Programme First Home extended for employees of private sector in Moldova

Chisinau, 29 May /MOLDPRES/ – The First Home Programme can now also be applied by the employees of private sector. The Cabinet of Ministers has approved today the Regulation on how to grant from the state budget (BS) compensation for the employees in private sector wishing to participate in programme, the government's communication and protocol department has reported.

The formula for calculating the compensation comes from the maximum cost of a dwelling of MDL 600,000. The state will offset gradually up to 50 per cent of the base amount of mortgage, which does not include interest, guarantee fees, and other bank payments. The compensation is granted monthly, from the approval of the application for funding until the end of the repayment period of the mortgage loan.

If the private sector beneficiary is also a parent who has children, the state will compensate up to 100 per cent of the basic amount of mortgage loan.

The financial means for this purpose will be set yearly in BS. For 2019, it is planned an amount of MDL 20 million. It will be adjusted annually according to the requests received from the public authorities (AP) and resources available in BS.

So as to be eligible under the programme, the beneficiaries must meet the following terms: cost of the dwelling can not exceed MDL 600 thousand, initial own contribution must be at least 10 per cent of the purchase price of the dwelling, rest of mortgage loan, together with related payments are to be paid within a maximum period of 25 years.

The First Home government programme was launched at the initiative of PM Pavel Filip on 26 March 2018. By present, an amount of 2,282 young people and young families have purchased their dwellings with the Government's First Home Programme.

Detailed programme info can be found at www.primacasa.gov.md and on following phone numbers: (022) 22 60 65, (022) 22 60 53, (022) 26 25 52.