The Junta de Andalucía will guarantee fifteen percent of mortgages for young people under 30 to help them access a first home, Finance Minister Carolina España confirmed on Monday.
In statements to journalists on the occasion of the inauguration of the multinational Oracle of its Innovation Hub@Málaga, the Minister explained that the Departments of Finance and Public Works have been working for months to implement this aid and are confident that it will be ready in February.
The studies for its implementation are very advanced and the legal details are being defined, according to the councilor, who anticipated that in the next few weeks the president of the council, Juanma Moreno, will announce the details of this initiative.
“It is very important news that reveals that the Andalusian government is trying to help young people and that we are in the real world as it knows the difficulties” of this group in accessing a first home, since financial institutions only grant mortgages for 80 percent of the property amount.
In this way, the Board would guarantee 15% of the loan and for this reason it has a budget item of twenty million, which could be expanded, indicated the head of the Treasury and European Funds.
Furthermore, he stressed that this measure responds to a request from the construction employer Fadeco to facilitate the access of some groups to a house given the financing difficulties to set up a mortgage.
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