The President of the Republic, Marcelo Rebelo de Sousa, already promulgated the diploma presented by the Government a few weeks ago, with “exceptional” measures to mitigate the impact of the rise in interest rates on variable-rate housing loans.
In a note from the Presidency, released this Thursday, it can be read that “aware of the importance of this measure for many Portuguese families, who financed the acquisition of homes with mortgage credit and, therefore, may have exceptional measures to manage these loans, the President of the Republic issued the Government diploma that establishes measures aimed at mitigating the effects of the increase in the reference indices of credit contracts for the acquisition or construction of permanent housing”.
Who (and how) can ask to renegotiate the credit, with the new diploma created by the Government?
Full details about the new legislation are not yet known. But, in general terms, whoever has a mortgage loan (and eventually other consumer loans) and has experienced a rapid increase in their effort rate -to more than 36% of net income- will have an “open road” to renegotiate with the bank a way to mitigate monthly liabilities, the government said on November 3.
This renegotiation may result in changes such as the extension of the loan term (reversible in the following five years), a grace period for the payment of interest for a determined period, credit consolidation, among other hypotheses. At the limit, the client has the “negotiation weapon”, says the Government, of not having to pay early repayment commissions, a way of eliminating a possible obstacle to changing banks.
Source: Observadora
