Connect with us

Economy

Is your loan reviewed in October? Get ready. Installment increase can be up to 45%

Published

on

Is your loan reviewed in October?  Get ready.  Installment increase can be up to 45%

Euribor rates rose sharply in September and will severely penalize those whose mortgages are renegotiated next month. View simulations

October should be a month of pleasant surprises for most Portuguese. Most of them will receive 125 euros in state support to cope with the effects of inflation. Those with children under the age of 24 will receive 50 euros for each child. And pensioners will receive a supplement equivalent to 50% of their pension.

But October has other surprises to consider financially. These are not at all positive. For many, gas and electricity prices will rise. And the Portuguese with mortgages, whose contracts will be renegotiated next month, are in for the worst of the unpleasant surprises: their house down payment will increase significantly.

This is because the overview of the contracts of those with a home loan is based on the average of the respective Euribor for the previous month, which it uses as an index. And in September, both the three-month-old Euribor, and the six-month-old, and the 12-month-old Euribor behaved the same way: they grew a lot. This is, in fact, the first time that the effect of positive euribor rates will be felt. This leads to an increase in the payment in October, which may exceed 200 euros.

But the bad news doesn’t end there, as these values ​​are expected to continue rising in the coming months. This is because the Euribor rates are closely linked to the changes in interest rates made by the European Central Bank, and this Wednesday the body controlled by Christine Lagarde. gave an indication of a new increase in October, which may reach even 0.75 points.

See also  Natixis bus arrives in Lisbon to recruit up to 150 people for the center of Porto - Company

Increases from 95 to 200 euros

Contracts indexed to the six-month Euribor, which make up the largest share of home loans in Portugal, will for the first time feel the impact of the rate in positive territory, where it has remained since June 6. And this is the second review this year.

This means that for a loan of 150 thousand euros for 30 years with a spread of 1% and an average Euribor rate for September, the monthly payment will be 600.51 euros, which is 146.44 euros more than has been paid since the last loan review. . Corresponds to an increase of 32%.

The six-month average Euribor rose from 0.466% in July to 0.837% in August, and in September it stands at 1.596%. The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).

installment in October

150 thousand euros, 30 years, spread 1%

Euribor 6 months

pays

454.07

go pay

600.51

Increase

146.44

Those who have contracts indexed to 12-month Euribor and who will experience an increase in interest rates for the first time in 2022 will experience a larger increase. Since the contract is renegotiated from year to year, its holder will have to pay plus 201.72 euros in installments at home when you have to deliver 651.16 euros to the bank. In the last 12 months I have paid 449.44 euros. Corresponds to a 45% increase.

After soaring to 0.005% on April 12, positive for the first time since February 5, 2016, the 12-month Euribor has been above 0% since April 21. Its average also rose from 0.992% in July to 1.249% in August. And in September, the average figure is already at the level of 2.33%.

See also  Competition fines Auchan, Modelo Continente, Pingo Doce and supplier Beiersdorf €19.5M for 'price fixing' - ECO

installment in October

150 thousand euros, 30 years, spread 1%

Euribor 12 months

pays

449.44

go pay

651.16

Increase

201.72

On the other hand, in contracts indexed to the three-month Euribor, the effect will be smaller, but closer to one hundred euros. The amount will rise to 561.96 euros, which is 95 euros more than in July. The increase corresponds to an increase of 21%.

This year, this is the third upward revision of this type of contract, they were paid another six euros in April and another 17 euros in July.

The three-month Euribor was negative between April 21, 2015 and July 13, 2015 (seven years and two months). The three-month average Euribor rose from 0.037% in July to 0.395% in August and currently stands at 1.011%.

installment in October

150 thousand euros, 30 years, spread 1%

Euribor 3 months

pays

466.10

go pay

561.96

Increase

95.86

Euribor began to rise more significantly since February 4, after the European Central Bank (ECB) admitted that it may raise key interest rates this year due to rising inflation in the eurozone, a trend that has accelerated with the start of Russia’s invasion of Ukraine.

Christine Lagarde thinks the ECB needs to act “whatever you can do” return “inflation to 2% in the medium term,” the ECB president stressed at an event in Frankfurt this Wednesday.

According to Lagarde, if the bank does not go for a new increase in interest rates, the consequences for the economy will be more serious than the increase in the cost of credit. “Our goal is not to slow down growth, our main goal is to ensure price stability. This is what the ECB needs to achieve,” he added.

See also  Cerveira on the investment map of the world leader in sports boat construction - Industry

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

Published

on

Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

Continue Reading

Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

Published

on

The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

Continue Reading

Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

Published

on

Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

See also  The remaining unused balance of IVAucher will be deducted by the IRS.

high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

Continue Reading

Trending