Fixed installment of the house: You can still join the Government support.

To fix the monthly payment of the house, there are more options according to the Government. Learn more by contacting the credit intermediaries of Poupança no Minuto. But first remember how the measure in question works.

You can lock in the installment until March. Let's review the conditions.

The measure was adopted by the Government to support the Portuguese in the housing crisis, allowing mortgage borrowers to request it from their bank.

You have until March 31, 2024 to make the request, but under certain conditions. You can join the measure if you have a housing loan for own and permanent housing.  

The measure involves fixing, for two years - according to the Bank of Portugal (BdP) - the highest value among: 

• "The amount resulting from the application of 70% of the 6-month Euribor rate in force in the previous month, plus the contracted spread;"
• "Or the amount of interest calculated under the current credit agreement, based on the Euribor and contracted spread."  

To access this support, the credit for the acquisition or construction of permanent own housing and loans for home improvement projects, you must:

• Having been hired until March 15, 2023 (in case of credit transfer, this must maintain the initially signed contract until March 15, 2023 and the request made until March 31, 2024 to the bank to which the contract was transferred);
• To have a variable interest rate regime, or mixed in variable period;  
• To have a remaining term of more than five years;
• Being compliant and without outstanding payments, nor in Non-Compliance Risk Action Plan (PARI).
• Not being in a situation of insolvency.  

Is it possible to fix the installment without support?

Yes, you can also anchor the mortgage installment without government support. If you do not meet the requirements or prefer another solution, know that you can fix the house installment by renegotiating your current conditions.

In the face of current Euribor values close to 4%, there are promotional campaigns from banks with rates starting at 2% if you fix the rate for one year and then return to the variable rate (when it is expected that the Euribor values will decrease in various terms).

So, to access these campaigns, you can go to your current bank and ask if it is possible to join, and if not and the new conditions they present are not sufficient for the savings you desire - transfer the credit. You can transfer your financing to a new bank that has the ideal conditions you are looking for.

For this, it is essential to have a credit intermediary by your side. In this process, count on Poupança no Minuto to present you different proposals from banks and help you choose the perfect one!