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Can I get housing credit to buy an off-plan house?

Yes, it is possible to get housing credit to buy a house off plan. But be aware that not all banks are open to this possibility.

With a strong wave of property construction for housing in Portugal, buy a house before this being built has attracted more and more investors.

In this article, we will explain to you what distinguishes applying for a bank loan to this solution, what are the advantages and associated risks.


How does housing credit work in these situations?

Buying a house off plan involves, from the outset, a greater risk factor due to the possibility of the property not getting off the ground. For this reason, in Portugal few banking institutions offer home loan products for these cases.

As a general rule, financing only advances in the final part of construction, close to the time of writing. This requires the client to have own capital to start the entire process.

In those banks that allow financing for off-plan houses, the value of the housing loan is released in stages, throughout construction.

In some cases, it is possible that, in the first few years, the customer benefits from paying only the loan interest, which allows you to create savings until the end of the work.

Even so, it will be important that you have your own capital to support the initial costs and continue with the purchase of an off-plan house.

As it is a process that involves some complexity, the ideal is to have the support of a specialized company, such as DECISIONS & SOLUTIONS.

In addition to saving time and money when looking for your credit, you will be able to clarify all your doubts with a team of qualified professionals who will advise you and help you move forward with more confidence for the business.


Advantages of buying a house off plan

1. You can buy a house for a much more competitive price. When purchasing the property off-plan you have greater negotiating power, as you are investing in an asset that does not yet exist or has not yet been completed.

2. The purchase process is phased, so you always have the chance to save money throughout the construction of the property.

3. Buy a new property, which guarantees solutions adapted to a contemporary lifestyle with modern, quality materials.

4. In many cases, it may be possible to intervene and customize the property to your needs preferences.

5. There is also the possibility of valuation of the house over time, at least emergence of more construction and services in this area of residence.


Care to be taken when buying a house off plan

As we mentioned previously, buying a house that has not yet been built includes some risk. To help you act with caution, we have prepared some important advice:

1. Investigate before committing to a purchase and sale promise contract(CPCV). Look for information about the construction company and other properties it has built. This way, you will minimize the risk of unpleasant surprises and have a clearer idea of what you are buying. If it already exists, it is very important that you pay a visit to the model floor.

2. To ensure that you have the apartment exactly as you want and with the respective requested changes, put everything in writing. Make everything official, including the budgeted amounts for finishing

3. In the CPCV it is important that all information about deadlines and guarantees is recorded. In addition, details relating to the granting of the housing loan and protection clausesfor situations of default must be included. .

4. You should only proceed with signing the CPCVwhen you have approval for financing from the bank. Furthermore, it is essential that you only do so with the appropriate protection guarantees in case of delay in completing the work.


Do you need help buying a house off plan?

Buying a house off plan can be a challenge. Know thatDECISIONS & SOLUTIONS you can follow the entire process. In addition to helping you find the best home loan solution for you, our teams will guide you through all the steps and bureaucratic issues.

Therefore, despite the risk inherent in a business of this magnitude, your investment will be more secure.

If you need help, contact us. We will help you clarify all your doubts.




Decisions and Solutions – Credit Intermediaries, Lda, registered with the Bank of Portugal, as a Linked Credit Intermediary, under no. 926, verifiable at -credito is a mediator registered with the ASF, since 29 September 2009, with the category of Insurance Agent, under no. 409311648/3, with authorization for Life and Non-Life, verifiable at The insurance intermediary does not assume risk coverage. Decisions and Solutions – Mediação Imobiliária, Lda, holder of AMI License No. 9300 issued by IMPIC, I.P.