Regulatory Alerts2024-12-31
Added · Updated
Notice No. 6/2024
This Notice establishes information disclosure requirements for credit institutions participating in the State personal guarantee scheme for housing loans to young people up to 35 years old. Institutions must publish eligibility criteria, guarantee characteristics, and coverage limits on their websites and mobile apps, and provide specific details to clients before and during the contract term, including updates upon guarantee activation or cessation. The scheme allows the State to cover up to 15% of the initial loan capital for transactions up to 450,000 euros, subject to strict eligibility conditions such as age, income limits, and first-home ownership status.