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PARLIAMENT APPROVES PROGRAM ON SIMPLIFIED ACCESS TO MORTGAGE CREDITS IN A FIRST READING

04 december, 2017

On Friday, the Parliament approved in a first reading the draft of state program "First Home", which implies the facilitated access of young people to mortgage credits.

Finance Minister Octavian Armasu said that Moldovan employed citizens aged up to 45 who have official income may participate in the program. The housing the candidate wants to take in mortgage via the program should be commissioned before the submitting of application, while its cost should not exceed 1 million lei.

"The first due accounts for 10% from the cost of housing. People, who already have housing or a mortgage credit, cannot participate in the program. Credits on buying housing will be provided by banks in Moldovan lei for a period of up to 25 years. The monthly payment should not exceed 50% from the official net income of the beneficiary or his relatives of first degree of consanguinity, while the state guarantees 50% of the credit", he explained.

The Minister said that the 2018 State Budget implies funds for additional support to public workers, whose salary does not allow them covering the monthly due.

Liberal MP Lilian Carp said that if the authorities really want to help the youth in buying housing, a part of year interest, otherwise this program will not work.

According to Liberal Democratic Party Tudor Deliu there is risk that this program will be profitable only to banks and building companies, as it does not differ from ordinary mortgage Moldovan banks program.

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