Government approved Regulation of implementing First House program
foto: gov.md
Today, the Cabinet of Ministers approved the secondary normative framework that ensures the implementation of the "First Home" government program.
The Regulation establishes the eligibility criteria for beneficiaries, for housing that can be purchased and for commercial banks in the Republic of Moldova involved in the program. It also describes in detail the procedure for granting mortgages through the program, as well as the way of granting and executing the state guarantee.
In this context,the prime minister Pavel Filip mentioned that this is a final step for the implementation of the program and thanked all those who contributed to the elaboration of the normative framework for its implementation. At the same time, the Prime Minister asked the responsible institutions to finalize as soon as possible the procedures that are needed.
The approval of the Regulation will be followed by certain technical procedures, such as the signing of trilateral contracts with banks and the development of several standard contracts. The Ministry of Finance intends to carry out these actions in the shortest possible time. The date from which citizens can apply for credit applications and participating banks will be announced later.
The program was designed to help young people acquire their first housing on more favorable lending terms, with the state guaranteeing 50% of the credit balance. The annual ceiling of state guarantees and the amount of funds to be executed will be set annually. For 2018, a guarantee fund worth 50 million lei is provided in the state budget.
The implementation of the program will be carried out through the Organization for the Development of Small and Medium Enterprises.
The Regulation establishes the eligibility criteria for beneficiaries, for housing that can be purchased and for commercial banks in the Republic of Moldova involved in the program. It also describes in detail the procedure for granting mortgages through the program, as well as the way of granting and executing the state guarantee.
In this context,the prime minister Pavel Filip mentioned that this is a final step for the implementation of the program and thanked all those who contributed to the elaboration of the normative framework for its implementation. At the same time, the Prime Minister asked the responsible institutions to finalize as soon as possible the procedures that are needed.
The approval of the Regulation will be followed by certain technical procedures, such as the signing of trilateral contracts with banks and the development of several standard contracts. The Ministry of Finance intends to carry out these actions in the shortest possible time. The date from which citizens can apply for credit applications and participating banks will be announced later.
The program was designed to help young people acquire their first housing on more favorable lending terms, with the state guaranteeing 50% of the credit balance. The annual ceiling of state guarantees and the amount of funds to be executed will be set annually. For 2018, a guarantee fund worth 50 million lei is provided in the state budget.
The implementation of the program will be carried out through the Organization for the Development of Small and Medium Enterprises.