House instalments lower and fixed for two years

The government has approved a new measure to combat rising interest rates by reducing the amount payable and fixing it for the next two years.

The aim of this measure is for instalments to be calculated on the basis of 70% of the six-month Euribor rate, thus leaving out the index of the loan contract. In this way, it will be possible to reduce the monthly payment, as well as keeping the amount payable stabilised.

To be covered by this measure, you need to have a home loan signed by 15 March 2023 and have a variable interest rate associated with the loan. You can also benefit from this measure if you have a mixed interest rate, but you need to be in a variable rate period for at least five years.

To find out more about this measure and whether you can benefit from it, speak to the bank where you have your credit.

Source: Portal do Governo