The Banking Association, on the requests for access to the First Home Guarantee Fund for access to mortgages is rather encouraging. In fact, from February 2015 until March 2016, the new loans already disbursed (or in any case waiting to be granted) amounted to a total amount that reached 531 million euros, while the amount of requests reached, in the same period, 808 million euros.
A trend that shows that the aforementioned measure is increasingly confirmed as a strategic tool to allow access to mortgage loans, with the aim of purchasing the first house for residential use. Specifically, the regions that benefited most from the Fund were Lombardy, Emilia Romagna, Piedmont, Sicily and Lazio. 58% of the total was paid to young people under the age of 35.
First home guarantee fund: what does it consist of?
The resources allocated to the Fund amount to € 550 million, which can potentially secure loans of up to € 12-15 billion. It was established to allow access to credit by households wishing to purchase the main house, renovate it or implement its energy efficiency. The Fund provides for the issuance by the State of a guarantee that covers 50% of the principal amount of mortgage loans for a maximum amount of 250 thousand euros.
Who can access it and how?
Everyone can access this tool, although priority is given to young couples, single- parent households with dependent children and to young people under 35 and an atypical work contract. To access the First Home Guarantee Fund, it is necessary not to own other residential properties, with the exception of those acquired by succession or data in free use of first-degree relatives such as parents and siblings. There are 142 banks that have joined the Fund, corresponding to 70% of branches distributed throughout the territory. This list can be consulted on the website of the measure manager, ie the Consap, where it is also possible to view and download the application form.