Porque a medida para fixar prestação da casa não abrangeu todos os créditos elegíveis?

Why did the measure to fix mortgage installment not cover all eligible credits?

The government's measure to set the monthly house payment did not cover all contracts that would be eligible for the process. Find out why and how to fix the installment in a different way.

26 Apr 20243 min

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Change your interest rate to fixed on your home loan? Leave it to us! The Poupança no Minuto can help you transfer your credit to better conditions, at no cost! Contact us or first understand what is at stake in this article.

Measure to fix home installment only covered 0.8% of eligible credits.

The measure by the Government allowing fixed monthly mortgage payments only covered 8,000 housing credits until February, which represents 0.8% of eligible financing.  

According to information from the Behavioral Supervision Report of the Bank of Portugal (BdP), there were 25,879 requests, but only 8,636 were processed to fix the installment, 0.8% of the contracts that were eligible for this measure.

The BdP alleges that the main reason for 17,243 of these credits not moving forward in the process was due to not confirming the request (88% of those that did not advance was due to lack of client confirmation). Even though they made the initial request, clients did not confirm later on having received the credit refund plan.  

Next, the second main reason was because 4% of the credits were under the Non-Compliance Risk Action Plan (PARI) - which excluded the eligibility of these credits.  

Note that the measure was implemented in contracts with an average term of 36 years and an average remaining term of 29 years, with an average reduction in the installment in housing loans contracts where this measure was implemented was 76 euros.

Remember that this measure is based on a regime created by the Government, in response to the rise in interest rates, which was in effect until March of this year. Clients with home loans who could join the measure had access to fixation of their monthly installment for two years, at a lower value than the current one. This is because, during those two years, the installment is tied to 70% of the average Euribor six months prior to the client's request. The unpaid amount will be returned later with interest after that period.

Couldn't access the measure? You can still fix the monthly payment in the same

Couldn't access the measure to fix your monthly housing credit installment? You can fix it in another way!  

If you have a home loan with a variable rate indexed to Euribor and still see your installment fluctuate, know that it is still possible to switch to a fixed interest rate regime.

Not being satisfied with the current conditions of your loan, you should go to your bank to express your intention. If the bank does not accept the change in the interest rate regime, you can always request new proposals from other banks to proceed with a transfer. & nbsp;

This process will be significantly simplified if you use the services of a credit intermediary. Poupança no Minuto offers this free help throughout the entire process, making communication with banks, bureaucracies, and advice on the best credit proposal on the market for you much easier!

Simulate your housing credit transfer here and start the process with us here:  

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