“The decree-law that aims to protect families with credits in bank moratorium was approved, benefiting from additional protection under the Action Plan for the Risk of Default (PARI) and under the Extrajudicial Procedure for Regularization of Situations of Non-Compliance (PERSI)”, refers the communiqué released at the end of the Council of Ministers held today.
Thus, until August 31, financial institutions “should assess the financial capacity of their customers” and, until September 15, if the legal requirements are met, “they must submit proposals to improve their contractual conditions”, he specifies.
The Government explains that, in the event of financial difficulties, families with mortgage loans are protected for a minimum period of 90 days, “financial institutions cannot terminate the contract or take legal action”.
Financial institutions may also not increase the interest rate on credit contracts, even if they are not covered by a moratorium, within the scope of agreements signed in the context of PARI and PERSI, thus reinforcing the protection of bank customers.
The executive intends to ensure that “institutions monitor their clients more proactively and that Banco de Portugal has the tools to supervise these steps.”
Most of the moratoriums were scheduled to end in September, with concerns about how families and companies will react to the obligation of having to repay loans in a still very difficult economic situation.
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