Portuguese households have already renegotiated with the banks housing loans worth around €400 million since the revision of the rules to prevent risks of default for families in greater difficulties due to the rise in interest rates, at the end of last year.

 The figure was advanced by the Minister of Finance, Fernando Medina, in Parliament, with Eco writing that at least 8,000 families have advanced with requests for the conditions of the loans to be reviewed.

The renegotiation requests, writes the newspaper, represent less than 1% of 1.3 million housing credit contracts with variable rate.

But, only a small part of the renegotiation processes will have been completed according to the most recent balance sheet of the banks, says Eco.

At BCP, were identified 4,000 higher risk situations that could lead to contract renegotiation. At BPI, around 2,000 customers requested renegotiation. At Santander Totta there will also be around 2,000 cases that fall under the Action Plan for Default Risk (PARI).

Original Story: Jornal de Negócios | News 
Photo: Photo by Hugo Humberto Plácido da Silva in FreeImages
Edition and translation: Prime Yield