Mortages

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CONSAP’S FUND FOR “FIRST HOUSE” MORTGAGE

The largest part of banks adheres to guarantee fund Consap (Finance Ministry’ society), for the “first house” loans, financed every year; this fund delivers an additional State guarantee, up to 50% on capital quote up to € 250.000,00. This process can help loan’s granting, in particular in case of precarious workers or fixed-term workers.

The loans must be requested for purchase of building that can be used as first house, (anche con accollo da frazionamento) just for purchase, renovation and development of energy efficiency, but not for cadastral categories A1,A8, A9 or luxury real estates.

The Banks can’t request to borrowers not-insurance addiptional guarantees, only real estate’s mortgage.

Aren’t expected limitation of income for borrowers wich mustn’t be owners of other real estates, not in case of real estates inherited.

Primary subjects

The fund gives priority to loans provided to this type of subjects: 

  • Young couples: households created by at least two years, married or cohabitants, with one of those under the age of 35
  • A parent with minor children: single person not married, divorced or widow with one or more children
  • Young people under the age of 35 with atypical work pursuant art.1 act June, 28/2012 n.92
  • Owners of accomodations belonging to indipendent istitutes for council houses

 

The maximum limit of annual percentage rate of charge (APRC) applied to loans is equal to medium APRC, detected by Ministry of economy and finance (act 108/96) 

The Banks shall take, to protect the borrowers wich can’t pay loan instalments, an instalments suspension and others optional activities. Is necessary request the application for membership to the Bank at the time of loan’s request. The loan’s granting is a Bank’s free choice.