March 28, 2023

Do you have a loan of 150 thousand euros? Find out how much you can increase your home payment in February

The mortgage payment paid to the bank rose again in February on floating rate contracts, with an increase of almost €200 expected in the half compared to the last revisions, according to the Deco/Dinheiro&Direitos simulation.

A loan-to-value customer 150 thousand eurosone 30 yearsadjusted to Euribor six months ago – the most used in mortgage contracts in Portugal – and with “spread” (bank profit margin) 1%start paying from February 703.90 euroswhich translates into an increase in 188.66 euros compared to the last review in August.

In the case of a loan with the same terms (amount and repayment period), but with a three-month Euribor index, the customer starts paying 660.66 euros, more 73.58 euros compared to November.

These prices were calculated taking into account the Euribor averages in the month of January 2.858% The six months is from 2.345% in three months.

Regarding loans with Euribor index up to 12 monthsthe mortgage payment – for a loan under the aforementioned conditions – will be 745.57 euro from February, an increase of 295.27 euros compared to what he paid from January 2022.

In this case, the value was calculated taking into account the average Euribor to 12 months in December and that was from 3.337%.



The evolution of Euribor rates is closely linked to increases or decreases in ECB interest rates.

After several years in negative territory, the Euribor began to rise more significantly from February 4 after the European Central Bank (ECB) admitted it could raise key interest rates due to rising inflation in the eurozone.

Since then, the ECB has already quadrupled key interest rates, which means an increase in the amount customers pay for loans, first of all for mortgages, which has put many families in a difficult position.

Industry sources told Lusa that banks have had many contacts from customers who want to renegotiate credits so that the increase in the monthly installment is not so large.

Faced with worsening mortgage costs, the government has approved a diploma setting out the conditions under which banks must offer customers a credit renegotiation in order to avoid default situations. The measures apply from 26 November 2022 until the end of 2023.

According to the Bank of Portugal, mortgage contracts renegotiated under the new Default Risk Action Plan (PARI) are considered “regular renegotiations”, without “any special marking” in Credit Responsibilities Central (its client list bank defaulting access to all banks).

However, consumer protection association Deco has warned that there are banks discouraging customers from using the transitional regime that allows them to renegotiate the loan, arguing that they will remain with the “signalled” credit.

While banks cannot flag these customers as non-compliant in Credit Responsibilities Central, various industry sources told Lusa that these customers are reported in each bank’s internal systems, which can make it difficult to access that bank’s credit products in the future. .

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