First Home gets EUR 557 mln guarantees in 2015

Newsroom 14/01/2015 | 16:51

This year’s government-guaranteed mortgage lending First Home program will have a maximum guarantee budget of RON 2.5 billion (EUR 557 million) plus funds left unused last year, the government announced on Wednesday.

“First Home will continue in 2015. For the current year we have set aside a supplimentary 2,500 million RON limit on guarantees. Also, the Goverment bill includes the possibility of using the remaining funds allocated to banks from last year’s budget”, according to the announcemen.

Another bill will be discussed in February to possible amend the First Home program to include homeowner who want to buy bigger homes if they sell their current property.

Banks will be able to grant more than 30,000 loans via the First Home scheme in 2015 according to this budget, according to zfcorporate.ro.

In 2014, Romanians benefited of around 25,000 state guarantees on mortgage loans under the First Home program and received total loans of EUR 900 million.