HE minister council It started again this Tuesday 2,500 million warranty limit The euro, which was announced in May last year and was suspended due to the general elections to be held in July, 50,000 young people 18 to 35 years old and families Underage dependent children can access by purchasing a home, with no age limit. Therefore, the state will support this decision. 20% of the value the purpose of the transaction (measured as the lower of the appraisal or purchase price), banks finance 100% and buyers only 10% saved Covering expenses such as taxes, notary and registration. If the home’s energy class is D or higher, the guarantee can reach 25%.
Beneficiaries must have individual income up to maximum 37,800 euros annual gross (4.5 times IPREM). In case of purchasing the house two peopleThe income limit will be doubled (75,600 euros). There are also factors that need to be improved depending on the number of children and whether the family is single-parent. Thus, this limit will be increased by 0.3 times the IPREM (2,520 euros annual gross for each) little responsible and also when it comes to family single parent Limit can be increased 70% additional. In addition, heritage The number of recipients cannot exceed 100,000 euros.
Beneficiaries must also prove their ownership. Living legally in Spain at least during two years continuous and uninterrupted. Warranties will only benefit the purchase. first houses (not second homes or investment purchases). The warranty will have a period 10 years (regardless of whether the loan is for a longer term or not). During these ten years, buyers must be permanent residents of the property (only rent in case of circumstances requiring a change of residence such as marriage, separation or change of job).
Maximum house price
The line will remain in effect until: December 31 2025, but the Government left it open extend for two more years further. After giving the green light to the conditions of the Council of Ministers, Ministry of Housing and Official Credit Institute (ICO) They will now sign an agreement to implement and manage the guarantees. In the said agreement, maximum price or rating “Houses that can be purchased for a fee on the line” regional coverage” Location. The maximum value in question may be changed by the monitoring commission to be formed.
financial institutions They can then join the agreement and start providing guaranteed loans. housing ministerIsabel Rodríguez showed confidence that banks are participating in the project, noting that both her department and the Ministry of Economy have already participated in this project. meetings with the industry. In the blink of an eye, the cost of the warranty, which would initially be borne by the organizations, will eventually become free for them as well as for the buyers.
Rodríguez also reminded that buyers must have some cash. fixed income and banks will decide what will happen based on this income. highest amount that they are willing to lend to them, which in practice already represents a limit on the price of real estate. “The aim is that no citizen allocate more than 30% of your salary to pay the rent or mortgage,” he noted, referring to the limit generally considered financially prudent.
Login difficulty
Since the previous financial crisis, only banks finance usually maximum 80% of the value purchase or evaluation of the house. This is a measure common sense Sanctions imposed by supervisory authorities to prevent a repeat of the huge losses that occurred as a result of the bursting of the real estate bubble, which caused the disappearance of a significant part of the savings banks. The government aims to ensure that young people and families with children can get a loan of 100 percent of their property value, with a 20 percent guarantee. Of course, buyers must have saved the equivalent of 10% of the transaction value, as this is the approximate amount that must be paid to cover additional costs (such as tax, notary and registration).
The measure was already known; It was first announced by Pedro Sánchez in May 2023, at an event during the primary campaign for the regional and municipal elections on May 28, where the president made several announcements on this subject. construction of hundreds of thousands of new public housing. The same month, the Council of Ministers commissioned the Ministry of Transport and the ICO to determine the guarantee line, but the call for a general election in July paralyzed the project.