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Prime Minister presents First Home Plus program

13:01 | 28.05.2024 Category: Economic

Chisinau, May 28 /MOLDPRES/ - Prime Minister Dorin Recean today presented the First Home Plus program, initiated by head of state Maia Sandu. It offers several opportunities for young people and families in Moldova to buy a home on favourable terms. The new program will be available from July.

As regards the extension of the list of beneficiaries, from now on, lawyers, bailiffs, mediators, taxi drivers, artists, i.e. anyone who can prove an income will be able to participate in the program and benefit from preferential loans.

The maximum credit ceiling has been raised. Thus, if until now it was 1 million lei, it will now be 2.5 million lei. Duration of the loan has been increased from 25 to 30 years, so that beneficiaries have a longer period for repaying the loan.

Another change is to increase the state's loan guarantee rate from 50% to 70% for housing purchased outside Chisinau. In Chisinau, in the case of housing that has been put into use for up to 10 years before the application is submitted, the credit quota will also increase from 50% to 65%.

For those who are already beneficiaries of the First Home Program, First Home Plus gives the beneficiary the possibility to re-credit or change their lender, i.e. to switch from one bank to another, including changing the credit conditions. Those who today have a home of no more than 50 square metres can apply for a larger home.

As for the simplified application procedures for the Program, the authorities will digitise the processes and eliminate more certificates, especially those provided or requested by the Public Services Agency.

"The First Home Plus program, an initiative of President Maia Sandu, targets families, aims to create the best possible living conditions for citizens here at home. The First Home Plus program is an investment in our future, in the future of young people and families in the Republic of Moldova", said Recean.

The official said that the program will be available to citizens from July 2024. Until then, the Government will complete all the necessary processes for citizens to be able to go to the bank and access the program.

So far, the amount of state investment in the program amounts to 160 million lei annually, and the authorities estimate that this amount will double in the coming period.

Maia Sandu announced on May 15, International Family Day, that she had discussed with government representatives to expand the First Home program and come up with a new program - First Home PLUS - to provide access to these resources to more young people, not just those working in state institutions.



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