Banks, ABI: the guide on the solidarity fund for first home mortgages is online

How the Solidarity Fund for mortgages for the purchase of the first home works, which mortgages it applies to, how to access it. These are the main points of the infographic 'Suspension of mortgage payments to support families in difficulty' which aims to provide citizens with essential information regarding the operation of the tool.

In digital format, this new infographic was created by ABI in collaboration with the banks and consumer associations participating in the Simple Transparency project, which includes, among other things, the creation and dissemination of information and educational tools on interest in customers, with the aim of encouraging the use of banking and financial information by citizens.

The theme at the center of this short guide is the Solidarity Fund for mortgages for the purchase of the first home, the instrument that sees public institutions and Italian banks collaborate on extraordinary measures that meet the needs of weaker sections of the population. The support measures for families in particular difficult conditions that are activated through the Solidarity Fund for the suspension of first home mortgage installments, the so-called Gasparrini Fund, in the last two years have been strengthened by some legislative interventions aimed at limiting the effects of the Covid emergency, which expanded its scope of application and extended operations until 31 December 2022.

The infographic is available online on the ABI website in the dedicated page (this is the link), and is available to banks and consumer associations that have collaborated in its creation (ACU, Adiconsum, Adoc, Altroconsumo, Asso-Consum, Assoutenti, Consumer House, Consumer Protection Center for Users, Cittadinanzattiva, Codacons, Confconsumatori, Federconsumatori, Consumer League, Consumer Movement, Citizen Defense Movement, U.Di.Con, UNC). 

Here are the main contents of the infographic:

  • How it works

Citizens who have lost their jobs, or if the suspension or reduction has occurred, can access the Solidarity Fund, which allows you to request the bank that granted the loan to suspend the payment of installments up to 6, 12 or 18 months. working hours for a period of at least 30 days; those who have been recognized as having a serious handicap; or in the event of the death of one of the borrowers. Following the Covid emergency, the suspension request can be presented without indicating the ISEE, the indicator of the equivalent economic situation. Furthermore, the measure was extended to self-employed workers, freelancers, individual entrepreneurs; to building cooperatives with undivided ownership; to mortgages guaranteed by the Guarantee Fund for the first home.

  • To which mortgages the measure applies

The measure applies to mortgages relating to a property used as a non-luxury main residence, which do not exceed the amount of 250.000 euros (400.000 euros until 31 December 2022). To mortgages that have been amortized for at least one year that do not enjoy public subsidies or insurance policies that cover the suspended installments due to the events envisaged by the measure. Also to mortgages with a delay in payments, as long as not exceeding 90 consecutive days at the time of submitting the application, and for which the forfeiture of the benefit of the term or the termination of the contract itself has not occurred, also through notification of the deed of order, or an executive procedure has not been initiated by third parties on the mortgaged property.

  • How to access the measure

To request the suspension of the installments, the citizen in possession of the required requirements must fill in the form published on the website of Consap, manager of the Fund (https://www.consap.it/fondo-di-sospensione-mutui-per-l -purchase-of-the-first-home /), different for natural persons or building cooperatives, accompanied by the necessary documentation, to be presented at the bank that granted the loan, in the manner defined by the bank itself. All banks adhere to the measure.

Banks, ABI: the guide on the solidarity fund for first home mortgages is online