Main picture: The Minister of Housing, Isabel Rodríguez. (EFE/Rodrigo Jiménez) – “El Confidencial” newspaper.
Are you under 35 and looking to buy your primary residence? Do you have children in your care? your income does not exceed 37,800 € gross per year? If you can answer “yes” to two of these three questions, this information is of interest to you.
The Government has approved a State guarantee for the sale and purchase of housing that will be in force until December 31, 2025, with the possibility of being extended for two more years. Endowed with 2.5 billion euros, this guarantee, which is neither a subsidy nor a non-refundable aid, will enable buyers to access more favorable financing for the purchase of their primary residence.
Pending the signing of the corresponding agreements, when it definitively enters into force, the State guarantee will cover up to 25% of the value of the property if the Energy Efficiency Certificate (CEE) is rated D or higher, and 20% if it is lower. In addition, this amount will increase slightly for each child dependent on the buyer, totaling €2,520 gross per year for each of them. In the event that the home is purchased by two people, the income limit will be doubled, i.e., a maximum of €75,600 gross per year between the two members of the couple, plus the aforementioned €2,520 gross per year for each dependent child. In the case of single-parent families, the limit may be increased by an additional 70%.
The aim is to facilitate access to purchase for those people who do not comply with the “standard conditions” that banks have been requesting for the granting of mortgage loans: savings of 20% of the value of the property, plus the corresponding expenses. With the entry into force of these guarantees, it will no longer be necessary to have such high savings to be able to buy your home.
It is important to bear in mind that there will be a maximum limit on the price or appraisal of housing that has yet to be determined and that will not be the same for all the Autonomous Communities. The term of the guarantee granted by the Government will be for a maximum of 10 years, regardless of the loan repayment period and whether or not there is a grace period. This endorsement by the State is a great opportunity for buyers who meet the established requirements.
At HogarAbitat, we are committed to our clients and we will make sure you know all the options available to help you find your ideal home. Do not hesitate to contact our partners for more information.
