From the start of its operations, in January 2015, until February 2020, the "First Home Guarantee Fund" - established by the Ministry of Economy and Finance and made operational thanks to a protocol of understanding with the ABI - has more than 172.000 loan applications are admitted, for a value greater than € 19 billion, of which € 14,8 billion already fully disbursed. Around 4.000 new mortgages are disbursed using the guarantee of the Fund.
This was announced by Abi, highlighting that the Guarantee Fund confirms itself as an important example of collaboration between banks and public institutions useful for promoting access to credit for families who aspire to buy their first home, especially the younger ones, also holders of atypical employment contracts.
In detail, the breakdown by age group, in fact, 60% of the financing operations admitted to the Guarantee Fund concern young people aged between 20 and 35.
Furthermore, looking specifically at the subjects who have the priority conditions envisaged for accessing the Guarantee Fund, it emerges that over 10% of the loans disbursed relate to young people - under the age of 35 - with atypical employment relationships.
The Guarantee Fund is therefore confirmed as a useful tool to encourage the development of residential mortgages, also for younger families, 11% of which - corresponding to over 220.000 families - are owners of a property purchased with a loan banking.
The First Home Guarantee Fund provides for the issue of guarantees to cover 50% of the capital share of mortgage loans (up to € 250.000) granted for the purchase (also with restructuring interventions and for increasing energy efficiency) of the properties used as a first home. The guarantee can be requested for the purchase of properties of any size, as long as they are not luxury, by subjects, without any limit of income and age, who at the date of submission of the application are not owners of other properties for residential use, except those received by succession or that are in use free of charge to parents or siblings.
The list of banks and financial intermediaries belonging to the Fund can be consulted on the Consap website, the Public Insurance Services Dealer that manages the Fund, from which you can also download the specific application form.