Mortgage repayments up by €270

Portuguese families will have to fork out up to €270 extra per month starting January as mortgage lenders passed on the cost of European Central Bank interest rate hikes introduced to curb inflation.

The new increase in monthly repayments will affect contracts that will be revised in January, anticipating increases of between €50 and €270 according to simulations made by various Portuguese media outlets.
Euribor at 3 months will increase mortgage repayments to around €637 on average, an increase of €51 (+8.7%) in relation to payments made in September.
Euribor at 6 months will increase the mortgage repayment to €677.34, an increase of around €162 (+31%) on June.
Euribor at 12 months will mean mortgage repayments will increase to €715 on average, adding €268 (59.7%) on January 2022.