There will be more time to access the assistance provided by the First Home Guarantee Fund for home loans. In fact, an amendment to the Milleproroghe decree extends the deadlines for submission of applications from 30 March to 30 June 2023. The aid is aimed at young couples (where at least one of the two members is not older than 35), single-parent families with minor children and youth under 36 years of age.
In order to benefit from the government-guaranteed loan, the ISEE (indicator of equivalent economic status) must not exceed 40,000 euros per year. On the Ministry of Economy’s website, at the time of submission of the loan application, the applicant “must not own any other residential properties”, “except in partnership with other successors, with the exception of those purchased by inheritance, and in use free of charge to parents or siblings”.
The housing loan will be made available by the banks participating in the initiative on the basis of the memorandum of understanding signed between the Ministry of Economy and Abi. However, the loan amount cannot exceed 250 thousand euros and the purchased property must not fall into the cadastral categories of A1 (majestic type houses), A8 (villas) and A9 (castles, palaces of famous art or historians).
The Sostegno bis decree provides the opportunity to request an increase of the guarantee to 80% for anyone who “has an ISEE that does not exceed 40 thousand euros per year”, which falls into the “priority categories” and claims a mortgage higher than 80%. price”.
Therefore, in essence, those who buy their first house can access the “Mortgage Guarantee Fund” by obtaining a state-guaranteed loan from the bank in the amount of 80% of the real estate value. In detail, the decree provides exemptions from registration, mortgage and cadastral taxes for purchasers from a private person. However, stamp duty, mortgage fees and special cadastral taxes have to be paid.
Source: Today IT
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.
