First financing contract under First Home programme signed today
12:43 | 02.04.2018 Category: Economic
Chisinau, 2 April /MOLDPRES/- The first financing contract under the First Home programme, which became operational on 26 March, was signed today by the young family Nimerenco and Moldova Agroindbank. “We are happy for them, who chose to build their future home. We want to be more,” Finance Minister Octavian Armasu said.
“The program size is one billion lei. Which means that banks can issue loans of two billion lei,” the official said.
Over 200 people have already appealed to the bank, Serghei Cebotari, chairman of Moldova Agroindbank leadership board, announced. He added that the banks have large amounts of liquidity, so the lending possibilities are very high.
Citizens aged 18 to 45, officially employed and not having other properties and mortgages, can apply for the programme. For this year, a credit guarantee fund worth 50 million lei is provided in the state budget. Loans are granted by banks only in national currency (Moldovan lei – MDL). The personal contribution of the beneficiary must be at least 10 per cent of the total value of the dwelling, ie three times lower than the usual mortgage loans. If the house costs one million lei, the beneficiary’s contribution must be at least 100,000 lei. If the person wants and has more money, the first contribution may be higher, so he/she can take a smaller amount of credit.
Mortgage loans are available in three banks - Moldindconbank, Victoriabank and Moldova-Agroindbank.
Through the First Home programme, only dwellings in operation and registered in the real estate registry may be purchased. The maximum purchase price to be accepted for lending is 1 million lei.
About ten thousand families are expected to apply for the First Home programme in 2018.
The government intends to propose amendments to the normative acts and legislation that would address currency risk, expansion of people whose income can be taken into account when releasing credits, with second degree relatives, as well as inclusion in the programme not only of the employees but also of the entrepreneurs.
(Reporter V. Bercu, editor A. Răileanu)
