And 'officially entered into force, on the whole national territory, the Regulations concerning the measures facilitate state-based Guarantee Fund for the purchase of their first home by young couples. The initiative, sponsored by the Youth Department of the Prime Minister, with the financial coverage points to make to take out a mortgage to buy their first home for under 35 with incomes up to 35 Isee thousand euro.
The Guarantee Fund for the benefit of under 35 in the event of insolvency, however, compared to signing a mortgage loan for amounts not exceeding € 200 000, size of the property shall not exceed 90 square feet, and labor income mainly used in connection with an employment relationship is permanent.
The measure was in fact promoted by the Department of Youth just for young temporary workers under 35 tend to have more difficult access to mortgage financing through the banking channel.
These are the criteria for access to the Guarantee Fund and its characteristics:
- the guarantee in the event of insolvency, will cover the 50% of the share capital (although this limit has been fixed to 75 thousand euro) by the government
- will be available to young married couples, with or without children or families parent (ie with only one parent), but with children
- ISEE income (equivalent economic situation indicator) must not exceed € 35 thousand per year
- at least 50% of the ISEE total income must be derived from a standard employment contract
- applicants must not own a home other
In the event of the insolvency fund covers up to € 75 thousand of the loan. In this way the banks will be encouraged to take out mortgages with young couples in which one of the components, or both, have a standard employment contract.
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