The government intends to “restore the old 2012 law that allows home loan contracts to go back from variable to fixed rates”. The information was given yesterday by the Minister of Economy, Giancarlo Giorgetti, during a speech at the Chamber’s Budget Committee on the amendments to the budget package.
The novelty that comes to housing credit for the purchase or renovation of housing is, therefore, that contained in the 2023 budget law. Among the Government’s amendments to the 2023 Budget Bill is the inclusion of the possibility variable for a fixed rate, subject to certain conditions.
The mortgage credits in question were those contracted before the entry into force of that provision. This possibility may also be contemplated for mortgages stipulated before the entry into force of the 2023 Budget Law. The requirements for accessing this regulation are different and concern both who stipulates the mortgage with the bank, and the amount of it. In summary, the conditions to be met are the following: ISEE value not exceeding 35,000 euros; loan amount up to 200,000 euros; regular payment of installments.
It is therefore important that there were no delays in the payment of mortgage loan installments and it remains to be clarified whether these delays were foreseen in specific rules for the suspension of installments for the Covid period.
But the discussion on the budget law continues and even yesterday there were moments of tension between the majority and the opposition, the latter concerned with the impossibility of respecting the timetable and incurring in the provisional exercise. The script, by the way, provides for the text to be approved by the committee on Monday, so that it can reach the Chamber tomorrow morning.
So far, however, the Commission’s work has not managed to get to the heart of the analysis of the government’s amendments, whose transmission of the sealed ones accumulates a long delay. In the evening, at the end of the meeting with the undersecretary of the MEF, Federico Freni, the opposition, dissatisfied with the confrontation with the subgovernment representative, requested and obtained for today the intervention in the Budget commission of the Minister of Economy Giorgetti.
Among the government changes that have not yet been stamped and therefore not filed, is the 50% discount on VAT for those who buy houses in energy classes A and B. Rule that provides, for IRS purposes, the deduction of gross tax, up to its amount, 50% of the amount paid in VAT on the purchase of housing until December 31, 2023. Another point should then focus on minimum pensions of 600 euros for those over 75 years old.
Source: IL Tempo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
