Finance Ministry to work out project on extending First Home Program
11:13 | 12.06.2020 Category: Economic
Chisinau, 12 June /MOLDPRES/- The Ministry of Finance initiated the elaboration of the draft Government Decision on approving the draft law amending the Law on measures to implement the First Home program. The procedure is necessary in the context of extending the program to other categories of beneficiaries and review of the conditions for access to the program in order to facilitate the access of private people to their own home.
According to Deputy Prime Minister Serghei Pușcuța, Finance Minister, the changes aimed at employees of the Ministry of Internal Affairs, the Ministry of Defense, the State Protection and Guard Service, the Intelligence Service, the National Anticorruption Center and the National Administration of Penitentiaries. "Within the project, the state will pay the credit body, and the beneficiary its interest. People aged up to 50 years will be eligible and the maximum cost of the building is 1 million lei. The initial participation will be 0% ", Puşcuţa said.
Previously, several amendments were voted on increasing the number of citizens who will benefit from mortgage partially guaranteed by the state and who will be compensated from the budget under the compensation programs started within the First Home program.
Thus, the age limit has been increased for private people who can access the program from 45 to 50 years. Also, the share of the initial own participation was reduced from 10% to at least 5% of the purchase price of the house. At the same time, the condition regarding the lack of real estate or living space owned by no more than 9 square meters per family member has been replaced with the possibility to join the program for private people who own real estate but intend to improve living conditions by purchasing a home that exceeds the area owned.
Applicants must be officially employed by state institutions or private companies and have income from official sources. Since its launch March 2018 , over four thousand homes have been purchased.
