For the territorial director of CaixaBank Metropolitan Madrid “this collaboration with the Community of Madrid is an important support for improving the financing conditions of young people who want to carry out an important project such as buying a first home. Our entity is a leader in mortgage credit and also in financial services for young people, through the imaginary, and, as we know both markets, we believe that collaboration with institutions will increase the number of people who can consider owning the home for the first time and, what’s more, at extremely advantageous conditions “.
For her part, Paloma Martín, Minister of the Environment, Housing and Agriculture of the Community of Madrid, stressed that “in the regional executive we know that housing is a matter of the utmost importance, especially for people of this age group. They are the ones who have the most difficult access. “For this reason, he explained,” we have not stopped looking for solutions that allow them to start a life project full of opportunities and freedom “.
The Minister of Economy, Finance and Employment of the Community of Madrid, Javier Fernández-Lasquetty, wanted to “thank the financial institutions and congratulate them on their insight and success in joining this agreement and allowing them to go come on”. Fernández-Lasquetty added that “Madrid has a large and active real estate market, which, together with the elimination of the regulatory measures implemented by the Ministry of Housing, offers variety and choice to people wishing to buy or rent their home.. , to facilitate their access to the real estate market “.
The best financing conditions for each mortgage
One of the main difficulties that young people often encounter during the process of buying a house is that, despite having a situation of sufficient economic solvency to take on the monthly installments of a mortgage, they have not yet managed to accumulate sufficient savings to cover the difference. between the financing offered by the bank and the cost of housing. The usual thing on the market is that a mortgage loan contributes, at most, to 80% of the property’s value.
With this collaboration, imagin will be able to strengthen the conditions to offer a loan of more than 80% of the value of the property to young people who want to acquire their first home, through the support of the Community of Madrid, which will guarantee the part of the credit that exceeds this 80%. The exact percentage will be established in each case in a particular way, depending on the customer profile and the savings it can bring. This guarantee consists of a deposit that the Community of Madrid will make into a CaixaBank account for each purchase under the program. As the mortgage loan is written off, the Community of Madrid will withdraw these funds.
To benefit from the conditions set out in the agreement between imagin and the Community of Madrid, you must be under 35 years of age, reside in the Community, do not own another home and prove that the use of the property will be that of habitual residence. Similarly, the price of the house, excluding expenses and sales taxes, must be a maximum of 390,000 euros. The application and management will take place entirely online, through imagin. The trial will be available in the coming weeks.
Speaking of imagining
imagin is a lifestyle platform promoted by CaixaBank that offers digital, financial and non-financial services that help its users, mostly young people under 30, in their daily life and in their future projects. It currently has a community of 4 million users, a figure that is constantly growing thanks to the wide range of content and services – most of which are free of charge -, the ease of registration and the creation of various levels of connection, which, unlike of traditional banks, do not necessarily imply registration as a financial customer.
The digital content of imagin is organized around six main verticals: music (imaginMusic), video games (imaginGames), trends (imaginCafé), technology (imaginShop) and sustainability (imaginPlanet). Likewise, imagin offers special experiences and benefits in areas such as travel or urban mobility.
In addition, the imagin application develops a range of financial products to meet the savings and financing needs of young people who have entered adulthood and are starting to have their first income and lifestyle projects.
In all cases, Imagin maintains the characteristics that have made it a leading bank for the young public: operational mobile only (The services are provided exclusively through the appwithout offices and without a website, which only carries out information functions), without commissions for the user and with its own language, simple and clear, particularly suitable for direct communication with young people.
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