The The community of Madrid continues to advance in its purpose of fprovide children under 35 with the opportunity to acquire a home as their own. The regional government has signed with Ibercaja, Santander and CaixaBank the program “My first home”With which it is possible to increase the granting of a mortgage up to 95% of the value of the property for this group of young people.
Financial entities participating in the program will receive six million euros each, which represents one third of the total allocated to this initiative. The deadline for submitting applications for the establishment of banking institutions has expired on Friday and everyone complies with the two requirements expected: to have recognition minimum creditworthiness and count branches in all municipalities of the region with more than 50,000 inhabitants.
What are the conditions for this loan?
The Minister of the Environment, Housing and Agriculture, martin pigeonwho participated in the underwriting with financial institutions, indicated that, starting from next weekall people interested in accessing the loan can inquire at these banks on the application procedure.
The government led by Isabel Díaz Ayuso will facilitate mortgages for an amount greater than 80% and up to 95% of the value of the property, provided this does not exceed € 390,000.
What do you need to get this help?
As in all administrative or banking procedures, there are a few that need to be followed requirements and submit documents confirming that you respect them all. To benefit from these mortgage aids offered by the Community of Madrid, the requirements are as follows:
- Prove you have a legal residence in the communityby way of continuous or uninterrupted.
- The house must be in your name from two years before the application request date of the mortgage.
- The interested party he cannot own another property within the national territory.
With this initiative, which provides for an investment of 18 million euros, the Community of Madrid seeks the emancipation of young people from Madrid in order to have a mortgage loan.
–
