The Board of Trustees of the Fund for Term of Service Guarantee (FGTS), at an extraordinary meeting this Wednesday (26), approved amending the rules for financing housing with the Fund’s resources. The change allows workers to use part of the balance in the linked account to deduct the value of loan installments already contracted for the purchase of real estate up to R$2.25 million.
According to the Council, the aim of the change is to correct the inconsistency caused by the different rules, especially between 2021 and 2025. This is because the possibility of FGTS deducting premiums was allowed until June 2021, but was prohibited until October this year, when the government launched the new model.
This measure adapts to the new mortgage credit model announced by the government in October. One of the changes was to increase the maximum value of property financed with resources from the Service Time Guarantee Fund (FGTS) in the Financial System for Housing (SFH), from R$1.5 million to R$2.25 million.
The SFH fund consists of FGTS and savings resources, with interest limited to 12% per annum. This discrepancy, according to council members, could lead to elimination, thus harming the union and the fund itself. According to them, the asymmetry was already causing complaints among customers.
According to the Council, there will be an impact limited to 1% on the movement of the fund with the new proposal.