Moldovan state housing program concept to be published in Official Journal

Chisinau, 03 August /MOLDPRES/ – The concept of the state program Prima Casa (First Home) will be published in the Official Journal of Moldova on 04 August 2017.

The document aims to facilitate the access of individuals, especially young families, to mortgage loans by partially securing them by the state. The guarantees on behalf of the state will be issued by the Organization for the Development of the Small and Medium Enterprises Sector (ODIMM).

Throughout the program, there can be purchased flats and dwelling houses on the territory of the Republic of Moldova, which have been completed and put into operation until the application is submitted. Their price must not exceed MDL 1 million and the initial rate paid by the beneficiary is 10 per cent of the price.

The loan will be granted by commercial banks in MDL for 25 years maximum. The interest rate will be composed of the weighted average interest rate on deposits with the term from 6 to 12 months, communicated by the National Bank of Moldova (BNM), a margin of up to 3 per cent and a guarantee fee of 0.5 per cent of state guarantee. The monthly payment paid by the beneficiary will not exceed 50 per cent of the official net salary incomes of the family, and the state will guarantee 50 per cent of the loan.

Under the present program, with the support of the state, citizens of the Republic of Moldova, up to 45 years old, who are employed and have official incomes, will be able to buy a first home. Also, the beneficiaries do not have to own a home or have unsecured mortgages.

The beneficiaries will not be able to dispose of the dwelling acquired within the first five years of their acquisition, except for full repayment of the debt on the loan. Afterwards, it can be done with the agreement of ODIMM and the bank that granted the loan.

(Reporter A. Ciobanu, Editor A. Raileanu)