Il Budget Bill 2025approved by the Government on 15 October, has begun the path towards definitive approval, expected by 31 December.
The proposed regulatory text aims to ensure continuity, for the entire three-year period 2025-2027everyone facilitative measures for the purchase of the first homecontinuing the initiatives already started with the previous budget law.
The objective is to make obtaining a mortgage easier, even for those who have difficulty providing sufficient guarantees, through a specific public guarantee which should facilitate the relationship between the citizen and the bank.
The Guarantee Fund for first home mortgages:
Il Guarantee Fund for First Home Mortgages (established at the Ministry of Economy and Finance with the Law 27 December 2013, n. 147) and managed by Awarenessis a tool that facilitates access to credit for the purchase of a first home – or for the purchase and renovation and/or increase in energy efficiency – by offering a state guarantee of 50% to 90% of the mortgage.
In particular, helping young couples, single parents and families to purchase real estate units to be used as a main residence, by issuing guarantees on real estate mortgages for a maximum amount of 250,000 euros.
Consap deals with the examination of the applications, transmitted electronically by the financing parties, to verify the requirements for access to the Fund’s guarantee.
According to forecasts, the fund should be increased by 130 million euros for the year 2025 and by 270 million euros per year for 2026 and 2027 (670 million euros in total).
The numbers of the Guarantee Fund, as of 31 August 2024:
As of August 31, 2024, appear to have been presented over 570,000 questions for access to the Fund, of which over 400,000 for the 50% guarantee.
Specifically, there were 409,247 applications, of which 373,561 were accepted, and an amount of 43 billion euros in mortgages admitted to the guarantee.
Trend and statistics on requests for 80% guarantee:
Furthermore, since May 2021, the 80% guarantee has recorded over 165,000 applications received, of which 155,549 accepted, and over 18 billion euros in mortgage amounts admitted to the guarantee.
Support for large families:
Since January 2024, 572 applications have been submitted for large families, of which 508 were admitted, for a total of approximately 59 million euros in mortgages covered by the guarantee.
The CEO of Consap, Vincenzo Sanasi D’Arpe, he stated:
«From 2013, the year of establishment of the First Home Fund, to 30 September 2024, Consap recorded over 580,000 applications, from which over 440,000 mortgages were stipulated for a mortgage amount admitted to the guarantee of over 62 billion.
Our data shows that in the period January/September 2024 the number of applications admitted to the Fund’s guarantee increased by +15% compared to the same period of the previous year, in the face of a progressive decline in rates.These are significant figures that demonstrate how the Fund not only supports categories of needy citizens but also the entire Italian economy.
In fact, based on the data collected, it can be observed that to date the percentage of mortgages disbursed and guaranteed by the First Home Fund to under 36s and large families is around 70% of the total mortgages disbursed, proving the validity of the measure.»
Source for data | Consap – Concessionaire for Public Insurance Services Spa
Mortgages: increase in the average amount requested (+4.8% in the first nine months of 2024)
