Credit Intermediaries Handled 57% of Mortgage Volume in 2024, Bank of Portugal Data Shows
Intermediation in housing and mortgage credit in Portugal accounted for more than half of both the number and volume of new loans granted in 2024. According to the latest credit market monitoring report from the Bank of Portugal (BdP), 57% of the €17.9 billion in total new loans were processed through credit intermediaries. This amounts to just over €10 billion in value. In terms of contract numbers, intermediaries were involved in 56% of the more than 125,000 new contracts celebrated during the year.
The report, cited by Jornal de Negócios, specifies that approximately 70,000 housing credit operations involved the participation of an intermediary. This data underscores a significant trend in the Portuguese credit market, where borrowers are increasingly turning to specialized brokers to secure financing for home purchases. The central bank's report provides the first comprehensive data set illustrating the scale of this channel's market share.
The number of professionals operating in this space has also seen growth. The most recent data from the banking supervisor, which is now under the leadership of Álvaro Santos Pereira, indicates that there are currently over 6,100 registered credit intermediaries in Portugal. This figure is up from 5,893 at the close of 2024, reflecting a growing sector that is becoming more formalized and regulated. For buyers, especially those from abroad, working with English-speaking accountants and financial advisors is a key part of the process.
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The increasing market share of intermediaries suggests a shift in consumer behavior. Borrowers may be seeking out brokers for their ability to compare offers from multiple lenders, potentially securing more favorable terms than if they were to approach a single bank directly. This is particularly relevant in the context of a complex and evolving interest rate environment. Understanding the market is key, and our market insights page provides valuable context.
The Bank of Portugal's monitoring report is a key document for understanding the structure and dynamics of the national credit market. The formal recognition of the significant role played by intermediaries will likely lead to further analysis and potentially new regulatory considerations to ensure consumer protection and market stability. The data confirms that these professionals are now a fundamental part of the property financing landscape in Portugal.
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