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Mortgages

Banco de Portugal Governor Álvaro Santos Pereira Pushes Mortgage Taxa de Esforço Cap From 50% to 45% and Extends the Under-35 Maturity Ladder to 40 Years — Macroprudential Recommendations Head Toward Binding-Rule Status

Banco de Portugal Governor Álvaro Santos Pereira Pushes Mortgage Taxa de Esforço Cap From 50% to 45% and Extends the Under-35 Maturity Ladder to 40 Years — Macroprudential Recommendations Head Toward Binding-Rule Status

Governor Álvaro Santos Pereira wants the mortgage taxa de esforço cap lowered from 50% to 45%, the bank-level exception envelope cut from 15% to 10%, and the maximum maturity stretched to 40 years for borrowers under 35. He also asked parliament to make the rules binding.
The Portugal Brief