A new decree is being prepared by the Draghi government aimed at those under 36. We are talking about the draft of the “Sostegni bis” decree regarding the first home mortgage for young people which would offer young people under 36 the opportunity to start the procedures to take out a mortgage without paying a deposit and without the need for guarantees. As with the Gasparrini first home mortgage fund, the State will guarantee for mortgage applicants, but with a substantial difference: a guarantee of 100% of the capital.
First home loan: how it works and who can apply
The new regulation for first home tax benefits would enter into a broader program that “looks to the next generations”, as Prime Minister Draghi emphasized during the presentation of the Recovery Plan to the chamber. “We are one of the countries with the lowest fertility rate in Europe: less than 1.3 children per woman compared to almost 1.6 of the EU average. To put our young people in a position to start a family, we must respond to three of their requests: adequate welfare, a home and a secure job. In addition to the nursery plan, which I have already mentioned, young people benefit from measures for social infrastructure and public housing”.
Young people under 36 can access the guarantee fund, including those who do not have a permanent employment contract and want to buy their first property. The State will guarantee for a maximum cap of € 250,000 on deeds stipulated to the 31 December 2022
Prestigious homes and the following cadastral categories are excluded from the concessions:
- • A1 – stately homes,
- • A8 – dwellings in villas,
- A9 – castles and palaces of outstanding artistic and historical value.
The reliefs include the exemption from registration tax, the mortgage and land registry tax and the reimbursement of the VAT paid for the transaction.
The consequences of the first home subsidies on the real estate market
In this perspective, the benefits for young adults who want to buy their first home see a 100% state guarantee. A new encouraging forecast for young families who see easier access to the first home guarantee fund, unlike that provided for in the 2019 Growth Decree, this provides a guarantee by the State of 100% of the capital, together with the other reliefs listed above.
If 210,000 applications were registered with the Guarantee Fund established in 2014 (of which 60% from young people under the age of 35) it can be assumed that, by facilitating access to the fund, the applications will be substantial. A further input for the real estate market which is opening up more and more to that socio-demographic group that feels the need to buy a house to realize the desire to create a family, but is hampered by working and contractual conditions that do not facilitate the access to the mortgage.
Buying a house in Gaeta with the first home loan guarantee fund for young people
Gaeta is the perfect city to design a young couple’s family lifestyle and home. The tranquility of a town overlooking the sea is combined with a rapidly growing cultural liveliness and greater ease of access to services, qualities that make it a sparkling and dynamic place to live peacefully. You can choose the right area to buy a house in Gaeta according to your needs. Houses range from the most exclusive residential areas, for those who prefer a quieter lifestyle, to the historic center and the medieval district, with direct access to basic necessities.
If you are considering the idea of proceeding with the first home purchase in Gaeta, do not hesitate to contact ouragency to find out about the preliminary procedures to access the guarantee fund and answer all your doubts.
