I have a large portfolio with good capital gains income but no regular income. This apparently makes it so that Portuguese banks won’t offer me a mortgage. I would like a mortgage and I’m looking for alternatives
Do any other countries offer mortgages I could use? I’m thinking of say, getting a mortgage in Germany and using the money to buy a Portuguese property. But I’m not sure about the rules for other countries
I’m also considering a margin loan from IBKR but that needs more investigation still. Don’t really want to move from vanguard but their rates are horrible
Any thoughts or advice are greatly appreciated
Have you considered a Lombard loan on the portfolio (assuming it consists of liquid securities) many Private Banks will lend EURs on a USD portfolio and allow you to fix & roll up the interest. The Lombard could reduce of elimate the need for a traditional mortgage & be cheaper.
Just a thought, Peter
That’s basically what a margin loan is (I was looking at IBKR’s rates, and they’re approximately 6% which isn’t the worst - just a bit complex in terms of actually getting, compared to the alternatives I think
For comparison Credit Suisse lend EURs at 4.5% for a month and less for longer duration on a Lombard
Yes but I’m not sure I can hold my current investments with them, let alone whether I want to hold them in an institution out of the USA.