Housing

Chega bill approved to eliminate early repayment fees on variable-rate mortgages

The Portuguese Parliament approved a bill that eliminates the fee charged for early repayment of home loans with variable interest rates. The measure was passed with the abstention of several major parties, including the PSD, CDS, Liberal Initiative, PCP, and Livre.

Why it matters

If you have a home loan with a variable interest rate, you will no longer have to pay early repayment commissions when you pay off part or all of your mortgage balance once this law takes full effect.

Público· 1mo agoRead original ↗

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Related updates

Housing

AD wants to exempt variable rate mortgage early repayments from fees and proposes pension bonus for 2027

The AD coalition has proposed a set of amendments to the state budget, including the suspension of bank fees for early repayments on variable-rate mortgages. The proposal also includes the potential for a bonus payment to pensioners in 2027, contingent on budget conditions, and the expansion of the public mortgage guarantee to young people building their own homes.

Observador· 1w agoRead original ↗

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Housing

Mixed-rate loans now account for 87% of new home loans

As of August 2026, 87% of new housing credit contracts in Portugal are fixed-rate (mixed-rate loans), offering an average interest rate of 2.86% compared to 3.23% for variable-rate loans. While mixed-rate contracts now represent 49% of all active home loans, the consumer association DECO PROteste warns that early repayment commissions for these loans can reach 2% of the amortized amount during the fixed-rate period, urging a policy reduction to 0.5%.

Diário de Notícias· 3w agoRead original ↗

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Housing

Portugal early mortgage repayment explained

Borrowers can make partial early repayments of their mortgage, which allows for either lower monthly instalments or a shorter loan term. Reducing monthly payments is an automatic process based on lower capital, while shortening the loan term requires a renegotiation and agreement with the bank. Early repayments must be made on a scheduled monthly instalment date, and the bank must provide a written explanation of the financial impact after the request is made. Notice periods are seven working days for partial repayments and 10 working days for full loan settlement. Banks may charge a maximum commission of 0.5% for variable-rate mortgages and 2% for fixed-rate ones.

The Portugal News· 4d agoRead original ↗

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