Acesso a créditos diminui? Saiba como aceder mais facilmente

Access to credits is decreasing? Learn how to access more easily.

The European Central Bank released data collected from a survey on access to credit in the third quarter. The main conclusion was the low demand... learn more about the announced results, and how to access credit more easily.  

27 Oct 20234 min

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Want to hire a credit? With help it's easier: The credit intermediaries from Poupança no Minuto offer free assistance that simplifies the entire process. Understand better, right away.

Credit demand in third quarter decreased, ECB announces 

The European Central Bank (ECB) announced that the demand for credit in the third quarter decreased, while banks tightened conditions on various loans (mortgages and consumer credit) to businesses and households.

According to a news article released by Notícias ao Minuto, the decrease in demand was more pronounced than banks anticipated, and stems from "high interest rates", "lower fixed investment by companies", and also a "deterioration in real estate market outlooks".

The conclusions were drawn from a survey carried out by the ECB four times a year, with the aim of analyzing bank loans, conducted between September 15 and October 2, with 157 banks in the euro area.

According to the information platform, from the survey it can be observed that:  

  • 12% of banks strengthened credit conditions for companies in the third quarter;  
  • Net percentage of banks that tightened credit standards exceeded banks' expectations;  
  • Banks have tightened conditions for both housing and consumer loans;  
  • Around 11% of banks restricted mortgage standards in the third quarter;  
  • 16% of banks restricted conditions only for consumer credit in the third quarter;  

The tightening of credit conditions is at the origin of the "higher risk" facing economic prospects, the "specific situation of clients requesting loans", as well as the "lower risk tolerance and lower liquidity positions of banks", as can be read in the news.

What can be expected for the fourth quarter in credit access?  

However, banks' intention for the fourth quarter is to reinforce credit conditions for companies more, "although in a more moderate way," according to the information shared by Notícias ao Minuto.  

On the contrary, housing credit standards will be maintained and consumer credit conditions will be further tightened.

Therefore, the forecast for the fourth quarter is that the demand for credit in banking institutions will decrease even further.

How to access credits more easily?

So, how can we access credits more easily? The key is to reach the cheapest proposal on the market, according to your needs and consequences.

The decrease in demand for access to credits in the past quarter has as one of the main consequences the increase in interest rates. However, for example in housing credit, there are solutions that allow avoiding the rise in rates.

In mortgage credit, you are only subject to interest rate variations if you have credit with a variable rate associated with a benchmark, in this case, Euribor. With the variable rate, your installment has followed the increases in Euribor, at various maturities.  

But if you opt for a fixed rate (or mixed, where you can fix the rate for a period of time and then return to the variable), it ensures greater stability, as you start paying the same rate, without variations or surprises.  

If you already have a home loan, you can ask your bank to change the interest rate, and if they do not authorize it, you can transfer the loan to another bank that allows you to access this type of rate.

With a fixed rate, you can access significant savings with a home loan.  

In any loan, it is always easier to access if you hire a credit intermediary. The agents at Poupança no Minuto search for the best offer on the market for you, so you can have the cheapest conditions. And the best part: The service is free! In addition to being fast and personalized... contact us and start the process as soon as possible.

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