Public guarantee in home purchase does not apply to couples with only one person under 35 years old.

Public guarantee only covers couples if both members are up to 35 years old

Couples in which only one member is up to 35 years old will not be able to benefit from the public guarantee of the State for 100% financed housing credit, since this condition only applies to couples in which both meet the age requirement.

According to DECO PROteste, cited by Notícias ao Minuto, in these situations, the individual who meets the requirements must buy the property and request the respective financing alone. They must contract the credit individually in their name, assuming ownership of the property and proving that their income supports the required effort rate.

The public guarantee at stake, which comes into force at the end of December, covers young people up to the age of 35 when buying their first home, allowing the State to guarantee up to 15% of the transaction for properties up to 450,000 euros, provided that annual income does not exceed the 8th bracket of the IRS.

In addition, young people up to 35 years old currently have exemption of IMT and Stamp Duty when purchasing their own home, with total exemption for properties up to 316,772 euros and partial exemption for values between this and 633,453 euros.

Are you young and want to take advantage of the public guarantee when buying a house? You can rely on the credit intermediaries from Poupança no Minuto to guide you through the entire process, at no cost, facilitating all the bureaucracy and communication with the banks. Ensure the best offer on the market and save yourself! Simulate now: