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There weren’t so many loans to buy home since 2011

The amount borrowed for house purchasing totaled EUR 715 million in the first three months of this year, a record since the arrival of the troika.

Tuesday, 23 June 2015 - Financing

The amount borrowed for house purchasing totaled EUR 715 million in the first three months of this year, a record since the arrival of the troika.

According to the Jornal de Negócios, which publishes data from the Bank of Portugal, this amount is the highest in more than three years - since the end of 2011.

This evolution can be explained, according to economists interviewed by the same newspaper, by an increasing supply from the banking institutions, in particular by the decline in minimum 'spreads' required by banks on housing loans.

Among 13 financial institutions, only two have not taken down the minimum margin charged on mortgage loans and five of them offer 'spreads' below 2%.

Source: Notícias ao Minuto