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October 22, 2021

PM Boc: Banks can join “First Home” program in its new form

Banks will be able, in the near future, to join the new form of the “First Home” program, as the methodological norms for the application of the new system were approved, yesterday, by the Government, the prime-minister Emil Boc stated, quoted by Mediafax. The decision is to be published in the Official Monitor.

The Government decided, at the end of March, to allow the banks interested to halve the state guarantee already contracted via the First Home program and touse the amounts thus released to guarantee new mortgage loans. At the same time, people who already own a home with a maximum 50 sq m-surface and who wish more comfort will be eligible for the new formula. The banks have at hree months term to decide whether they will accept the new conditions.

The prime-minister Emil Boc stated, earlier this month that the fourth stage of the First Home program would start after Easter. The “First Home” governmental program was launched in the summer of 2009 and the state underwrote loans destined to the buying of a maximum EUR 60,000-home and, as of 2010, within EUR 70,000, the buying of homes where works have not been initiated yet and, within EUR 75,000, new homes bought by individuals joined in an association.

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