The Xunta plans to launch a second call for the mortgage guarantees to help young Galicians buy their first home. More than a hundred people will already benefit from the initiative. 75 mortgage guarantees have already been granted for a total amount of 1.43 million euros and there are another 31 applications in processing.
What does the help consist of?
In April, the Instituto Galego da Vivenda e Solo (IGVS) launched the first call for applications of this type of subsidies to facilitate under 36 years old purchasing your first home.
He aval covers up to 20 percent of the home price and is compatible with other aid managed and convened annually by the Xunta.
The deadline to request this aid ended on November 30, but the Xunta plans to open a new call in 2024.
Beneficiaries must prove annual income of between 16,800 and 46,200 eurosalthough if the purchase is made by more than one person, the joint limit will rise to 54,600 euros.
The home acquired with these supports will have to be used habitual and permanent residence of the buyer at least during the duration of the guarantee. At the time the owner pays the financial institution the amount equivalent to the public guarantee, it will lose its validity.
Another condition implies that the guarantee represents between 80 and 100 percent of the purchase amount of the property. Likewise, the amounts paid by the beneficiary must be allocated exclusively to the mortgage debt payment.
He housing prices may not exceed the following amounts: 240,000 euros in A Coruña, Santiago, Vigo, Pontevedra and Ourense; 180,000 euros in the cities of Lugo and Ferrol or in medium-sized and peri-urban municipalities; and 130,000 euros in the rest of the Community.
Therefore, the maximum amount guaranteed by the Xunta It will be 48,000 euros for the first group of town councils, 36,000 euros for the second and 26,000 euros for the third.
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