The President of the Republic today promulgated the Government diploma that establishes a temporary fixation of mortgage loan installments for a period of two years, a measure that he had already considered positive.
«The President of the Republic promulgated the Government diploma that establishes the measure of temporary fixation of credit contracts for the acquisition or construction of permanent housing and reinforces extraordinary measures and support in the context of housing credits», reads a note released by the Presidency of the Republic.
The Government approved new measures for the housing sector on September 21st, including a decree-law that establishes an exceptional temporary fixing measure that “allows the installment paid by mortgage loan borrowers to be reduced and stabilized for a period of two years".
According to the statement from that meeting of the Council of Ministers, «the difference between the payment that would be due under the terms of the contract and that resulting from the fixing now foreseen is paid later, and can be amortized in advance, without any commission or charge to the borrower ».
At the time, in New York, Marcelo Rebelo de Sousa promised to urgently assess the new measures for housing, considering the idea of postponing part of the interest on housing loans for a certain period to be "positive", "for which it is expected that is overcoming the crisis”.
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