Pedro Sanchez Announces 20% Mortgage Guarantee for Under-35s and Families with Children

The president of the Government, Pedro Sanchezhas announced the creation of a line of guarantees through the Official Credit Institute (ICO) to guarantee 20% of the mortgage on a first home for young people under 35 years of age with an annual income of less than 37,800 euros and for families with dependent children.

Sánchez has vindicated this new measure that will be approved by the Government in it Minister council tomorrow as a response to the “housing emergency.”

“We are going to put housing at the center of our priorities,” he said. Pedro Sanchez after announcing the line of guarantees, which he considers necessary when in spain young people and families “have difficulty when they go to a bank to have the deposit and to be able to get a mortgage and buy their home.”

On the other hand, the head of the Executive He has defended that the key to the housing problem is to increase the offer with “protected housing” and “renovate existing housing”, and not “speculate and turn housing into a luxury good”.

“We want to turn housing into a constitutional right and a basic necessity,” added Sánchez.

20% of subsidized housing

For Pedro Sanchezthese measures are necessary so that spainwith 3%, reach to Europawhere the average of subsidized housing is 9%, although it has opted to be at the level of the Nordic economies as Denmark o Sweden: “I want to spain becomes that, in a country that has 20% subsidized housing.

This will be the “great national cause” for which Sánchez will summon “all Spaniards for the next decade.” “We are going to put all the springs, resources and instruments at the service of this cause of decent and affordable housing”, he concluded.