Banking institutions in Portugal are ready to implement the new public guarantee measure for housing loans, designed to facilitate access to home purchases.
The public guarantee to support young people in purchasing their first home through credit is about to be made available. The implementation has already been completed in the main banks, and is only awaiting the formalization of contracts between the Directorate-General of the Treasury and Finance (DGTF) and the financial institutions, according to the Portuguese Banking Association (APB).
The process should be finalized in the next few days, ensuring compliance with the deadline set by the Ministry of Finance, according to Jornal de Negócios.
Some banks have already started preparing the groundwork. Novo Banco confirms that it is accepting applications and issuing credit proposals with the public guarantee. BPI also informs customers about the eligibility criteria and carries out simulations. Other banks are informally integrating the public guarantee into their offers, just waiting for it to be made official before moving forward.
The initial allocation of one billion euros, earmarked by the Government for the measure, was distributed among 18 banks, taking into account their market shares in housing loans. Santander Totta leads, with 259 million euros, followed by Caixa Geral de Depósitos, with 257 million, and BCP, with 185 million. BPI has 150 million, while Novo Banco requested only 20 million.
It should be noted that the public guarantee for housing loans is intended for the purchase of the first home by young people between the ages of 18 and 35, who do not earn an income higher than the eighth IRS bracket (81,199 euros of annual taxable income). And it will allow the State to guarantee, as guarantor, up to 15% of the value of the transaction, covering house purchases up to 450 thousand euros.
Read more here!
Source: Idealista
Comments