The mortgage installment paid to the bank rose again in April in variable-rate contracts, with an expected increase of 139 euros in the semester compared to the last review, according to the Deco/Dinheiro&Direitos simulation.
Thus, a client with a 30-year loan worth €150,000, indexed to the six-month Euribor —the most used in home loan contracts in Portugal— and with a ‘spread’ (the bank’s profit margin) of 1%, began to pay 739.40 euros as of this month, which represents an increase of 139.2 euros compared to the last review in October.
In the case of a loan under the same conditions (amount and repayment term), but indexed to the three-month Euribor, the customer now pays 708.45 euros, 70.8 euros more than in January.
These values have been calculated taking into account the Euribor averages for March of 3.267% at six months and 2.911% at three months.
Regarding the loans indexed to the 12-month Euribor, the mortgage payment —for a loan under the aforementioned conditions— will be 773.19 euros as of this month, an increase of 306.89 euros compared to what you have been paying since April 2022.
In this case, the value was calculated taking into account the average of the 12-month Euribor in March, which was 3.647%. The evolution of Euribor interest rates is closely linked to increases or decreases in ECB interest rates.
After several years in negative territory, the Euribor began to rise more significantly on February 4, after the European Central Bank (ECB) admitted that it could raise official interest rates due to the increase in inflation in the zone. euro.
Since then, the ECB has already raised the reference rates five times, which means an increase in the amount that customers pay for loans, primarily for housing, which has left many families in trouble.
Given the worsening cost of housing loans, the Government approved a diploma (which will be in force until the end of 2023) that establishes the conditions under which banks must propose credit renegotiation to clients to avoid default situations. Thousands of clients are already in the process of renegotiating their loans, according to information from the main banks.
Source: Observadora
