1. The Decree-Law No. 236-A/2024/1 of September 27 was published, regulating the conditions for the granting of personal guarantees by the State to credit institutions, with the aim of facilitating access to credit for first-time permanent home ownership for young people up to 35 years of age.
2. In this way, the State grants guarantees for credit operations for first-time homeownership, with a maximum value of 15% of the transaction, facilitating the full or partial (minimum of 85%) financing of the property's value.
3. Borrowers who meet the following requirements, cumulatively, are eligible to benefit from the guarantee:
a. Age between 18 and 35 years;
b. Tax residence in Portugal;
c. Income that does not exceed the 8th IRS tax bracket;
d. Not being the owner of any other urban residential properties;
e. The purchase price of the property must not exceed €450,000;
f. The credit operation must be intended for the first purchase of a permanent home;
g. Must never have previously benefited from the State's personal guarantee for this purpose.
4. The State's personal guarantee has a term of 10 years from the signing of the respective credit contract, terminating earlier if all the borrower's obligations under the said credit contract are fulfilled beforehand.
5. The decree is applicable throughout the national territory and is intended for credit institutions based in Portugal and their branches. The contracts covered must be formalized by December 31, 2026, with the possibility of extension.
6. This decree enters into force on the day following its publication, on September 28, 2024.
Cristiana Toscano
cristiana.toscano@amartins.pt
