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photo source: radiochisinau.md

Posted by: Vasile Cojocari

News / Economic

25 Apr. 2019 / 10:18

The margin that creditors can apply for "First Home" will be reduced

The maximum margin that creditors may apply during the year 2019 for state-guaranteed loans under the First Home Government Program will be reduced from 3% to 2%. By this measure, the state lowers the burden on Program beneficiaries. Thus, First Home credit becomes more attractive, and commercial banks participating in the Program are limited in the possibility of increasing the percentage for the credit granted. This and other amendments to the Implementing Rules of the First Home Program were approved today by the Executive.

According to the new provisions, applicants for the First Home Program may also be persons who, during the last 12 months, have a home with a living area not exceeding 9 square meters for each family member. Previously, applicants were required not to have any accommodation during the mentioned period to be eligible under the Program.

Another amendment concerns the exclusion of the work card, the certificate issued by the State Tax Service and the extract from the Register of Real Estate from the list of mandatory documents that the Program applicants were to submit. The term of warranty contracts signing has also been reduced from 10 to 5 working days.

To date, 2,100 young people and young families have been applied to the First House Government Program, which received loans for dwelling purchasing worth more than 1 billion lei.

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