Moldovan cabinet approves concept of state programme First House

Chisinau, 26 July /MOLDPRES/ - The cabinet of ministers, at a today’s meeting, approved a concept of the state programme, First House. The document is meant to facilitate access of private people, especially of young families, to mortgage credits, through the latter’s partial guaranteeing by the state. The guarantees in the name of the state will be issued by the Organization for Small- and Medium-sized Enterprises Sector Development (ODIMM.

Under the programme, people will be able to buy flats and living houses all over Moldova, which were finished and made available for living ahead of submitting the application. The price of the houses and flats should not exceed one million lei and the initial rate paid by the beneficiary is ten per cent of the price.    

The loan will be provided by commercial banks in Moldovan lei, for a maximal period of 25 years. The loan’s interest rate will be made up of the average rate of interest on deposits with a term from 6 to 12 months, communicated by the National Bank of Moldova, a margin of up to three per cent and a guarantee commission of 0.5 per cent annually of the balance of state guarantee. The monthly charge paid by the beneficiary will not exceed 50 per cent of the net official salary incomes of the family and the state will guarantee 50 per cent of the loan.      

Citizens of Moldova, aged up to 45 years, who are employed and have official incomes, will be able to buy the first dwelling, within the First House programme. Also, the beneficiaries should not own a dwelling or have unpaid mortgage credits.    

Beneficiaries will not be able to sell the dwelling in the first five years after its acquisition, except for the case of full payment of the loan debt. Subsequently, -  with the agreement of ODIMM and the bank which provided the loan.