Notice of the Bank of Portugal

No. 3/2025

Published in: DR, 2nd Series, Part E, No. 124, of 01-07-2025 Mod. 99999910/T – 01/14

Index

Text of the Notice
Annex to the Notice

Text of the Notice

Through Notice No. 6/2024, the Bank of Portugal implemented the duties of disclosure of information to the public and of providing information to banking clients regarding the State's personal guarantee regime for facilitating the granting of housing credit for own and permanent residence to young people up to 35 years of age, as provided for in Decree-Law No. 44/2024, of July 10, and regulated by Ordinance No. 236-A/2024/1, of September 27.

Decree-Law No. 24/2025, of March 19, which amended Decree-Law No. 44/2024, has, in the meantime, extended to authorized financial societies the possibility of granting housing credit the ability to enter into credit contracts under the Public Guarantee regime.

The amendment introduced by Decree-Law No. 24/2025, of March 19, should be reflected in Notice No. 6/2024, so that financial societies are also obliged to observe the duties of information and assistance provided for therein, ensuring that consumers have access to the same level of information regardless of the type of institution with which they contract their housing credit.

An audience of interested parties was held, in accordance with the provisions of Article 100 of the Administrative Procedure Code, approved by Decree-Law No. 4/2015, of January 7, in the version in force.

Thus, in the exercise of the powers attributed to it by paragraph 4 of Article 77 and by Article 195 of the General Regime of Credit Institutions and Financial Societies, approved by Decree-Law No. 298/92, of December 31, in the version in force, as well as by paragraph 4 of Article 14 and by paragraph 3 of Article 22, both of Decree-Law No. 74-A/2017, of June 23, in the version in force, the Bank of Portugal determines the following:

Article 1.

Object

This Notice makes the second amendment to Notice No. 6/2024, of December 31.

Article 2.

Amendment to Notice No. 6/2024, of December 31

Article 2 of Notice No. 6/2024, of December 31, shall have the following wording:

Article 2.
Definitions
[...]
a) [...]
b) "Institution" credit institutions and financial societies authorized to carry out credit operations for the acquisition of housing, with headquarters in Portugal, or branches in national territory of credit institutions or financial institutions with headquarters abroad, and which have adhered to the protocol regarding the public guarantee concluded with the Directorate-General of Treasury and Finance;
c) [...]

Article 3.

Amendment to the Annex to Notice No. 6/2024, of December 31

The information model approved in the annex to Notice No. 6/2024, of December 31, shall have the wording contained in the annex to this Notice.

Article 4.

Entry into Force

This Notice enters into force the day following its publication.

June 17, 2025. - The Governor, Mário Centeno.

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Annex to the Notice of the Bank of Portugal No. 3/2025

Annex to the Notice

Information Model on Public Guarantee in Housing Credit for Young People

Regime of the State's Personal Guarantee

Young people up to 35 years of age may benefit from a personal guarantee provided by the State to facilitate the granting of credit for the acquisition of their first permanent own residence, whose value does not exceed 450,000 euros.

The public guarantee aims to allow financing by institutions of an amount between 85% and 100% (total) of the value of the property transaction. The transaction value corresponds to the acquisition price or, if lower, the value of the property assessment at the time of contracting the credit.

The guarantee (suretyship) is valid for a maximum of 10 years after the conclusion of the credit contract. The guarantee amount cannot exceed 15% of the property transaction value.

In the event of default on the contract, the State's guarantee may be activated before the execution of the clients' and guarantors' assets.

Institutions are not obliged to grant credit, even if clients meet the requirements to access the State's guarantee.

Borrower Access Conditions

• Between 18 and 35 years of age (inclusive);
• Fiscal domicile in Portugal;
• Cannot be owners of urban real estate or of an autonomous fraction of urban residential real estate;
• Cannot have previously benefited from the public guarantee;
• Income that does not exceed the 8th bracket of the Personal Income Tax (IRS);
• And, being exempt from submitting an income declaration, must have declared monthly work income to Social Security or benefit from social benefits that do not exceed the monthly amount corresponding to 1/14 of the maximum limit value of the 8th IRS bracket;
• Regularized fiscal and contribution status.

Conditions Applicable to the Contract

• Acquisition of the first permanent own residence, where the property transaction value does not exceed 450,000 euros;
• With mortgage guarantee;
• Concluded by December 31, 2026.

Conditions of the State's Personal Guarantee

The value covered by the guarantee cannot exceed 15% of the transaction value, with this percentage adjusted to a proportionally lower value in the case where the institution finances less than 100% of the transaction value.

If the client fails to make the payments to which they committed, the State, as surety, assumes responsibility for making those payments to the institution that granted the loan, up to the limit defined for the guarantee amount.

The client will always be responsible for paying the institution the value not covered by the guarantee and to the State for the amount that the State may pay to the institution.

For other information on the State's personal guarantee regime, consult [indication of the spaces where the information disseminated by the institution is located], and the Banking Client Portal, at What is it and different regimes | Banking Client Portal and Frequently Asked Questions | Banking Client Portal (Credits > Housing Credit > Public Guarantee in Housing Credit for Young People up to 35 Years)