Ask how they are paid: You can do this on a comparison website like Confused. If life insurance is not required by the chosen lender you may wish to arrange such cover in your home country.
What is the regulation in UK Forex brokers?
Building insurance is a mandatory requirement when taking out a Portuguese mortgage. The minimum cover required is generally against fire and floods. The insurance premium will be based on the re-construction value of the property. Some banks require life insurance cover for either the main applicant or both mortgage applicants. We will advise you of such a mandatory requirement when providing you with the mortgage proposal document.
If life insurance is not required by the chosen lender you may wish to arrange such cover in your home country. Content insurance is not mandatory when obtaining a mortgage but should be arranged when taking possession of your property. Public liability cover should be considered when intending to rent out the property. Public liability cover is an optional cover under the content insurance. The mortgage approval will be based on various affordability ratios that the banks apply.
The early redemption penalty for a variable acquisition mortgage is 0. The interest rates of a Portuguese variable rate mortgages is linked to either the 3 or 6 month Euribor rate and increased by the margin spread that the bank applies. Euribor rates can be accessed on the following site www.
In the case of the three month Euribor rate, your mortgage repayments will be fixed for three months at the prevailing rate at the day you sign the mortgage deed, thereafter, every three months later the bank will apply the average rate of the three month Euribor rate to your mortgage from the previous month. The interest rate margin spread will be confirmed on the day the mortgage is approved and will be fixed for the term of the loan. Most banks offer a maximum mortgage term of 50 years for Portuguese residents and 30 years for non-residents.
The maximum age upon maturity of the mortgage is generally 80 for residents and 75 for non-residents. The banks offer mortgages for acquisition, construction and equity release.
Mortgages Overview Mortgages on offer Repayment options Interest rate options Lending criteria Required documentation Mortgage process Purchase and mortgage costs Mortgage calculator. Overview Mortgages on offer Repayment options Interest rate options Lending criteria Required documentation Mortgage process Purchase and mortgage costs Mortgage calculator. Your employment history The lender will require proof of your current employment in form of an employer's reference letter.
Your credit history The bank will require a credit report from your country of residence if available and will also carry out a check with the Bank of Portugal for any existing liabilities in Portugal. Please find more information on the following subjects: What documentation does the bank require to approve a mortgage? Find out more about UK Forex brokers with us and now!
When it comes to regulation, brokers in UK are mentioned to be some of the best on the market. This is due to the solid and good regulation UK brokers do have and many traders consider them as the safest and top secured choice for their first steps in trading. But not only beginners, but advanced traders also claim that UK regulation is one of the most trustworthy on the market. Find out more about the regulation in UK Forex brokers now and mainly — what the agencies that are in charge for it are:.
This is also the ex-FSA and if you have ever heard, keep in mind that their structures and main work are completely the same. Being the official financial regulator body in UK, FCA works independently from the government in UK, while its funds come from the different fees the financial services industry customers pay.
The FCA focuses on retail and wholesale financial services companies. The actions that Financial Conduct Authority put into force can be oriented to both — the customers and the UK Forex brokers. FCA has the duty to give licenses for operating on the Forex market to brokers, as well as to punish any form of violation.
The agency also accepts signals from the customers in case they find themselves in a fraud by a broker based in UK. Last, but not least, the main focus of the regulation body is the safety of personal data that traders provide, as well as security for all the financial transactions. Being an official country member of EU, UK takes the additional safety measures by the Union, as well. Note that EU has also its own specific procedures for keeping the security in UK Forex brokers, too, and sometimes the Union can even charge the different trading websites in case of giant violations.
Ok, the safety is fine, so what is left to you is to find out a UK Forex broker with the best specifications on the market, right?