The banks in Portugal have already requested 92.8% of the available public guarantee for young housing credit, totaling 2.3 billion euros made available by the State. This situation indicates that the funds intended to support young people's access to housing are almost exhausted.
Novo Banco and Montepio recently requested an additional 100 million euros to continue lending housing credit with State guarantees. This additional authorization allows these financial institutions to maintain the offering of credit products with favorable conditions for young housing buyers.
The public guarantee program works as a way to mitigate risk for banks, encouraging them to grant credit on more accessible terms to young people. With high demand and funds almost exhausted, the government may need to consider the possibility of strengthening this support line.
