.

So it looks like like rather than the 70% LTV that's normal in the US, in PT it's 50%.