A maneuver which, as regards the “mortgage issue”, focuses on two measures: the confirmation of the concessions for young people under 36 in the purchase of a first home, and an enlargement of the audience that can access the solidarity fund on mortgages ( the Guarantee Fund is refinanced for 2023 with 430 million).
Firm due to the rise in ECB rates, following the government’s corrections in the aid decree ter and in the manoeuvre, the banks are ready to restart the concessions for young people under 36 who apply for a first home loan and who have represented a large share of funding in recent months since launch in June 2021.
First home loans under 36, the extension for 2023 arrives
In fact, after correcting the interest rate mechanism in the Aid ter decree which had made it impossible for the banks to grant the concession, the executive in the Budget law which is preparing to carry out the first reading – the budget bill is expected in the Chamber by next Monday, November 28, after the State General Accounting Office has provided for the necessary “stamping” of the relative measures – it also extended the measure for 2023, giving certainty to the market.
This is the exemption from registration, mortgage and cadastral taxes. Furthermore, in the case of a purchase subject to VAT, a tax credit is recognized for an amount equal to the tax paid in relation to the purchase. Finally, there is provision for exemption from the substitute tax for loans disbursed for the purchase, construction and renovation of residential properties. The taxpayer must have an ISEE not exceeding 40,000 euros per year.
Maneuver: also in 2023 wider audience for the suspension of mortgages
But there are not only concessions for the purchase of a first home for young people under 36 and single parents with minor children among the measures of the maneuver in support of those who want or have taken out a mortgage: as stated in the latest draft circulated, access to the Gasparrini Fund, the solidarity fund on first home mortgages, will continue to be allowed to a wider audience also throughout 2023, as established since the beginning of the pandemic. Not only Cig workers but also those who have lost their jobs, freelancers and VAT numbers in economic difficulty, building cooperatives will therefore be able to request the suspension of mortgage installments through the fund.