In addition to young people who cannot afford the housing credit signal, there are those who are joining the public warranty even having enough savings, preferring to use the money to furnish the houses.
The public guarantee for youth housing credit, available since January, is significantly changing the real estate and banking market in Portugal. Initially conceived to support young people without savings in the acquisition of their first home, the measure has been widely used by Those who have their own capitalbut prefer to maintain liquidity for other expenses such as works or furniture.
Carla Correia, manager of the Rio Tinto era, reports significant growth in adherence to the measure, with 30% of Scripture held in January through this guarantee. Hugo Pinheiro, CEO of Credible, confirms that demand includes both young people without savings and those who choose to finance 100% of the property to preserve their own funds.
The measure, regulated by the government, aims to facilitate access to housing for young people between 18 and 35 years with income up to the 8th level of IRS and without property of housing real estate. The State guarantees up to 15% of the value of the transaction, allowing total financing of the property, provided that the candidates comply with the payment capacity rules required by Banco de Portugal.
Public guarantee is flexing traditional practices, such as payment of the signal 10% to 20% of the value of the property And many salespeople already agree to advance directly to Scripture as long as the credit is guaranteed. Others establish symbolic reserves to facilitate the business, describes the.
Banks like Santander Totta, Novobanco and BPI have already registered Hundreds of ordersmoving millions of euros in credit. With an envelope of 1.2 billion euros allocated by the government, demand reflects the impact of the measure on the financial sector.
Despite the initial success, the real test will come in scenarios of Increased interest rates or economic difficulties, when it will be possible to assess whether the measure has driven the financial independence of young people or created new risk of indebtedness.
