The Centenos don’t want families to “spend their entire lives paying for a house.” In Portugal, loans are issued for a much longer period (31.8 years) than the average for the European Union.

According to Mario Centeno, “Portugal does not meet the European Union average. Loan repayment period for home purchase [31,8 anos] 1.5 times higher than the European average,” he said cm, adding that “you have to be very careful when you want to increase this duration so that borrowers don’t spend their entire lives paying for a house.” For the governor, the maximum borrower age of 70 must not be exceeded.

According to the Financial Stability Report (REF), at the end of September, new home loan agreements were concluded with an average interest rate of 2.2% (1.4 percentage points higher than at the end of 2021).

According to REF, the number of new mortgage lending transactions with fixed or mixed interest rates increased and in the first nine months of 2022 amounted to 13% of the amount of new loans. However, the “stock” of floating rate housing loans continues to dominate (around 90% in September). Once published, the Home Loan Review Diploma is due to be published in the Diário da República next week.