Housing became a primary goal for Botànic in this final phase of the legislature, and Consell announced two types of direct assistance for housing that would be effective from the wizard onwards. President Ximo Puig, Second Vice President and Housing Minister Héctor Illueca, and Treasury Director Arcadi Spain have announced these measures aimed at helping families combat the rise in mortgage interest rates. The Valencia government, which held a tripartite meeting, announced a second “big measure” after the bond purchase.
The two new actions, Consell points out, are aimed at rentals for young people, as well as a group of owners who are seeing an increase in their mortgages. To strengthen the Youth Hire Bonus, Generalitat plans to contribute an extra €30 million, which will add to the previously planned €22.8 million. The projections presented show that 8,900 new young people will be reached, who will benefit from 250 euros per month for 2 years.
The second action is described as extraordinary assistance to stem the rise in Euribor in variable rate mortgages when it comes to habitual housing. It will go to middle and low income people. It will be a direct and unique aid to the mortgage, and their income will be limited to those who dedicate a special effort to paying off the mortgage. Specifically, Consell has set a cap for those whose mortgages have been reviewed since April 1, 2022 and interest rates have risen above 30%.
For these cases, two assumptions are arbitrated: a 600 Euro assistance to families Those who have an income of up to 25,200 Euros and allocate at least 40% of the salary. In another case, the aid will be 300 euros and will be for families with an income of up to 33,600 euros, who put at least 50% of them into a mortgage. In either case, the request for assistance will begin in May and the Council calculates to reach around 30,000 families with a public investment of 18 million.
This measure will be in line with an additional initiative and will cut up to 100 euros in this year’s revenue campaign to offset the rate hike. This discount targets individual incomes of up to 30,000 euros and groups of 47,000 euros.