Government has already delivered 94% of the public guarantee to banks
The State’s €1,550 million fund to guarantee up to 100% housing finance for young people is almost fully committed: €1,460 million (94%) has already been allocated to banks, leaving under €90 million available for future distributions. The near-exhaustion of the guarantee reduces headroom for new beneficiaries and shifts pressure onto banks and policy makers to consider whether to broaden, renew or restrict the scheme, with implications for the housing market and public finances.
Caixa receives a further €250 million in public guarantee to help young people buy homes
Banco CTT has also requested extra support and will receive an additional €25.8 million in guarantees. Under the measure, the State acts as guarantor for between 10% and 15% of loans requested by young people up to 35 years old.
Government indicates IMT exemption benefited 70,000 young people
The government says that an exemption from IMT (the property transfer tax) benefited 70,000 young people.
IMT exemption benefited 70,000 young people and public guarantee covered 23,000 – minister
The finance minister said today that around 70,000 young people benefited from exemptions from IMT and stamp duty when buying a home, while the public guarantee covered 23,000 young people.
70,000 benefited from IMT exemption
Home News 70,000 benefited from IMT exemption 70,000 benefited from IMT exemption The Minister of Finance said today that around 70,000 young people benefited from the IMT and Stamp Duty exemption when buying a home, while the public guarantee covered 23,000 young people.
State guarantee accounts for 25.9% of total housing credit until October
The purchase of homes by young people using public guarantees represented 25.9% of the total allocated in the first ten months of the year, with 46.5% of the total amount allocated to this programme being utilised, the Bank of Portugal announced today.
Public guarantee for home purchases skyrockets and sets new record in October
October was the strongest month ever for public guarantees in housing credit, according to data published this Friday by the Bank of Portugal. The 'key mechanism' for home purchases by young people reached new highs, covering 50% of all amounts lent by banks to those aged up to 35.
