The maximum margin which creditors can enforce in 2019 for loans guaranteed by state within the First Home governmental programme will be decreased from 3 to 2 per cent. 

By this measure, the state will decrease the burden on the programme’s beneficiaries. Thus, the First Home credit becomes more attractive and commercial banks participating in the programme are limited in possibility to increase the interest for the loan provided. This and the other amendments to the regulation on the implementation of the First Home programme were approved by the cabinet today.   

Under the new provisions, people who have had a dwelling with a habitable area which does not exceed nine square metres for each family member in the last 12 months can be applicants for the First Home programme as well. Earlier, the applicants should not have any dwelling on the aforementioned period, in order to be eligible for the programme.  

Another amendment deals with the exclusion of the work record, certificate issued by the State Fiscal Service and an extract of real estate register from the list of compulsory acts the applicants of the programme were to present. The period of processing the guarantee contracts from was also shortened from 10 to 5 days.    

So far, 2,100 young people and young families have applied for the First Home governmental programme. They received credits for purchasing dwellings worth more than one billion lei.