The Portuguese Government increased by 100 million euros the available guarantee to support credit aimed at young first-time home buyers. This measure aims to reinforce young people's access to bank financing for the acquisition of their own home.
The banks involved are Novobanco and Montepio, which had already exhausted the guarantee limit initially assigned under this initiative to support youth housing.
With this increase, the two banks will be able to continue the measure that facilitates young people's access to credit for buying their first home, allowing more beneficiaries to be covered by the program.
The state guarantee works as protection for banking institutions, reducing the risk associated with granting credit to young buyers, who frequently face difficulties in accessing financing.
