Political
The state government is currently re-examining the possible sale of its home loan. The last attempt seven years ago failed due to legal concerns, this time the finance officer is more optimistic in view of the greater financial needs in the coronavirus pandemic.
29.07.2021 06.00
Online since yesterday, 6 a.m.
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The costs of the coronavirus pandemic have put the state budget under considerable pressure, because on the one hand the hospital costs have risen enormously, on the other hand the Salzburg airport has turned from a big money-maker to a business in need of subsidies and expensive projects such as the construction of the S-Link urban regional railway have yet to be launched financed.
This financing is now to be raised not only through loans but also partly through the sale of the state’s receivables, for example from housing loans. The country would not get money back from borrowers over decades, but would receive everything from investors at once. Especially banks that are currently hoarding money and have to pay negative interest for it would pay a good price, explains state finance officer Christian Stöckl (ÖVP).
Stöckl: Tenants must not suffer any disadvantage
“If we sell home loans that we have outside receivables, we can get up to 100 percent of the cash value. In order not to have to finance everything externally, it would be a right, good and economically sensible decision to sell parts of our home loan accordingly. It is important that the borrowers – tenants – do not suffer any disadvantages, ”says Stöckl.
Only housing loans from non-profit housing cooperatives are eligible for sale. This would have the advantage that you don’t have to ask every single borrower for their consent, only the cooperatives. In any case, a decision about a possible sale must be made by the end of the year, because as soon as interest rates rise again, the deal could become financially unattractive for potential buyers.
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