Housing
BPI uses 324 million euros of its public guarantee quota
BPI has utilized 324 million euros of its 500-million-euro allocation for the state-backed housing guarantee for young homebuyers. The bank reported that this corresponds to 9,700 contracts signed during the first nine months of the year, totaling 2.1 billion euros in mortgage value; executives indicated the bank is willing to absorb more if the quota is expanded.
Why it matters
This indicates that the state-backed housing guarantee scheme for young people is being actively used by one of Portugal's major lenders, confirming the scheme's availability and impact on market activity for first-time buyers.Useful?
