First Home programme to be extended in Moldova

Chisinau, 18 July /MOLDPRES/ - The First Home programme will be extended, in order to give access to more citizens to financing for buying dwellings. The parliament today voted a draft to this effect in the first reading.   

Thus, people who do not have status of employee in Moldova, such as free-lancers, lawyers, bailiffs, taxi drivers, artists, will also be able to apply to the First Home state programme.  

Under the draft, the limit sum of the loan is also to be increased from 1 million to 2.5 million lei and the quota of guaranteeing of loans by the state – from 50 to 65 per cent or 70 per cent for dwellings outside the Chisinau municipality. Also, the crediting period was extended from 25 to 30 years.   

At the same time, people who own dwellings with an area of up to 50 square metres will be able to repeatedly participate in the programme, in order to purchase a more spacious dwelling. A string of procedures of accessing the programme were simplified as well. The people who are already beneficiaries of the programme will be able to change their crediting bank and negotiate easier terms. At the same time, the presentation of certificates issued by the Public Services Agency on the dwelling owned will no longer be necessary. The MPs also excluded the provision on mortgaging of the dwelling in favour of the state, which will remove the need to sign trilateral mortgage contracts and will facilitate the programme’s administration during the implementation.       

The draft law was worked out by the Economic Development and Digitalization Ministry, jointly with the Finance Ministry and the Organization for Entrepreneurship Development.