Are mortgages available in Brazil?
The mortgage market is underdeveloped in Brazil and as of yet foreign investors cannot obtain overseas mortgages in Brazil. Buyers usually arrange alternative finance in their own countries. In 2005 about 50,000 mortgages were granted to Brazilian nationals but at high interest rates. However, we expect mortgages to become available in the foreseeable future as interest rates drop and as banks continue to develop their products. Some constructors of new build and off-plan developments offer instalment plans covering periods of 12 to 84 months under financial terms. The charges applicable vary according to constructor and repayments are usually index linked (INCC).
