Mortgage renegotiations increase 5 times more in 2023.
Home loan renegotiations rise to 8.8 billion euros - a 5 times growth from 2022 to 2023. Understand better what is at stake, in the link below.
Do you need to renegotiate your home loan to lower the installment? Ask for mediation help! Talk to a credit intermediary from Poupança no Minuto and find out about the various solutions available. Or read about the numbers related to this process in 2023.
Mortgage renegotiations increased 5 times from 2022 to 2023.
In 2023, housing credit renegotiations increased 5 times more than in 2022. The value rose to 8.8 billion euros, according to data from the Bank of Portugal (BdP) shared by Notícias ao Minuto.
The increase reflected in 7.2 billion euros, compared to the 1.6 billion in 2022, further increasing the overall volume of credit renegotiations. In 2022 there were two billion processes, and in 2023, 9.3 billion were recorded.
Note that the increase also came from the measure in force in 2023, aimed at credits for own and permanent housing, which was based on an Action Plan for Default Risk (PARI) to mitigate the increase in the effort rate in these financings.
But what have borrowers achieved with credit renegotiation? The most offered solutions are extending the financing term, consolidating various credits, carrying out a new mortgage, or reducing the interest rate.
"The housing credit contracts renegotiated under PARI are considered regular renegotiations, without any specific marking in the Credit Responsibilities Central, not distinguishing themselves from other renegotiated credit contracts for reasons unrelated to financial difficulties, for example, contractual improvements due to greater negotiating power of the client," the news reads.
The Credit Responsibilities Central is a database managed by the BdP, which provides information from banks that grant loans, about the financing granted to customers. Therefore, the BdP aggregates the credit responsibilities monthly from participating banks, in relation to the values reported, and "to the responsibilities of each debtor towards all these entities, without identifying the location where the credit was granted or the entity that granted it".
If you want to access the renegotiation of the current conditions of your credit, seek the help of credit intermediaries from Poupança no Minuto. The service is free and can guarantee better conditions for your financing, and for your wallet!