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March 21, 2023

State blocks ‘First Home’ programme

Four months have passed since the state launched the new stage of the ‘First Home’ programme, which allows Romanians to build houses on state-guaranteed credits. Yet since then, no such credits have been granted. In fact, state and banks have not completed all legal steps needed in view of this programme, Realitatea.net reports.

“Banks did not give us their operating norms, so far, and we must sign the conventions between us and them, and they are still thinking, because these are complicated things,” said Aurel Saramet, president of the Guaranteeing Fund. Clients can only wait for the banks to issue their norms and sign the conventions with the state. In turn, the state delayed by three months publishing these conventions in the Official Gazette. Those who dream to build a dwelling through the ‘First Home’ programme may keep on dreaming, because the state did not hurry to issue the required legislation, nor did banks rush to put pressure on authorities, so they can give such loans. The good news, if it can be called that, is that only 5 pc of Romanians say they plan to take a bank loan this year. Those interested to take a state-guaranteed loan for the construction of a house must keep within a maximum EUR 70,000.

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