Mortgage Lending Hits 12-Year High

4 November 2020Seeing the market as a major source of revenue, Portugal’s banks are maintaining their focus on residential mortgage loans.

Above eight billion euros, the level of new home loans has hit a post-2008 high, according to figures from the Bank of Portugal.

In the first nine months of the year, the pace of growth held steady, as the issuance of residential mortgages renewed highs last seen in 2008.  Banks are demonstrating a continued willingness to lend money to families, stepping up marketing campaigns to attract and retain new customers.

The Bank of Portugal’s figures show that the novel coronavirus pandemic has not delayed or prevented many families’ decisions to finance new homes with mortgages.

Original Story: Jornal de Negócios – Patrícia Abreu

Translation/Summary: Richard D. Turner