The new interest bonus on housing loans, for the most vulnerable customers, it will be interrupted if the Euribor rate falls below 3% – which could be close to happening, especially in the three-month Euribor. The decree-law published in recent days, which defines the conditions of access to the new measures approved by the Government to alleviate the increase in benefits, establishes that the cousin only exists when the index “is equal to or greater than 3%” – which means that, if the Euribor falls, the the range will be smaller than in the way that António Costa explained the mechanism. And the supports are also less generous.
When he officially presented the partial and “temporary” subsidy for credits, on March 16, the Prime Minister indicated that this support would be calculated based on the “value of the existing index on the date of execution of the contract” – from the moment that there is , after,an increase of more than 3% [sic]it is this differential above 3% that we will reimburse 50% or 75%”, indicated the prime minister.
“AND Why3%? Because it is the value that in recent years, since 2018, has already [tem sido utilizado pelos bancos] to verify, at the time of hiring, the ability of families to face a possible increase in benefits”, explained António Costa. In this statement by the Prime Minister there will be a confusion between “3%” Is “three percentage points“, because what the Bank of Portugal determines is that, in order to assess the stress of customers if interest rates rise, three percentage points must be added to the index at that time. the calculation”applies to any index value, even when registering negative values“, confirmed an official source from the Bank of Portugal.
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Source: Observadora
